Investec Bank (Investec) has established a dedicated GP Advisory team led by new appointee Stefano Manna as Head of GP Advisory, reflecting a growing demand from PE for alternative exit options amid a challenging dealmaking environment.
Investec’s latest annual secondaries report, ‘Secondaries shine in turbulent times’, published earlier this year, found that more than half of managers in this area expect to be more active in GP-led solutions over the next 12 months, as IPO and M&A markets remain subdued.
The new team will provide strategic advice to financial sponsors – primarily focused on the mid-market, offering a range of private capital raising and liquidity solutions, including single and multi-asset continuation vehicles among others.
Investec says the appointment reinforces its commitment to serving the evolving needs of the European private equity sector. Earlier this year, the bank acquired a majority stake in leading European M&A and corporate finance advisory firm, Capitalmind.
These latest moves underscore Investec’s growth ambitions in the sector. Investec’s European M&A Advisory team has increased from 15 to 140 people (including Capitalmind Investec) over the past five years.
Bringing more than twelve years of experience in the private equity industry, Manna joins from fund advisory and capital placement agent, Eaton Partners, where he worked in the Capital Raising and Secondary Advisory team, primarily catering to mid-market clients.
Manna will collaborate closely with Investec’s Fund Solutions and the M&A Advisory teams, as well as its wider Private Equity franchise.
Investec has an active lending presence in the secondaries market, offering financing to GPs for follow-on investment, continuation vehicles, dividend recapitalisation and a wide range of other applications.
