Altitude hires fundraising head

Altitude Partners, a lower mid-market private equity firm based in Southampton in the UK, has appointed Andrew Syvret as partner to lead fundraising and deal origination.

The firm intends to start marketing its second fund – Altitude Two – later this year.

Syvret held similar positions at Santander Corporate Bank and Royal Bank of Scotland. He has also worked at both KPMG and PwC in accountancy and corporate finance.

Syvret says the firm’s regional focus has attracted a lot of LP interest.

“There has been an increasing focus on local economics recently, and this appears to transpose to investing also. Many of our backers have commented that they are attracted to making their money work in the local economy with portfolio companies that they can see on the ground, in their geographic region,” he told pfm.

The new fund is seeking a minimum of £20 million ($24 million; €23 million) in commitments, and is regionally focused around the south of England. The average investment from the fund will be between £1 million and £4 million.