Andrew Hawkins, a partner at mid-market buyout firm Palamon Capital Partners, is leaving to take a senior role at direct secondaries specialist Vision Capital.
Hawkins, who joined Palamon as a partner when it was founded eight years ago, will join Vision as managing director in August, after a short holiday. He will work alongside current managing director Scott Greenalgh, reporting directly to founder and chief executive Julian Mash.
Vision has recruited Hawkins as it looks to complete the €1 billion ($1.3 billion) investment programme it launched last May, which includes a €350 million core fund, Vision Capital Partners VI, and a series of additional investment vehicles. The firm subsequently acquired four businesses from AEA Technology for £76.4 million in August, and a portfolio of four assets from Northern Foods for £160 million in November.
In a note to investors, Hawkins said he was “greatly honoured to have been asked to help Julian and his highly capable team build the firm as they enter the next phase of their growth and expansion.”
Hawkins, a qualified accountant, joined Palamon in 1999 after a 12-year investment banking career – most recently as head of the technology industry group at WestLB Panmure. He began his career in industry.
While at Palamon he has been involved in the deals for Imagenet, an online image distribution service, and Swedish lender Nordax. Most recently he led the firm’s investment in Cambridge Education Group, a UK-based English language teaching group, in which Palamon invested €15 million earlier this year.
Palamon was started in 1999 by Michael Hoffman and Louis Elson, who had previously set up the London office of Warburg Pincus. As the US group started to chase bigger targets, the pair decided to start their own firm so they could remain focused on small and mid-market buyouts. Palamon closed its second fund with €670 million of commitments last year.
In the note, Hawkins described his time at Palamon as “exceptional and stimulating” and expressed confidence that the two managing partners would “continue to take Palamon from strength to strength”.