Palamon promotes Mytnik to partner

Following a wave of realisations in its portfolio last year, the firm is gearing up for growth with the promotion of Daniel Mytnik to the role of partner.

London-based Palamon Capital Partners has promoted Daniel Mytnik to partner. Mytnik has served as a principal at the firm since 2006. He oversees investments in several of the firm’s portfolio companies, including Eneas Energy, Cambridge Education, Dress-for-Less and Espresso House.

Palamon oversees a portfolio of private equity assets valued at €1.1 billion, focusing on European mid-market investments. Palamon last year reported an average EBITDA growth rate of 35 percent for its portfolio companies. In 2010, Palamon had six realizations in its Palamon Equity fund I that generated €450 million in proceeds. This included the sale of Palamon’s majority stake in the marketing firm Loyalty Partners to American Express for €240 million and the sale of the Scandinavian consumer loan company Nordax for €105 million to Vision Capital.

Meanwhile, the firm is currently investing proceeds from its Palamon European Equity II fund, which closed in 2006 with €670 million. That fund had 68 percent of its capital invested as of late January. Palamon targets companies with an average enterprise value of €500 million, taking equity stakes in the range of €10 million to €150 million.