West Los Angeles-based Oreva Capital has made another big name hire for its Pride Media Group media assets, naming Phillip Picardi, who was chief content officer of Conde Nast’s Teen Vogue, as editor in chief of Out magazine.

Picardi’s jump to Out magazine comes two months after Pride named Nathan Coyle, former publisher of interior design quarterly Domino, as its first chief executive. Pride owns Out and the Advocate, arguably the two most recognizable gay, lesbian, bisexual and transgender brands in print media.

A private equity firm founded by Adam Levine, Oreva Capital purchased Pride Media last year. Oreva Capital also has a controlling stake in High Times Holding Corp.

Picardi’s move was first reported by the Wall Street Journal. Media and entertainment reporter Matthew Blake can be reached at (323)556-8332 or mblake@labusinessjournal.com