Cambridge loses Hutchings to AXA

David Hutchings, Boston-headquartered Cambridge Associates’ most prominent investment consultant in Europe, has left the group to join AXA Private Equity.

David Hutchings, a well-known UK-based private equity investment consultant, has left Boston-headquartered gatekeeper Cambridge Associates to take up a position with AXA Private Equity.
Hutchings joined Cambridge five years ago and until his departure served as director of private equity for Europe. The firm has written to clients saying that its European manager evaluation and monitoring activities would continue to be looked after by Andrea Auerbach in Boston as well as Katherine Campbell and Daniel Leith in London. In addition, Christopher Hunter would transfer from Boston to London later this spring, Cambridge said.
The firm, whose so-called Non-Marketable Alternative Assets practice comprises 70 professionals, has been advising clients on European investment matters since the 1980s and opened a presence in London in 1994. The group ranks among the most influential advisors of institutional investors with expertise in private equity.

Paris-headquartered AXA Private Equity, which invests in direct private equity deals in addition to running several fund investment vehicles, declined to comment. According to sources familiar with AXA’s plans, Hutchings will be playing a senior role in the firm’s fund investment business.

Prior to joining Cambridge, Hutchings was a founder of UK mid-market buyout group Primary Capital. Before that, he served as deputy chief executive or Montagu Private Equity (then HSBC Private Equity) after starting his private equity career at 3i