UK mid-market private equity firm Palamon Capital Partners has hired former Allstate Investments executive John David as a managing director to help lead the firm’s investment strategy.
David spent seven years at US-based investment manager Allstate, most recently as the firm’s global strategist and head of its London office.
He previously served as a senior portfolio manager for seven years at Northwestern Investment Management Company, which followed a ten-year career in derivatives research and trading roles with top-tier global financial institutions.
“We are delighted to welcome John to Palamon,” said Palamon managing partner Louis Elson. “His ability to read broad macro trends and translate them into specific and targeted investment strategies is ideally suited for our investment model.
“His skills will further augment our strong capability to develop investment themes and identify niche sub sectors in Europe where growth can drive returns.”
The move follows Palamon’s recent sale of coffee bar chain Espresso House, a deal that generated a 3.4-times return on invested capital.
The firm’s second fund has generated a 2.6-times return through five exits so far.
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