Boutique placement and advisory firm Campbell Lutyens has made a rare senior-level hire with the appointment of Richard Allsopp to partner.
From mid-October he will focus on expanding the firm’s private equity and infrastructure fundraising business, the latter being an increasing area of focus for London-headquartered Campbell Lutyens.
In his two decades of placement industry experience, Allsopp is best known for having established and led UBS’ private funds group. He joined the investment bank in 1998 and during his 10-year tenure, the fundraising division grew to 38 professionals and raised 46 funds with more than $100 billion of commitments.
Last year he left UBS to help Babcock & Brown establish an in-house fundraising group. In the wake of Babcock & Brown’s collapse, Allsopp helped senior members of Babcock European infrastructure team spin-out to become Arcus Infrastructure in July 2009.
Campbell Lutyens managing partner Andrew Sealey told PEO his firm has known Allsopp for more than a decade and he is “an unusually close match to our business”.
Allsopp diversified UBS’ placement group, incorporating infrastructure and secondaries alongside private equity – a blend that Sealey noted Campbell Lutyens has also developed, along with a fund restructuring practice.
“What he’s done [with an investment bank’s fundraising group] parallels in the boutique world to what we’ve done,” Sealey said. Allsopp's interest in emerging markets also fits with Campbell Lutyen's “touch points”, he said.
Sealey noted the diversification of business lines has enabled 21-year-old Campbell Lutyens to grow at a time when “investment banks are shutting down their placement businesses and some boutiques are scaling down”.
He also said that the fiscal year ended in April was a record for the firm, with revenue tripling and its team doubling in size to 48 people.
Campbell Lutyens most recently brokered the secondaries sale of a portfolio of 3i’s European venture assets. Coller Capital and HarbourVest Partners purchased the assets, which in turn are being managed by DFJ Esprit’s nascent direct secondaries arm, Encore Ventures.
The deal illustrated an expected uptick in secondaries activity, Sealey said.