Quay continues expansion

Quay Partners, an Australian funds of funds manager, has appointed another executive with links to Pantheon Ventures.

Angus Whiteley was hired as a group chief executive in London, according to a statement. Quay Partners’ majority shareholders, Richard Bowley and Geoff Norman, have known Whiteley for more than 10 years, through Richard Thompson. Thompson was the first chairman of Pantheon, a firm for which they (and a number of their colleagues at Quay) previously worked. 

“His [Whiteley’s] first hand understanding of private equity investing will be an invaluable asset for us. We believe many of the fund of funds players have over the boom years become guilty of becoming too large and remote from what really makes money at the investment level. Box ticking fund selection is all very well, but an empathy for investment is also required,” Bowley and Norman said in the statement.

Whiteley used to work at Solon Ventures, a venture capital firm he co-founded. Between 2001 and 2006, Whiteley worked at Thompson Clive & Partners, where he advised one of the firm’s funds, according to the Solon Ventures website.

It is not the first time Quay Partners has hired executives through its Pantheon alumni network. Lucy Nicholls and Jeffrey Reed, both partners, also worked at the firm. Bowley and Norman were Pantheon’s former chief executive and a former head of Asia respectively. 

Whiteley’s appointment comes as Quay Partners aims to further internationalise the firm. In November, it opened a second US office in Boston. In September, Dowley and Norman increased its stake in the firm and also expanded its team with two hires in the London and San Francisco offices.

At the time, Bowley told Private Equity International that Quay Partners wanted to expand beyond simply servicing Australian institutions, calling it “frankly, quite a narrow focus”.