Exclusive: Probitas rebuilds European team

The US-based placement agent has established a new office following a split with its former European colleagues

Probitas Partners, a global placement agent, has transferred one of its San Francisco-based managing partners to London as it rebuilds its European presence, PEI has learnt.

Bracken White has moved to London to establish a new European team, following the split between Probitas’ US and European teams this summer, according to a source familiar with the matter.

The US team kept the original Probitas Partners name, while the European team renamed itself Quest Fund Placement.

White, who has more than 17 years of industry experience, is responsible for Probitas’ relationship management activities in the Middle East. He is currently “the man on the ground” in London and will be hiring three or four people for the new London office together with senior US partners.

The new individuals will be the key people engaging with investors, while much of its back-office support will come from the US, it is understood. The full team will be up and running by spring next year. It is likely that White will move back to the US once the team is fully operational.

Prior to joining Probitas, White was the chief investment officer of Makan Capital Group, a wealth management firm based in Abu Dhabi and Saudi Arabia. Previously, he was a managing director of Molinaro Koger, where he raised equity commitments for real estate investments from institutional investors. He has also previously worked as a principal at Presidio Merchant Partners, where he also covered the real estate industry, and before that as an investment banker for Bank of America.

Probitas’ European team will raise both European funds as well as attracting LP commitments from European investors for US, Asia and global funds. Probitas has offices in San Francisco, New York and Hong Kong. The firm has worked with more than 60 managers and has raised more than $41 billion in capital.