Newly formed private equity firm Quaestus Capital is to focus on the emerging asset management sector. Led by Les Hollis, with 20 years of investing, operating and fundraising experience, Quaestus will invest in asset management firms and actively work with firms to optimise their fundraising, talent recruitment, operations and overall performance.
MacFarlane Partners, led by Victor MacFarlane, who has 31 years of real estate experience in property development, acquisitions, asset management and portfolio management on behalf of some of the world’s largest pension plans and institutions leads the equity investment in Quaestus Capital. MacFarlane will also serve as a member of the board of directors.
"We see tremendous growth potential within the emerging asset management arena as many firms have proven performance track records yet need capital in order to expand and grow," says Les Hollis, founder and managing partner of Quaestus Capital. "The Quaestus team brings valuable experience in starting and growing asset management businesses, as well as an active network of institutional investor relationships that will serve our portfolio companies well. We want to pioneer the sector, one that few other PE firms have explored to date."
Quaestus Capital will provide capital and play an active management role with its asset management fund portfolio companies. Hollis’ in-depth understanding of the challenges teams face in growing and operating a financial firm provides Quaestus-backed funds with added value at every stage of growth. Strong teams with demonstrated investment expertise that can directly benefit from capital support and added industry expertise, contacts and operating knowledge are at the core of the firm’s investment focus:
Quaestus will invest in individual investment professionals/small teams ready to launch their own ventures. These teams will have a proven track record of managing institutional assets and be poised for a "lift out" or may be currently managing an emerging fund. Quaestus will provide active support in fundraising, institutional marketing, refinement of the investment strategy, team building and business operations.
Quaestus will invest in organisations looking for liquidity / capital in order to make an organisational/ownership change, expand into new markets or address other operating challenges
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"The success of any asset management firm is rooted in the team’s investment strength and ability to execute and work cohesively. We understand these elements firsthand and are ready to foster a culture of success within the firms we invest," says Hollis
As founder and managing partner of Quaestus, Hollis brings two decades of experience as an investment banker, private equity investor and entrepreneur. Prior to Quaestus, Hollis served as CEO of Bivium Capital Partners, LLC, a firm he founded in 2002. During his tenure, Hollis was a member of Bivium’s investment and management committees and was responsible for the overall direction of the firm, raising USD1.3 billion from many of the world’s largest, most respected pension funds.
"Les has the commitment and experience of an inveterate entrepreneur, strong relationships within a solid network to raise capital, and an operating track record from which many asset management firms can benefit," says MacFarlane. "That rare combination provides the critical skills and leverage to launch and lead a firm with the strategy identified by Quaestus Capital."
Before launching Bivium, Hollis was a key member at Epoch Partners, a start-up investment bank backed by venture firm leaders Kleiner Perkins Caufield & Byers, Benchmark Capital and Trident Capital. At Epoch, Hollis was instrumental in building the investment banking infrastructure as the venture grew from a start-up to 100+ employees. He evaluated direct investments, assisted companies in raising capital, and advised on M&A deals in the emerging data communications sector. Additional M&A experience includes a post with Goldman, Sachs & Co. in the Communications, Media, and Entertainment Group. Hollis earned his BA from Cornell University and MBA from Columbia Business School where he was a Robert Toigo Foundation Fellow and served as vice president of the student body.
