Palamon Capital Partners has appointed John David as a managing director, the firm said in a statement. David will focus on investment strategy.
Prior to Palamon, David worked at Allstate Investments, an insurance company, where he was a global strategist and head of the London office. Previously, he was a senior portfolio manager at Northwestern Investment Management Company.
The appointment comes as Palamon tries to raise a new fund, Palamon European Equity Fund III, which is targeting €750 million, according to PEI’s in-house database PE Connect. The firm declined to comment on fundraising.
Palamon, which has €1.1 billion of funds under management, typically invests between €15 million and €80 million in service orientated businesses with growth potential. It is currently investing its €670 million European Equity Fund II.
In September, Palamon sold Espresso House, a Swedish coffee bar chain, to Herkules Capital, generating a 3.4x return on the original investment. After exiting five investments, Fund II has so far generated a 2.6x return.