Stenbaek leaves Danske for Keyhaven

Claus Stenbaek has moved from Danske Private Equity to Keyhaven Capital Partners as a managing director.

Keyhaven Capital Partners, the recently established European fund of funds operation, has recruited Claus Stenbaek as managing director.

Stenbaek becomes co-head of the team alongside existing managing director Sasha van de Water. “Claus’ fund and direct investment experience complement the fund  investment experience of the team,” said van de Water. She added that the appointment provided a cultural and linguistic fit, with the Keyhaven team now able to speak ten languages between them.

Keyhaven, which is currently raising its first fund, says on its website that it is aiming to build relationships with about 15 to 20 primarily European buyout and venture capital fund managers. Van de Water said she could not comment on the progress of the fundraising for legal reasons. 

The firm was founded earlier this year by van de Water and chairman Michael Boxford, who had previously worked together at AXA Investment Managers’ private equity fund of funds programme, where van der Water was managing director and Boxford sat on the investment committee.

Stenbaek is the first of the six-strong Keyhaven team not to have worked previously at AXA Investment Managers. The other members of the team are James Donohue Jr, Katherine Lott and Salina Allie.

Stenbaek was most recently executive director and partner of Danske Private Equity, where he co-managed and built up the firm’s three main funds with combined commitments of more than E1bn from institutional investors.

Prior to that, he was founder and managing director of niche investment bank Richmond Capital, as well as managing a large European family investment company. Stenbaek was not available to comment.