Evolution targets private equity market

The London-based investment bank has hired Steve Bartlett to build a presence in the mid-market advisory space.

London-based investment bank Evolution Securities has hired Steve Bartlett, a 20-year veteran of the private equity business, to spearhead its nascent private equity coverage group.

Bartlett becomes head of Evolution’s newly formed private equity department, housed within its corporate finance division, with immediate effect.

Evolution’s chief executive officer Alex Snow said in a statement the investment bank was moving in a new direction and had “a real ambition to establish a new and meaningful presence” in the private equity mid-market.

Steve
Bartlett

Bartlett has clocked up 20 years of experience as an advisor to private equity firms. He spent five years as a partner in BDO’s corporate finance team and most recently operated his own advisory practice. He advised on the acquisition of The Groucho Club by Graphite Capital in 2006 and the sale of Racal Acoustics by ECI in 2008. He previously worked at UK mid-market firm Phoenix Equity Partners.

Bartlett cited “untapped opportunities” within the private equity sector, which historically has been under-served by Evolution’s corporate finance team. He will work with the 31 team members within the corporate finance division but envisages an increase in his private equity team “if the market moves significantly in a positive direction”.

Evolution Securities is a subsidiary of FTSE-250 listed Evolution Group and specialises in the UK and European equity and debt markets.