Moelis & Company has tapped Kroll for its latest hire amid the ongoing battle for secondaries advisory talent.
The investment bank has hired Kevin Nowaskey as an executive director. He had been at Kroll, previously known as Duff & Phelps, since October 2020. Prior to that he worked on the buy-side at New 2ND Capital, HQ Capital and Partners Group.
Nowaskey’s LinkedIn profile shows he joined the bank this month.
Secondaries Investor understands that Nowaskey will report to Rodney Reid, who joined Moelis as global head of private funds advisory last year, having been a senior managing director with Evercore’s secondaries advisory team.
Nowaskey ranked eighth in Secondaries Investor‘s 2017 ranking of the most impressive industry professionals under 36, now called Next Gen Leaders.
Among the recent deals advised on by Moelis is a $203 million continuation fund process centred on 2012-vintage energy fund Lime Rock Partners VI, Secondaries Investor reported.
The Kroll secondaries advisory team will continue under the management of Dexter Blake alongside managing director Harvey Lambert, who joined in January.
“Harvey has 25 years of experience in the private equity industry and has focused on liquidity in the PE secondary market as both an investor and adviser,” Blake said in a statement. “He has worked on various structures such as preferred equity, strip sales, deferrals, earnouts, swaps, fund recapitalisation and general partner stakes.”
Turnover in the advisory arena has showed no sign of letting up after a frantic 2021. In early April, Secondaries Investor reported that the head of secondaries at M2O, Mike Custar, was to join William Blair to launch a GP-led advisory business. Quinn Kolberg of M2O and Gage Alpert of Lazard are also making the move across.
Also in early April, Secondaries Investor reported that Abhi Mitra was to join UBS as head of GP capital advisory Americas after 11 years with Lazard.
The secondaries advisory market has become increasingly crowded over the past 18 months. Baird and Lincoln International have launched units, while Piper Sandler and Solomon Partners are also understood to be exploring a way in.