Hycroft strengthens management team

Ex-Park Hill managing principal and Arrow Point founder Kim Pederson has joined Hycroft, a nascent investment bank set up by Cogent founder Scott Myers.

Hycroft Advisors, the New York-based investment bank and advisory firm, has added to its senior management team by appointing Kim Pederson as managing director.

Pedersen will be responsible for originating new business opportunities and marketing private equity products and services to investors located in Northern Europe and in the Western US, according to a statement.

In 2011 Pedersen founded US firm Arrow Point Advisors, a boutique advisory and placement agent focused on raising capital from European-based investors. He was previously a managing principal at Park Hill Group, the placement agent affiliated with The Blackstone Group.

Scott Myers, managing director of Hycroft, noted many of the firm’s executives had known Pederson for years and said in statement they were “pleased to add such an experienced and knowledgeable professional to our already talented team”.

Last month, Secondaries Investor broke the news that Hycroft was preparing to open its doors. Set up by ex-Cogent founder Myers, the firm’s other managing directors include Patrick Shattenkirk, Neil Banta and industry veteran Loren Boston.

The four professionals Pedersen will be joining at Hycroft have together helped raise more than $65 billion in capital for clients and advised on secondaries market transactions representing more than $75 billion, according to information on their LinkedIn profiles.