GCP Capital Partners (GCP), the former European private equity arm of Greenhill & Co, has re-branded as Kester Capital. This follows the introduction earlier in 2013 of private equity funds managed by Goldman Sachs Asset Management as GCP’s new cornerstone investor, alongside a number of other new institutional LPs, to replace Greenhill.
Kester Capital will be led by Cameron Crockett and Adam Maidment, both of whom have been with GCP since 2007. Brian Phillips, CIO at GCP, who led the establishment of GCP for Greenhill in 2006, has moved to a senior advisory position, the firm said.
Kester Capital will continue its core focus on lower mid-market UK transactions, targeting equity investments of £5m to £25m.
The re-brand to Kester Capital coincides with the sale of in-flight entertainment company Travel Entertainment Group (TEG) to Global Eagle Entertainment for £23m, generating a return of approximately 1.8x.
Maidment said, “TEG has been a good example of what we set out to do: taking lower mid-market businesses and working with them to professionalise and move to the next level.”
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