17Capital brings in fund finance partner

Preferred equity provider 17Capital has appointed a new partner, the latest in a series of additions to its investment team.

Tom Doyle joins from JPMorgan, where he was a managing director and led the creation of the firm’s private equity fund financing business, according to a statement announcing his appointment. He will be based in London.

Doyle has been in banking and insurance for 25 years, the statement notes.

Prior to his five-year stint at JPMorgan, Doyle’s roles included a year as managing director, global head of product marketing and longevity at Credit Suisse, and seven years as managing director, head of fund derivatives at KBC Financial Products, according to his LinkedIn profile.

Doyle’s appointment follows that of Pierre Garnier as vice-president, as Secondaries Investor reported in June. Garnier, who joined from Lazard’s secondaries advisory team, was listed in Secondaries Investor‘s Young Guns of Secondaries Class of 2017.

17Capital closed its fourth fund in May 2017 on €1.2 billion, three months after Secondaries Investor reported the firm was nearing the final close. Fund 4 closed above its initial target of €800 million and took six months to raise, Secondaries Investor reported.

Preferred equity transaction volumes hit $2.4 billion in the first half of 2018 compared with $3 billion for the whole of 2017, according to data from secondaries advisor Evercore, reported by Secondaries Investor.