Massimo Prelz Oltramonti, a former European managing director of Advent International, has joined GMT Communications Partners, the European private equity firm that specialises in investments in the communications sector.
Oltramonti spent eight years at Advent, the Boston-headquartered global fund manager, where he helped build the firm’s European presence in investing in media and telecommunications as well as founding their Italian and French offices.
After leaving Advent in 1999, he joined Gilbert Global Equity Partners and since 2001, he has held a number of senior advisory positions with pan-European telecommunications and technology companies.
Speaking to PrivateEquityOnline, GMT managing partner Jeff Montgomery said: “The focus of Massimo’s role will be to generate, negotiate and oversee telecommunications and electronic media investments for GMT.”
Oltramonti will be based in GMT’s London office and will be “a regular member of the investment team,” Montgomery said. The investment team at the firm is distinct from the GMT Industry Council, an entity formed earlier this year to provide market perspective for GMT on its current and prospective portfolio companies.
GMT is currently investing from its €365 million ($435 million) second fund, GMT Communications Partners II, which Montgomery confirmed is approximately two-thirds invested at this stage. Montgomery also indicated that GMT would be looking to raise new money “probably later on this year.”