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Hollyport makes first partner promotion since 2013

The tail-end secondaries specialist is investing its seventh fund, which closed last year on its $1bn hard-cap.

Hollyport Capital has made a rare top-level promotion in its investment team.

The tail-end secondaries specialist has promoted Richard Grindrod to partner effective 1 April, according to a statement seen by Secondaries Investor. He joined in 2015 as an associate and is the first Hollyport employee to move all the way up the ranks.

Grindrod is responsible for sourcing, appraising, negotiating and executing LP portfolio sales and complex secondaries deals, the statement said. He joins existing partners John Carter, Edward Gay and Steven Nicholls.

“Rick has as strong track record of identifying value in tail-end private equity secondary transactions and was instrumental in the development of our rigorous investment appraisal process over the last six years. We look forward to his further contributions to Hollyport as a member of the partnership,” said managing partner Carter.

David Rumpf and James Jupp have also been promoted to principal, the statement said.

Rumpf is based in London, while Jupp leads Hollyport’s New York office, which opened in the second half of 2018, Secondaries Investor reported.

Hollyport is investing Hollyport Secondary Opportunities Fund VII, which closed in January 2020 on its $1 billion hard-cap, making it twice the size of its 2017-vintage predecessor.

Among the deals backed by the firm is a GP-led process on 2010-vintage Edison Venture Fund VII, a $156 million deal centred around 10 enterprise software, technology and healthcare assets, Secondaries Investor reported.

Hollyport employs 32 professionals across its London and New York offices.