Siguler Guff, the US private equity firm, has hired Eric Estes as a managing director to drive its growth in Europe as it opens its first London office.
Estes, who is joining from Campbell Lutyens where he was partner, will manage the firm’s presence throughout Europe, the Middle East and Africa.
He told PEO: “It logical to bring the firm’s management and expertise over and provide a base for LP support and our fund of funds activities. It will be a full functioning office with investment managers, investor relations and a front and back office: the full nine yards.”
Siguler Guff already has European clients buying its multi-strategy products and Estes remit is to grow the number. He is leading a recruitment drive: “We will build up logically with the right people: there are two in mind already.”
Globally the firm, which was founded in 1991, manages investments and commitments for clients of approximately $3.6 billion. Its clients include corporate and public employee benefit plans, endowments, foundations, government agencies, financial institutions and family groups.
Siguler Guff’s private equity funds target specific investment opportunities with a focus on several areas including: distressed debt, emerging markets and small buyouts. Estes said: “The essence behind all our investments is market inefficiency. That’s not just typical private equity arbitrage, which is often short-term. Our clients, such as the endowments, tend to have longer time frames and so do we.”
Its Russia Partners funds are the longest standing direct private equity investors covering the former Soviet Union.
The firm has offices in New York, Boston, Moscow, London, Kiev, and Shanghai.