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Rede doubles team following run of closings

The placement agent has recently helped PAI, Ambienta and Paragon to exceed their fundraising targets

London-based fundraising and secondaries advisory firm Rede Partners has more than doubled its team since the beginning of last year, according to a statement from the firm.

The team has expanded from 10 to more than 20, and has moved to new offices to accommodate the growing team.

Since it was established in 2011, Rede has helped its clients to raise more than €6 billion of primary capital and divest around €500 million of secondary interests.

The new hires include Marina Jovanovic, previously at DLJ Merchant Banking, now known as aPriori Capital Partners, and Goldman Sachs, Sabrina Malpas, previously at Lehman Brothers and Nomura, Alastair Baird, who joined from Park Square Capital, Ian Flavell, who joined from Barclays, and Jonathan Hartland, previously at Morgan Stanley and Citigroup.

Rede also appointed Yaron Zafir to its secondaries business. Zafir, who has 12 years of private equity experience, joined Rede from Paul Capital, where he was a founding member of the London deal team.

The firm also appointed Mark Evans as chief operating officer. Evans, who has spent time at IVC Group, Commerzbank, UBS, JP Morgan and KPMG, will be responsible for working alongside founding partners Scott Church and Adam Turtle to develop Rede’s internal infrastructure.

Rede’s past and current clients include Ambienta, AnaCap Financial Partners, Apax France, GHO Capital, PAI Partners, Paragon Partners, Stirling Square Capital Partners, Värde Partners, and Wise SGR, according to the firm.

In March PAI held a final close on its sixth European buyout fund on €3.3 billion, above its initial hard-cap of €3 billion. PAI Europe VI came to market in early 2013 and held a €1.4 billion first close in January 2014. The vehicle then held a second close of around €2.5 billion last summer, and had amassed around €2.8 billion by November, PEI reported previously.

In May last year Munich-based Paragon Partners’ oversubscribed second buyout fund held a first and final close on its €400 million hard-cap. In November Italy-based firm Ambienta closed its second fund on €323.5 million, above its €300 million target. The fund came to market in June 2013 and held a first closed in October on €145.2 million, holding a €250 million interim close in June 2014.

In December 2014 Rede client Stirling Square held a first close on its third fund in excess of €350 million. The vehicle is targeting €500 million and has a €600 million hard-cap. It is understood that the fund is expected to hold a final close in the second half of this year.