Elm Capital, a London-based advisory firm, has converted to a partnership structure and promoted four of its professionals to partner.
The promotions at the firm were Emanuele Musso, Alberto Badino, Bernhard Ellmer and Samantha Page, according to a statement.
“The primary objective of this change is to create a strong foundation for the continued growth of our business in the primary and secondary markets, as advisers to both general partners and limited partners,” Elm managing partner Etienne Deshormes said in the statement.
Musso joined Elm from New York alternatives firm Auda International, now HQ Capital, where he focused on business development and marketing; Badino joined from US placement agent Probitas Partners where he was responsible for origination and execution of primary capital raising; Ellmer was previously head of investor relations at Luxembourg-based private equity advisor Augur Capital and Page is responsible for operations and previously worked at Sony Music Entertainment.
Deshormes established Elm in 2004 after eleven years at JP Morgan, first as head of its corporate finance division in Belgium and then as managing director of equity capital markets in London.
In its newsletter for the second half of 2016, released in early March, the firm noted secondaries pricing was forecast to rise this year as deals begin to reflect funds priced in the third quarter of 2016, a period which saw equity markets surge to record highs.
Elm has been active as a broker dealer in the US since 2011, running its operations there from London.