Sunday, 7 February 2016
Last updated 1 day ago
Feb 26 2013 | 1:04pm ET
Hedge fund Chenavari Investment Managers has taken the three founders of private equity firm Palio Capital Partners on board.
Mike Henebery, Jerry Wilson and Darren Gibson have all joined London-based Chenvari, led by Loïc Fery. Palio, which had been planning to list its flagship fund, will close.
Henebery, Wilson and Gibson, who founded Palio in 2010, are also not bringing the firm's funds with them.
"We have searched exhaustively for the right way to launch Palio's SME lending model with the emphasis on maximizing our financial firepower to support U.K. SMEs," Henebery, who served as Palio's CEO, said. "Chenavari share our vision for the potential to further develop a substantial business in this mid-market direct-lending space."
"Hiring Mike, Jerry and Darren, whom we consider to be some of the best professionals in the U.K. mid-market space, was a logical and complementary step in the continuation of our existing activities in European direct lending," Fery said.