The GP evolution: adapting in a changing market
25 November 2025
Explore our outlook for private equity market developments in 2026.
4 min read
Private equity firms are operating in a market where proof matters more than promise. Discover how operational excellence, disciplined execution and strategic focus are reshaping M&A.
Jonathan is one of the original members of the Fund Solution team and has been involved directly in its strategic development since inception. During this time, Jonathan has been responsible for setting up the European Fund Solution business and developing the Capital Call product. Jonathan currently heads up the relationship management function within the Fund Solution’s team, with responsibility for providing the full Fund Solutions product set to the existing client base.
Jonathan has been with Investec since 2007 and has experience working in the Structured Property Finance, Specialised Lending and the Fund Solutions business.
Kate is Head of Financial Sponsor Coverage & Origination team in London, advising ambitious fast-growing companies seeking growth capital, with a focus on the technology and consumer sectors. She typically works with established businesses who have reached £10m+ revenue, seeking £10m+ in funding, offering them access and connections to the right private capital (debt and equity). She offers a focused process, targeting specific and appropriate potential investors ranging from family offices, to VCs, private equity through to larger institutional funds. Kate enjoys building long-standing client relationships and positioning entrepreneurial businesses to achieve maximum value at their eventual exit point. Kate has had previous roles at Deloitte and finnCap Cavendish with a particular focus on sell-side M&A deals in the consumer sector. She has also spent many years on deal origination, building earlier stage long-term relationships with owners of private companies, intermediaries and investors.
Stefano leads the Private Capital Advisory team at Investec and provides strategic advice to financial sponsors, offering a comprehensive range of private capital raising and liquidity solutions.
Stefano has over 12 years of experience in the private equity industry. Before joining Investec, he was a Director in the GP Advisory group at Eaton Partners, where he was responsible for the sourcing, structuring, and execution of the secondary transaction mandates in the EMEA region. Previously, Stefano was at Cebile Capital (now part of Raymond James) and Greenhill, specialising in private market secondary advisory. Before that, Stefano was on the buy side at Advanced Capital SGR, a leading alternative asset and fund-of-funds manager, now part of Capital Dynamics. Stefano also has M&A experience from previous experiences at PFH and Rabobank.
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