UK mid-market private equity firm Bowmark Capital has announced three promotions in its London office.
Julian Masters has been named senior partner of the firm. He currently leads the firm’s business and financial services and media practice, Bowmark said.
Masters joined Bowmark in 2008 from European Capital, where he served as a director in the firm’s UK private equity team for two years. Since joining Bowmark he has led a number of investments across a range of industries, including specialist legal publisher, Law Business Research, and insurance e-wholesaling business, iprism, according to the statement.
Tom Elliot, who is an investment manager in Bowmark’s financial services and consumer leisure team, has been promoted to investment director. He joined the firm two years ago from PwC, where he was a member of the corporate finance team for eight years. Most recently he worked on Bowmark’s investments in commercial insurance broker Aston Scott and B2B vehicle rental provider Nexus. Those investments were made through Bowmark Capital Partners V, a 2014-vintage, £375 million ($535 million, €475 million) vehicle, which it is currently investing.
Bowmark has also promoted investment manager Enrica Dacomo to investment director. She joined last year from CDC Group, where she worked as an investment manager. At Bowmark she is responsible for managing private equity fund investments and co-investments in the US and Europe.
The promotions are part of the firm’s strategy to strengthen the team and recognise the significant contributions that all three people are making to the firm, said Charles Ind, Bowmark’s joint managing partner in the statement.
In July last year the firm exited UK restaurant chain Las Iguanas, its final realisation from Fund III, generating a final return for the 2004-vintage vehicle of 4x money and an internal rate of return of 40 percent, as reported.