Another Goldman Sachs junior joins voracious private equity fund

Private equity funds don't usually hire many people. While banks hire hundreds into their analyst classes each year, private equity funds are more likely to hire one or two - often from top investment banks. It's notable, therefore, that Towerbrook Capital Partners, a fund based in London and New York City has hired at least six juniors in the past four months alone.

The latest Towerbrook hire is the elaborately-named Elena Utrera García de Salazar, formerly an investment banking analyst on Goldman's M&A team. García de Salazar joined Towerbrook's London office this month after four years at Goldman (she spent two in private wealth management before moving into M&A).

García de Salazar will find herself among good company at Towerbrook. Last month, the firm's London office hired Aya Makki, an M&A analyst from Rothschild; in July it hired Viktor von Rheinbaben, a newly promoted M&A associated from Deutsche Bank. In New York in August, Towerbrook hired Grace Murphy, a former Goldman analyst, along with Grant Hilzinger, a former Credit Suisse analyst in July. It's also not averse to hiring from rival funds: a former analyst at Paris-based PAI Partners joined the London office in July and Jeroen Bischops quit the hot and hiring hedge fund Balyasny Asset Management to join Towerbrook as a principal in the structured opportunities fund (focused on financial institutions) in May.

Towerbrook is clearly growing, but from a small base. The most recent UK accounts for Towerbrook Capital Partners LLP, for the year ending December 2016, show revenues rising 24% on the previous year to £20m. It had 12 "members" (partners) at the end of the year and 33 employees, up from 12 and 27 respectively in 2015. The average employee earned £248k; the average member, £459k.

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