USS private markets exec joins Hermes

Sanjeev Phakey, an investment manager who has spent the last six years at one of the UK's largest pension funds, joins to focus on fund and co-investments.

Hermes GPE has hired a private markets investment professional from Universities Superannuation Scheme, one of the UK’s largest pensions.

Sanjeev Phakey joins the investment firm’s London office to focus on fund and co-investments in EMEA, according to a statement. Phakey was most recently an investment manager at USS where he spent six years, and has experience at boutique advisory firm Spayne Lindsay and UBS.

Sanjeev Phakey

The firm also hired Fidel Manolopoulos to work on direct growth equity investments as well as fostering closer partnerships with GPs and investors focusing on sustainable growth businesses in Europe and North America. Manolopoulos joins from Mojo Capital, a digital technology investment firm.

The two hires bring with them strong GP networks that will reinforce Hermes’ dealflow as well as deepen its relationships with GPs and investors in the growth and mid-markets, Peter Gale, Hermes’ head of private equity said.

In October Private Equity International reported that Hermes was tilting towards more separately manged accounts through its co-investment programmes due to demand from

Fidel Manopolous

several LPs. The firm had held the final close on its third pooled co-investment fund, Hermes GPE PEC III Co-Investment Fund, above its $300 million target on $389 million in September.

PEC has committed to 33 investments, according to the statement.

Hermes manages around $5 billion in private equity assets. The appointments bring its number of investment professionals to 20 across its London, Singapore and New York offices.