Specialist investment bank Investec, one of the industry’s top three players for mid-market M&A transactions, has appointed Christian Hess to head up its newly created financial sponsor transaction group.
Hess, who co-founded UBS’ private equity group, spent 16 years at the bank before stepping down a year and a half ago to set up Hess & Co. Capital Advisors. Until 2011, he led UBS’ private equity coverage, managing a team that advised on deals such as the 2004 €1.5 billion takeover of Vendex, a Dutch retailer, by a consortium led by Kohlberg Kravis Roberts.
At Investec, Hess will bring together the organisation’s asset management, wealth management and private equity sponsorship capabilities in one place and will make a select few hires of his own build the team.
Andrew Pinder, head of investment banking at Investec, said of the appointment: “We’re seeing an uptick in M&A. We’re confident that private equity firms have assets they still need to dispose of. At the same time, there are new funds that have raised pots of capital that they are actively looking to deploy.”