The fundraising group within investment bank Jefferies is continuing to ramp up staff levels, having hired Magnus Christensson to run European activities.
Christensson was most recently at rival placement agent Atlantic-Pacific Capital, which he joined in 2002. Last year, Atlantic-Pacific recorded two fund closes: it helped Yucaipa raise $1.6 billion for its second buyout fund and aided the $406 million fundraise for lower mid-market firm Riverside Partners.
“I have really enjoyed my years at Atlantic-Pacific Capital, and I want to thank all of you who have made my time such an enjoyable and a stimulating period of my 21-year-long career,” Christensson wrote in an email to friends and family notifying them of his new role.
Christensson told PEO he joined Jefferies because he believes its platform is “phenomenal” and poised to take market share from groups like larger investment banks reducing or halting their placement activities. He likened Jefferies' private funds group to Donaldson, Lufkin & Jenrette's fundraising team in the 1990s, describing Jefferies as “a small, mid-market-focused investment bank having close relationships with the GP sponsors and helping them to do M&A and exit work [as well] as private placements”.
When the firm formally announced the three appointments in October, Steve Gray, head of Jefferies’ fund placement group, said the firm is “confident about the long-term prospects for the private equity and alternatives markets, which will continue to be reflected in our hiring plans”.
Jefferies' team of senior fundraising professionals includes San Francisco office head, Bob Rivett. He was formerly the co-head of fundraising for Credit Suisse and a founding partner and co-head of DLJ's private funds group.
Last year, Jefferies assisted in the closure of two funds: the $1.2 billion close on Riverside Company’s fifth fund and the €665 million close of Silverfleet Capital Partners’ first independent fundraise since spinning out of Prudential.