17Capital, the preferred equity firm, has lost its head of marketing, Secondaries Investor has learned.
Rishad Jonuschat left the London-headquartered firm “recently”, a 17Capital spokesman confirmed. He has not been replaced.
Jonuschat joined the firm in June 2014, according to his LinkedIn profile. Since then, the firm has closed its €500 million 17Capital Fund 3 and collected €1.2 billion for Fund 4, which closed above its €800 million target.
Prior to 17Capital Jonuschat spent seven years at Coller Capital in London working on its Europe, Middle East and Africa strategic marketing platform. He has now joined a PR firm.
17Capital’s preferred equity model addresses a gap between debt providers and secondaries buyers. Sellers take on preferred equity, which ranks between debt and equity in the capital structure, rather than selling their portfolio stakes. By doing this they retain exposure to any upside, which would be lost in a secondaries sale.
17Capital was formed in London in 2008 and opened a New York office last year. Its 23 investment professionals focus on Europe and North American investment opportunities ranging from €10 million to €500 million in value.