Electra poaches partner from UK rival

Private equity fund manager Electra Partners has appointed Chris Hanna from rival Phoenix as an investment partner, as the firm eyes further hires to boost its headcount.

UK buyout firm Electra Partners has strengthened its investment team by hiring Phoenix Equity Partners partner Chris Hanna to supplement its investment team. 

His appointment was effective from 1 September 2011, according to a statement. 

Hanna brings ten years of private equity experience to the role. He became a partner at Phoenix in 2006, a year after joining the firm from Henderson Private Capital. Prior to Henderson, he worked at Morgan Grenfell Private Equity.

At Electra, Hanna will work alongside Alex Fortescue, Electra’s chief investment partner, to deploy the firm’s current £350 million of firepower. Fortescue himself is a recent appointment, having joined the firm in April this year from Apax Partners. 

Electra is looking to make further hires, according to Fortescue. 

Since January, Electra has made three investments: heating and hot water treatment specialist Sentinel Performance Solutions; fine art materials supplier Daler-Rowney; and a secondary investment in private equity firm Steadfast Capital’s second fund. 

In April, Electra Private Equity, the London Stock Exchange-listed entity which provides capital for Electra Partners to manage, said in a statement it had raised £100 million ($161 million; €114 million) in a bond issue conducted in December 2010.