Keyhaven promotes six while out raising Fund III

The firm, which is seeking as much as $585m for Keyhaven Secondaries Fund III, also made two hires last November.

European lower mid-market secondaries firm Keyhaven Capital Partners has made six promotions as it raises its latest fund.

Sarah Brereton has been promoted to partner, bringing the number of partners at Keyhaven to eight, according to a statement. She is responsible for sourcing, executing and monitoring UK-based and pan-European investments, as well as maintaining relationships for the firm.

On the investment team, Damion Osu has been promoted to investment director, with Michael Haddad moving up the ranks to investment manager. On the operations team, Zaid Tabani has been appointed head of finance; Yunzhen Zhao was promoted to head of fund accounting and Sarah Baha takes up the post of head of compliance.

Keyhaven has realised eight investments over the last 24 months and has completed six transactions in its latest fund, bringing its third fund to 55 percent invested, according to the statement.

The firm is raising Keyhaven Secondaries Fund III, which secured the equivalent of $163.17 million by December, according to a filing with the US Securities and Exchange Commission. The firm made a first sale in December 2020 and has a hard-cap of $585 million in dollars, the filing showed. The firm is raising in euros.

The latest fund the firm raised was Keyhaven Secondaries (Top Up) II, which closed on €105.6 million in 2019, surpassing its €100 million target, according to Secondaries Investor data. The vehicle supplemented its 2017 vintage Keyhaven Secondaries Fund II, which closed on €245.7 million having targeted €350 million.

The promotions follow the hires of Diana Marr as investment director and Vignesh Kumaravel as investment manager in November. Marr was most recently a managing director with BDO Corporate Finance, while Kumaravel was an associate with Kester Capital.

Keyhaven has invested or advised on in excess of €2 billion and made more than 60 secondaries investments in Europe since it was founded in 2003, the statement said.