Palomar Capital Advisors, the Zurich-based private equity fund placement agent, has secured the services of David Chamberlain, who quit as head of Unigestion’s private equity activities towards the end of 2003 after 16 years at the firm.
Chamberlain has joined to spearhead a new advisory and placement service specifically targeting secondary private equity interests. In an interview with PEO, he described his role as “building a bridge between institutional investors wishing to sell and those with an intention to invest in private equity through the secondary market.”
He said the service would provide benefits to three parties: achieving maximum price and efficient execution for institutions selling fund positions; transacting on behalf of replacement investors that don’t have sufficient resources to expand their portfolios; and providing a long-term flow of institutional capital for general partners.
Chamberlain said the role reflected the increasing maturity of the European private equity secondaries market and added that he expected more placement agents to provide rival services in future.
Palomor was established in early 2003 to specialise in the structuring and placement of alternative investment products, specifically credit-related securities and private equity primary funds.
Chamberlain joins fellow partners George Tintor, Heinz Winzeler, Rolf Winzeler, Markus Kroll and Paul Kers. Rolf Winzeler was the former head of the London office of private equity placement agent Atlantic-Pacific Capital, while Kers helped establish the private equity fundraising group of Salomon Smith Barney in Europe.
While at Unigestion, Chamberlain had wide-ranging responsibilities covering the firm’s financial, corporate finance and investment activities in Switzerland, France and the UK. In the wake of his departure, Hanspeter Bader was appointed head of private equity with responsibility for investment and business development.