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Palamon investor relations head leaves amid fundraising strategy shift

29 Oct 2013

?????????London-based private equity firm Palamon Capital Partners has reportedly lost its head of investor relations less than a month after it made huge changes to its fundraising strategy amid the tough fundraising environment.

Managing director Annette Wilson, who has been with the firm since it was founded 14 years ago, is now registered as inactive on the UK’s Financial Services Register according to PE News.

She worked as Palamon’s CFO until 2005, when Palamon separated the role from investor relations.

Prior to Palamon Wilson built up general and financial management experience through a corporate business career, principally at Sedgewick Group and PricewaterhouseCoopers.

Last month Wilson also stepped down from her role as director of the British Private Equity and Venture Capital Association.

Last month Palamon revealed it had decided to replace its third fund with a €210m bridge vehicle amid a fundraising environment managing partner Louis Elson told AltAssets was “the most difficult I’ve been through in 22 years”.

Elson said the third fund had been launched in the first half of 2012 with a similar target to the €670m second vehicle, but had since been scrapped and replaced with the new vehicle as LPs experienced a protracted capital overhang.

The bridge vehicle has been closed on its target, meaning the firm currently has €270m available for investment.

Elson said Palamon would not change its strategy and would make exactly the same type of investments as before.

He added that the second fund was currently generating a return of 2.6 times after six exits and the new vehicle would be targeting a return of between two and three times.

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