Glendower taps Goldman for latest New York hire

Glendower Capital has hired a secondaries professional from Goldman Sachs‘s Vintage team as its bulks up its US presence.

The investment firm hired Jonathan Au as a principal, according to a statement seen by Secondaries Investor. Au was most recently a vice-president at Goldman where he had spent almost seven years and was most recently co-head of GP-led liquidity solutions and restructurings there, according to his Linkedin profile.

The firm also hired Kelli Keith as an associate from Landmark Partners. Both Au and Keith will be New York based.

Partner Adam Graev said in the statement that Au’s secondaries experience made him a natural addition to the team, and that Keith’s secondaries and M&A experience added “considerable” resources to the firm’s secondaries programme.

Glendower has hired four staff in its investment team in New York-office over the past year, including John Kopec from Bregal Investments, a spokesman for the firm told Secondaries Investor.

The firm is a signatory to 100Black Interns, a UK-based initiative that aims to promote the prospects of young Black people.

Glendower is seeking $3.5 billion for its latest fund, Glendower Capital Secondary Opportunities Fund V, according to documents from the Louisiana State Employees’ Retirement System. The fund will have global scope and target both LP stakes and GP-led transactions with a diversified sector focus, the documents show.

The firm will target LP stakes deals between $5 million and $500 million and GP-led deals between $100 million and $500 million, and the fund is expected to make between 50 and 60 investments during a four-year investment period.

The team spun out of Deutsche Bank in 2017 with six partners: Carlo Pirzio-Biroli, Charles Smith, Deirdre Davies, Chi Cheung, Joshua Glaser and Graev.

– This report has been updated to include Joshua Glaser as a founding partner and that the firm has hired four professionals to its investment team in the US over the past year.