David Hutchings, a former managing director at Axa Private Equity, has joined Albourne Partners, a hedge fund investor advisory firm, with a view to developing a private equity business.
A source close to the firm confirmed Hutchings is planning to launch the business later this year.
His arrival at Albourne marks a return to the private equity advisory work, with which Hutchings made his name after a five-year spell with Cambridge Associates, a US-based private equity gatekeeper.
Albourne claims to be the dominant hedge fund investment advisory business, whose clients have more than $100 billion committed to more than 1000 funds.
Albourne’s hedge fund clients include Caisse de dépôt et placement du Québec, Hermes Investment Management, Mitsubishi Corporation Pension Fund, The Teacher Retirement System of Texas, and University of Texas Investment Management Company.
They are also large investors in private equity.
Hutchings left AXA Private Equity in March last year after just 12 months with the French insurer, though he was retained as a consultant to the business. Before joining Cambridge he worked for Montagu Private Equity and 3i.