San Francisco-based placement agent Probitas Partners has appointed Roger Pett as a director in its London-based European team, together with Jack Wills as a vice president and Jeff Mills as an associate at its San Francisco headquarters.
Pett was previously the founder and managing director of Luxembourg-based technology-focused fund of funds Eiger Capital, which now survives only as a legal entity after it abandoned plans to raise a €200 million vehicle in 2002. Prior to his spell at Eiger, Pett was a director at global private equity firm 3i, where he spent 18 years working on UK and international investments, international development and fundraising.
Pett becomes the third member of Probitas’ London team, where he joins former American International Group director Joseph Porterfield and Ritesh Doshi, who joined from the Private Fund Group at Credit Suisse First Boston.
In an interview, Pett told PrivateEquityOnline: “The [London] team is now the size that Probitas wanted it to be in order to launch a major assault on the European market.” He said that the firm was not a small player, but at the same time was small enough to offer personal relationships to US private equity funds raising money in Europe and Europeans seeking to access capital in the States. The firm now has 20 professionals in total.
Jack Wills joins the San Francisco team from Citigroup Private Equity, where he oversaw the firm’s West Coast technology-focused investment activity. He was responsible for investment research, due diligence and fund selection as well as managing and restructuring under-performing fund investments.
Jeff Mills joins the firm’s relationship management team from Siebel Systems, the business software company, where he managed its global relationship with Capgemini, the technology services group. Prior to that, he spent seven years as a helicopter pilot in the US Army.
Probitas Partners offers fund placement, liquidity management and portfolio management services to private equity, hedge fund and real estate investors. In 2004 it advised W Capital Partners, a New York-based private equity liquidity management specialist, on the closing of a $250 million fund – well in advance of an original $150 million target.