Eaton Partners adds New York secondaries VP

The firm has advised on 10 complex secondaries transactions totalling $2bn, including one of Asia's first restructurings in 2016.

Eaton Partners, a placement agent and private capital advisor, has added a vice-president to its New York secondaries advisory team.

David Krueger comes to the role from investment bank GCA Advisors, where he was a vice-president in the firm’s financial services and technology group, according to a statement from the firm announcing the hire.

Prior to that he was a vice-president in investment banking at Credit Suisse with a focus on banks, specialty finance and financial technology companies.

Connecticut-headquartered Eaton Partners opened its New York office in October last year under the leadership of partner Steve Eaton. The firm had already opened offices in Chicago and San Francisco since becoming a wholly-owned subsidiary of Stifel Financial Corp in 2016.

The firm has been active in the Asia-Pacific secondaries market, closing one of the first fund restructurings in the region in 2016. The $100 million deal involved 14 consumer and tech assets being moved into a new vehicle, providing liquidity for existing limited partners. It helped the firm win sister publication Private Equity International‘s Secondaries Advisor of the Year in Asia award for that year.

Eaton Partners entered the secondaries advisory business in 2014, partner Jeff Eaton told Secondaries Investor. “We see secondaries as complimentary to the primary side of our business. There are many GPs out there that may benefit from a secondaries transaction or fund restructuring. And we can use the secondaries market to find new primary GPs.”

The firm has completed 10 restructurings, recapitalisations and stapled transactions totaling $2 billion since 2012, according to its website.