A sample of mandates executed by Altus Partners
Since its inception in 2009, Altus Partners has completed over 300 searches for a range of clients globally. These have ranged across Private Equity, Hedge Funds, Asset Management, Investment Banking and Private Equity-backed companies. A small selection of these is listed below.
Investment Associates for a major Private Equity buyout fund: Altus Partners’ client was a global fund and a leader in distressed or turnaround investing. We were mandated to carry out the Associate hiring programme for the European Principal Investment Team. Working closely with the Head of European Human Resources and were asked to target class of 2014 Investment Bankers, from a select remit of top Investment Banks. They also needed to have completed at least 3 deals, be top-ranked and have a strong technical and commercial skill-set. This required producing a detailed market map of 500+ bankers, and systematically researching each individual to establish whether there was a fit. Subsequently we carried out numerous face-to-face meetings to assess personality, verify background, and determine ability. Altus Partners successfully identified four highly talented Investment Bankers. Such was the positive feedback that Altus Partners received, we were immediately appointed on a further two hires into the team.
Directors - Funds, Secondary and Co-Investing: Our client is a major fund with an outstanding international reputation. Firstly they required an extensive mapping exercise across from Associate to Managing Director level within the industry. They needed to understand the skill-set and competition to ensure they built a highly successful and innovative team. From a major piece of research and numerous client meetings, we collectively identified the background, levels and skills they required. Over the course of the subsequent 3 months we managed the process to a successful conclusion, appointing a Director & Team Head.
Associate hiring programme for a major Private Equity Infrastructure fund: Altus Partners’ client is a leading Infrastructure investor, with a global operation. Altus Partners were retained to complete two hires, requiring exacting skill-sets that the team felt were necessary to enhance their already enviable offering. This required a detailed initial mapping exercise with weekly conference calls to home in on those that seemed applicable on face value. From there we proactively approached and assessed the individuals identified on the long-list, and created a short-list of the most outstanding. There was a rigorous interview schedule to manage, and diaries from various international offices to coordinate. Based on the success of the search, Altus has been appointed again for the programme in the coming year.
Hedge Funds & Asset Management:
European & Emerging Markets Credit team build: Altus Partners’ client is a major multi-strategy asset manager, predominately investing in global fixed income strategies. The European business has established a leading reputation, where they have consistently out-performed their peer group. Altus Partners was approached by the Global Head of Human Resources, based in the US Head Office, for these mandates by merit of the track-record that we had built with other parts of the company. They wished to build out of their Emerging Market Credit team with three hires, specifically a Director and two Associate Directors. There were sensitivities around the search as they wanted a Managing Director in the US to run it, and required a partner to ensure the search was delivered in a discreet manner. Given the early stage of the team in Europe they required individuals to be able to add value from the outset, and bring a strong buy-side track record of. We started by mapping every individual within competitor funds and, approaching them on a soft basis, given the sensitive nature of the mandate. From the long-list we then selected refined short-list relevant, interested candidates for interview by the client. We successfully identified and brought on board a Director and two Associate Directors from competitor funds with exceptional track-records.
Portfolio Manager, Public Equities Search: Altus Partners’ client is a highly successful boutique fund manager, investing primarily in public equities. As a business, they tend to maintain an intentionally under-the-radar presence, despite managing approximately $20 billion, having 12 years of predominantly top-decile track-record, and having illustrious founding partners. In the past three years, Altus Partners had successfully conducted searches for investment professionals for both their Global Equity Fund and their Asian Equity Fund, and had earned the position as an exclusive hiring partner to this part of the business. Altus Partners were mandated to undertake a mandate for an Analyst to cover Asian equities for both the Asian Equity Fund and the Global Equity Fund. While the ‘hard’ requirements of the search limited the field somewhat, the client’s willingness to hire from a range of backgrounds (buy-side public equity, sell-side research, private equity, consultancy, investment banking) and to sponsor candidates to relocate from the Far East opened it out again. Altus spent weeks rigorously mapping the UK marketplace, before identifying and selectively mapping key businesses in the principal Asian financial hubs to provide supplementary candidates. Despite such refined criteria and hugely demanding expectations, not only was this search executed efficiently, but the client additionally offered an interim position to one of the other candidates in the process.
Head of Product Management (Product Specialist): Altus Partners was retained by our client, a global Asset Manager, to establish a Product Management team in their European office to complement an already established team in the US. Initially we met with both US and European counterparts to ascertain their needs for the new team. From our discussions, we agreed a fixed process that worked for all parties, and moved ahead with building a suitable list of candidates from competitor businesses. After a 6-week interview process we identified a highly talented professional who had reached a glass ceiling in his current firm and found the entrepreneurial nature of this role compelling. We successfully completed the mandate and have subsequently added two more professionals to his team.
