Quay Partners, the Australian private equity fund of funds and advisory firm founded by former Macquarie and Pantheon executives, has announced changes to its ownership structure and expansion plans with further international appointments.
Former Pantheon CEO Richard Bowley and Geoff Norman, the former head of Pantheon Asia, have increased their equity holdings in Quay Partners and now have a controlling stake in the firm.
Most recently they have established an international Timberlands fund of funds business that now has three offices internationally and $1.25bn of funds under management.
Whilst they hold non-executive positions with Quay Partners they will be involved in continuing the strategic development of the company.
Quay managing partner Stephen White said, “Over the past few years, we have been building out a global team of highly experienced private equity professionals, many of whom are, like Geoff and Richard, ex Pantheon executives who have previously worked together for many years.
“The future of private equity advice is in our view moving away from the existing large players towards cost conscious specialist advisors with remuneration rewarding performance and not scale.
“We believe that the model for investing in private equity has changed substantially and Quay Partners is well placed to offer high quality separate account programs in fund selection and specialised services, such as secondaries, co-investments and fiduciary monitoring, to institutions seeking experienced alternatives to traditional fund of funds.”
In addition to the recent appointment of Jeffrey Reed to its office in San Francisco, Quay Partners has also hired Lucy Nicholls in its London office. Nicholls gained experience as a partner at Adams Street and Graphite, and prior to that she spent seven years at Pantheon.
The firm also announced it has promoted Daniel Bowden to partner, who will remain focused on the Australian and Asian private equity market, which have historically formed the core component of Quay Partners’ business.
The firm said it expects to announce further additions to the team in the near future.
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