Goldman continues advisory build-out

Goldman Sachs has made a pair of additions to the secondary advisory business it launched in late 2020.

The investment bank has hired Josef Menasche as a senior vice-president, according to three sources familiar with the matter. He joins from Campbell Lutyens, where he spent seven-and-a-half years, according to his LinkedIn profile.

Goldman has also appointed Ricky Tang from the Private Funds Group at Citi as an analyst.

Both started in December at the investment bank’s New York office. Their LinkedIn profiles have been updated to reflect the moves.

Goldman, Campbell Lutyens and Citi did not wish to comment.

Secondaries Investor reported in December 2020 that Goldman had hired managing director Alex Mejia from Lazard to lead the build-out of a secondaries advisory team. He was joined the following spring by vice-president Spencer Gyory. The team sits within the financial sponsors M&A group, run out of 200 West Street by David Kamo.

Goldman’s advisory business is initially focused on single- or double-asset deals, Secondaries Investor reported in 2020. Among these were a single-asset process on wealth adviser HighTower Advisors, a Thomas H Lee Partners portfolio company, where it co-advised with Evercore.

In a twist, it is understood that Josef Menasche’s sister, Georgina Menasche-Standen, has joined the secondaries team at Campbell Lutyens as an executive. The firm has 23 secondaries advisory professionals in North America and advised on $10 billion of deals last year.

Citi’s Private Funds Group made a number of additions in 2021, including bringing in BlueMountain Capital Management associate Marcel Grangien. He had been at Ardian, according to his LinkedIn profile.

Goldman was one of several investment banks to enter the secondaries advisory space in the past 18 months, including Rothschild & Co and Morgan Stanley, Secondaries Investor has reported.