Managing Director, Energy M&A: Altus Partners’ client is a leading Corporate and Investment Bank with global operations. As part of their sector build-out, Altus Partners were appointed to search for a Head of Power & Utilities to compliment an already strong Natural Resources and Infrastructure team. The role required an individual with a significant network with the Power majors, and the ability to originate new equity and debt transactions from scratch. Altus worked with the client to agree a list of competitor banks, and the target names within those organisations that were well respected and had relevant networks. Confidentiality was paramount, and Altus made discreet approaches, before inviting them to first round interview. Having carried out extensive due diligence on those concerned, the client then met with the selected short-list, with Altus Partners managing the process. From the resulting interviews an individual with an outstanding background was made an offer and joined the bank.
Vice President and Associate Search for Debt Advisory specialist: Altus Partners’ banking practice team was appointed by a new specialist debt advisor, which had recently been formed by two highly reputed Partners, with exceptional track-records. In line with their growth strategy, they were looking to build out a world-class execution team, with the ability to further enhance their offering. In particular they were looking for talented individuals from leading investment banks, who harboured an entrepreneurial spirit. Whilst the candidate pool was large, it was important that Altus Partners identified those who were genuinely motivated by the opportunity, and saw the potential rewards of moving from a large infrastructure-heavy bank to a growing specialist. We initially approached the candidates on an informal basis to select those whom we thought would have genuine interest. Having shown the long-list to the client we then formally approached those individuals that had the right background, refining this to a short-list of applicable candidates. Altus were successful in identifying two candidates, one at Vice President and one at Associate level, and then assisted in helping structure competitive salary packages using previously compiled data. Altus Partners have since been appointed on further mandates.
Director, Corporate Broking Search: Altus Partners worked with a UK-focused broker to recruit a Director into its Corporate Finance team. Having previously conducted successful hires for this team, Altus Partners were selected to lead the mandate by the Head of Corporate Finance, who noted particular value in our well-established network within the Nominated Advisor (NOMAD) space, and our knowledge of Qualified Executives (QE) in the market. Where the search encountered an extra level of complexity was in the firm’s determination to increase its M&A deal-flow, in addition to traditional public-focused Corporate Broking and Corporate Finance. It was therefore imperative that the new hire could display a track-record in originating deals. Consequently the pool of viable candidates became much narrower, meaning that discretion was all the more paramount, and thus a targeted approach was preferable to all parties. Working within these tight parameters, an extremely strong candidate was successfully identified, made an offer, and joined the firm.
Conducting Officer, Luxembourg Search: Our client is a major fund manager. In line with regulatory and political change, they needed to establish a new office in Luxemburg. They consequently approached Altus Portfolio to lead a search for a Conducting Officer, would also take on the responsibility of Head of this office. This was a niche search operating in a relatively limited field, which required extensive background research prior to commencement of the search. Having drawn up a list of applicable candidates, Altus initiated contact, drawing further information on the market as the search progressed. Interviews were conducted across Europe, involving several offices, resulting in a successful hire just a few months later.
Finance team build for pre-IPO, Private Equity backed, Healthcare Company: Following on from the successful work Altus Partners had carried out with the Private Equity fund that owned this company, we were assigned hire a corporate strategy team into the portfolio business, as they prepared for a listing on the LSE. The fund was looking to determine the best placed senior management team in the company to deliver the investment case for the business IPO. Key to this was to identify those individuals with industry and investment knowledge, suited to an entrepreneurial environment, who would relish the opportunity to develop the business and build upon their leading Healthcare market position. Altus Portfolio worked closely with both businesses, to conduct confidential due diligence on the industry management, resulting in the first key hires. This included the Head of Strategy & Finance – an ex-banker with prior listing experience. Subsequently there have been a further ten hires into this team executed by Altus Partners.
Head of Financial Planning and Analysis: Altus’ client is a major Private Equity fund with a highly successful track-record. As part of a continued focus on building an outstanding supporting finance function, Altus Portfolio was appointed by the Chief Financial Officer (CFO) of the fund to source a new Head of FP&A. The requirements were specific, and it was stipulated that the individual must come with at least 5 years’ experience working within a leading fund manager. Alongside this they needed to show obvious leadership ability and interest in improving process and procedures. There was also a relatively limited time-frame on the search, given that the incumbent was departing, so it was key to offer an efficient process. Altus Portfolio utilised an extremely strong finance network to draw together quickly a short-list of relevant candidates from tier-one funds. We then managed the mandate to a swift conclusion, identifying an individual who was looking to make the step up into such a role, as they had reached a glass ceiling in their current fund.