European Capital loses another professional

The London-listed affiliate of American Capital has lost Julian Masters to the mid-market UK firm Bowmark Capital. As well as hiring Masters as partner, Bowmark has lured Nomura’s Tom Shelford as investment director.

Bowmark Capital has added two professionals to its investment team, including Julian Masters, formerly an investment director in European Capital’s UK buyouts team.

Masters joined European Capital in 2006 having previously been a director at Credit Suisse Private Equity and DLJ Merchant Banking.

His move represents the third major departure from European Capital this year. In September Basil Sakellis, who also joined European Capital in 2006, moved to HSBC Private Equity, while back in May the firm lost its head of buyouts, Simon Hendereson, who reportedly left to set up his own firm.

In related news Bowmark has also hired Tom Shelford as investment director. Shelford joins from Nomura Private Equity, where he focused on UK business services sector opportunities.

Both Shelford and Masters spent time within PricewaterhouseCoopers before joining buyout houses, Shelford in corporate finance and Masters in transactions services.

Bowmark is currently investing its fourth fund, which closed in January 2008 on £265 million: more than twice the size of its predecessor. The firm typically invests in growth-oriented service companies with enterprise values of up to £75 million.