31 May 2007
Palamon broadens governance in anticipation of accelerated growth

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Palamon Capital Partners (“Palamon” or the “Firm”) today announces a structural reorganisation to prepare itself for accelerated growth. Co-Founder Michael Hoffman is appointed to the new position of Chairman of Palamon, enabling him to focus on expanding the Firm’s profile in the market and enhancing relationships with the wider investment community. Co-Founder and Managing Partner, Louis Elson, will lead a newly created Operating Committee which will direct the day to day activities of the Firm. Daan Knottenbelt and Erik Ferm, both Partners of Palamon, have also been appointed to the Operating Committee.

The restructuring initiates Palamon’s transition from its founder-led roots to a broader-based institutionalised partnership with ownership and responsibilities more widely distributed. Palamon believes that this approach will become more common for founder-based firms which will be required to scale up as a result of the rapidly changing environment for private equity. Under the broader structure Palamon will look to double in size over the coming three years.

Since Palamon’s establishment in 1999 it has raised €1.1 billion and made investments in 22 companies across eight country markets. With the success of Palamon’s maiden 1999 fund and the continued investment of its 2006 second fund, now 40% committed, the Firm has rapidly become a leading player in the European mid-market and is well placed to benefit from the rapid concentration of capital now targeting a select number of firms.

Michael Hoffman, Chairman of Palamon Capital Partners, commented: “Palamon as a Firm is now well established: staffed by high quality professionals, driven by a focused and proven investment philosophy, and operated with a disciplined approach and effective processes. We can rely on those very strong foundations to help further institutionalise the Firm, affording Palamon the opportunity to scale effectively and safely.”

Louis Elson, Managing Partner of Palamon Capital Partners, commented: “I am delighted to welcome Daan and Erik to the newly formed Operating Committee. Our ability to broaden the management of the Firm at this time reflects the calibre of the investment team and the strength of our collegiate culture. Indeed, all the pieces are now in place to scale up our investment activities and attract additional talented professionals to join our Firm.”

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