Boutique investment bank Moelis & Co. has hired four managing directors from rival firm Greenhill & Company to boost fundraising according to a statement issued yesterday. Dave Brown, Patrick Dunleavy and Christopher Kirsten will be based in the firm’s New York Headquarters and Zaid Abdul-Aleem will operate out of the Chicago office.
The team will lead the investment bank’s new Private Funds Advisory Business, set up to provide capital raising, secondary and other independent advisory services to private fund sponsors and limited partners.
The Advisory Business launch and new hires come two months after Moelis went public in an IPO and is in line with the aggressive growth undertaken by the firm to since its inception. Founded by veteran dealmaker Ken Moelis in 2007, the firm is known as a top advisor in mergers and corporate reorganizations, ranking 3rd in restructuring globally according to Thomson Financial.
The new team significantly expands the firm’s capabilities as a fund sponsor. Moelishas advised on more than $300 billion of sponsor-related transactions over the past 5 years. The team will enhance the firm’s ability to work with institutional clients, according to a spokesperson for the firm.
Dan Brown and Patrick Dunleavy served as managing directors and co-heads of Greenhill’s Private and Real Estate Capital Advisory from 2008.
Abdul-Aleem joined Greenhill’s Private Capital Advisory Group in 2012 as a principal, and was previously responsible for marketing and client services to U.S. Institutional Investors for Piedmont Investment Advisors.
Mr. Kirsten was formerly a Managing Director and Chairman of Greenhill’s Private Capital Advisory Group.
Moelis Capital Partners, a subsidiary, is a PE firm specializing in mid-market investments in healthcare, consumer goods, and the businesses service sectors, according to Private Equity International’s research and analytics division. The firm most recently raised $103 million for Moelis Capital Partners Opportunity Fund I-B and $23.27 million towards Moelis Capital Partners Opportunity Fund I-B-A, as of December 2013.