09 Oct 2023

Investec expands private equity fund finance offering in the US with new hire

Investec Bank plc (Investec) has today announced that it is expanding its fund finance offering to US private equity with a new office and team hire in New York.

Olivia Deroy has been appointed in an Origination and Relationship Management role for Investec’s Fund Solutions team in the US.

Investec Fund Solutions differentiates itself in the market by offering a broader product set than US private equity funds typically have access to currently, which allows Investec to help solve funds and GPs’ funding problems.

The origination focus will be on providing both capital call facilities and GP financing to mid-market closed-end private capital funds. It will also bring to the US its market-leading distribution franchise, which it has built up in the UK and Europe.

The US team will look to originate deals primarily in the private equity asset class however is also able to provide solutions to infrastructure and real estate.

Investec has rapidly grown its Fund Solutions team in recent years – from 13 people in 2020 to 37 currently – to meet the ever-rising demand for its solutions-driven approach. The team has already been servicing the American market from its London office, having completed three US fund finance deals in the past three months. The office opening is a natural step in the business’ growth journey. It now has a presence in London, South Africa and the US.

Olivia joins from First Republic Bank in New York, having previously worked for four years in Investec’s Fund Solutions team in London.

Grant Crosby, Head of Fund Solutions at Investec, said: “Over the last 5 years, our business has grown exponentially in the UK and European markets, which is a testament to our solutions-driven approach and depth of client relationships. We see a significant gap for a similar model in the US and look forward to bringing the benefits of what we’ve learnt in other markets.”

Olivia Deroy, US Origination and Relationship Management at Investec, said: “The US is a very exciting market at the moment. Recent bank disruptions have resulted in the American mid-market being somewhat dislocated and liquidity constrained. The breadth of Investec's product range aims to solve private equity funds’ liquidity constrains with its innovative and flexible approach to financing solutions”.