Park Hill hires Credit Suisse Australia fundraiser

Josh Peel, who led fundraising in Australia and New Zealand for Credit Suisse, has joined Park Hill Group.

Park Hill Group, the placement agent affiliate of The Blackstone Group, has hired Josh Peel, the head of Credit Suisse’s fundraising operations in Australia and New Zealand.

Peel will be based out of Sydney, Australia, according to an internal Park Hill email seen by Private Equity International.

Peel worked at Credit Suisse for the past four years as the head of third party and intermediated distribution in Sydney, covering Australia and New Zealand, according to the email. Peel raised funds for commodities and index products, hedge fund of funds and some private equity products, though he wasn't affiliated with the bank's private equity fundraising group.

Park Hill could not be reached for comment. Credit Suisse did not return a request for comment.

Private equity firms count Australia and New Zealand as essential destinations when they hit the fundraising trail. The region boasts some large pools of capital like the A$73.1 billion (€58 billion; $75.7 billion) Future Fund, which was established in 2006 to assist the Australian government in meeting the cost of public sector superannuation liabilities, and the New Zealand Superannuation Fund, with about A$17.8 billion (€14.1 billion; $18.4 billion) in assets.

Park Hill has been on a spree of recruiting current and former employees of Credit Suisse. Last month, the placement agency announced it had hired Wouter Mak, who had worked for three years in Credit Suisse’s London office focusing on fundraising in the Benelux regions as well as the UK. Mak works as a principal in Park Hill’s London office.

The firm also hired former Credit Suisse fundraiser Jan-Christoph Klein in September as a principal in the London office to market real estate funds. Klein had been at Partners Group for about a year before joining Park Hill.

Credit Suisse has lost a slew of fundraisers over the past few years. In 2010, Jessica Hoffman Brennan, a managing director in the bank’s private equity fundraising business, resigned and joined The Carlyle Group’s investor relations team. Alok Gaur, a Credit Suisse fundraiser who had been based in Chicago, left in 2010 and joined Greenhill, after which he joined Brennan at Carlyle.

Sarah McFadden Sandström left Credit Suisse in 2010 and joined Atlantic-Pacific Capital, where she was hired as a partner. Conrad Yan departed the bank in 2010. He had helped raise funds as part of Credit Suisse’s Asian asset management institutional distribution team. Yan joined Campbell Lutyens after only about a year at Credit Suisse.

The bank’s real estate fundraising was integrated into the broader private funds group.

The bank has one of the largest private equity fundraising teams in the market, with about 70 professionals around the world as of April. The team is led by Anthony Bowe and John Robertshaw. In 2009, the fundraising group brought on 18 professionals and has been working to expand into Asia.