Propel Investments boosts team ahead of fundraising

Australia-focussed Propel Investments, a recent spin-out of Deutsche Bank’s Australian private equity unit, has recruited two professionals to add to an existing seven-strong team.

Propel Investments, a firm that spun out of the Australia-focused private equity business unit under Deutsche Bank, has recruited Fraser Henderson as a third managing director, and Sam Winter, as a vice-president.

The firm is about to go to market to raise its first fund as an independent.

A partner at law firm Minter Ellison, Henderson will start at Propel in the first quarter of 2008 to work with the firm’s founders on business development and strategy including fundraising. He will also become a member of the firm’s investment committee.

Henderson has had business dealings with Propel as well as its predecessor, DB Capital Partners, Albin Kurti, co-founder and managing director of Propel said.

Winter is a former executive at Colonial First State Private Equity with more than 10 years of transaction experience.

The team at Propel, launched in August, has committed A$160 million to direct private equity investments the most recent of which was in Advanced Well Technologies, an engineering consultancy group. The deal was a direct client investment funded from the coffers of a superannuation fund.