Investec Bank (Investec) has appointed Tom Glover to head the bank’s fund finance business in New York and join its global leadership team. Glover now leads a growing US-based team at Investec USA Holdings Corp. that is expanding its presence in portfolio-based financing solutions.
Simon Hamilton, Head of Fund Finance, says: “We are excited to announce Tom’s appointment to lead our team in New York. He brings a wealth of experience in structuring, negotiating and closing substantial and complex transactions. With his excellent strategic connections developed over his extensive career within the US private equity market, Tom will further establish Investec as an innovative leader and trusted partner and broaden our offering to private equity clients at the more structured end of our lending capabilities.”
Tom Glover says: “I am delighted to join Investec at such an exciting time as the team continues its expansion into some of the most sophisticated areas of fund finance. This is a great opportunity to become a part of an organisation with an extraordinary and entrepreneurial culture. I look forward to contributing to that unique culture, while helping to grow the Fund Finance business, both locally and globally.”
A key focus for Tom will be to expand Investec’s successful portfolio-based lending to private equity funds. Private equity firms are increasingly seeking flexible capital to support the value creation process into the late stages of a fund’s life-cycle. Evidence of this was found in Investec’s 2018-19 annual GP Trends survey of 289 private equity industry participants, which found that 83% of managers are contemplating making substantial investments into their portfolio companies well into the fund’s harvesting period. Investec is able to help private equity firms with flexible capital by providing effective financing solutions to support ongoing portfolio value creation and preservation.
Tom joins Investec from BMO Capital Markets (BMO), where he was a senior member of the Financial Sponsors Group for 15 years, responsible for originating and structuring leveraged finance, mergers & acquisitions and equity raising transactions with leading large cap and middle market private equity sponsors. Tom brings over 30 years of investment banking experience, having held leadership positions in leveraged finance and capital markets at Merrill Lynch, Deutsche Bank and Goldman Sachs and started his career at Donaldson, Lufkin & Jenrette.
Other recent hires to Investec’s New York-based Fund Finance team include Sean Kulkarni as legal counsel, and Matthew Kebble as associate.
