Swiss fund of funds manager Adveq has promoted Benjamin Alt to executive director after six years as a member of the European investment management team, according to a statement.
Alt will continue to focus on primary, secondary and co-investments in German-speaking countries and the Nordics. He joined Adveq in 2008, after working in the investment banking division at Sal. Oppenheim in Frankfurt and Cologne.
Adveq also promoted co-heads of the investment management team Sven Gasser and Swen Kupferschmid to executive director. They are responsible for finance and reporting services of Adveq funds, general partners and segregated accounts.
Hagen Raab was also promoted to executive director. He joined Adveq in 2009 and focuses on the firm’s German institutional clients on the investor relations team.
“Each of those individuals has contributed significantly to Adveq’s success by capitalising on valuable investment opportunities, globalising our institutional platform and delivering excellent service to our clients around the world,” Adveq chief executive officer Sven Lidén said in the statement.
Last year, Adveq promoted its head of Asia secondaries Viswanathan Parameswar to executive director.
Adveq’s secondaries programme focuses on transactions in small buyout and venture capital managers, which has allowed the firm and its clients to access an area less pursued by larger market players, head of secondaries Nico Taverna said last year.
The firm’s most recent dedicated secondaries fund, Adveq Secondaries Fund II, launched in 2013 and closed on $175 million, above its $150 million target.