Welcome

JPMorgan Lawyer Jumps to One Rock Capital as New Legal Chief

Sept. 21, 2021, 6:28 PM

The new owners of Nestlé SA’s water businesses, One Rock Capital Partners LLC, has named former JPMorgan Asset & Wealth Management lawyer Fola Adamolekun as its new general counsel and chief compliance officer.

Adamolekun joins New York-based private equity firm One Rock after more than five years with JPMorgan, according to her LinkedIn profile. She was most recently executive director and assistant general counsel for the global financial services company.

“I am excited for the opportunity to join One Rock, a firm with a great reputation for investing in companies with high potential for growth and operational improvement,” Adamolekun said in a Tuesday statement.

One Rock, which declined to comment on the hire, focuses on middle-market investments and was founded in 2010 by two former managing directors of Ripplewood Holdings. In March, the firm raised $2 billion for its third private equity fund, and to date has invested in around 35 companies.

One Rock also acquired bottled water company Nestlé Waters North America from Nestlé SA earlier this year for $4.3 billion. NWNM—whose brands include Poland Spring, Pure Life, and Deer Park—has struggled with falling demand over the past few years as consumers switch to reusable water bottles and the pandemic stifled sales.

Billionaire investor Dean Metropoulos, who has experience working with struggling brands, was appointed chairman and interim CEO of NWNM as part of the deal. Latham & Watkins advised One Rock in the deal, and Paul Weiss advised Metropoulos and his firm Metropoulos & Co.

Adamolekun was general counsel and chief compliance officer at hedge fund manager Valinor Management L.P., before joining JPMorgan. She began her career in private practice with Seward & Kissel and Dorsey & Whitney.

“Fola’s prior experience and legal expertise across the financial services sector are well-suited to guide our firm as we continue to grow One Rock’s presence within the landscape of alternative investments,” said One Rock managing partner R. Scott Spielvogel in the statement.

To contact the reporter on this story: Ruiqi Chen in Washington, D.C. at rchen@bloombergindustry.com

To contact the editor responsible for this story: Chris Opfer at copfer@bloomberglaw.com

To read more articles log in.

Learn more about a Bloomberg Law subscription.