Park Hill hires PineBridge exec

Former PineBridge Investments head of European secondaries Pablo Calo has joined the Blackstone affiliate to run secondary advisory work from London for clients across Europe.

Park Hill Group has hired former PineBridge Investments European secondaries chief Pablo Calo as a managing principal based in London to focus on providing secondaries services to clients across Europe, the firm said.

Calo most recently worked as head of PineBridge Investment’s European private equity secondaries group. Prior to that, he worked for nine years at AIG Capital Partners in New York and Buenos Aires.

“[Calo] brings a strong tenure as a secondary investor, insight as a limited partner and extensive experience in direct and mezzanine investments globally,” Larry Thuet, a senior managing director at Park Hill, said in a statement.

Park Hill has been building its capabilities around secondaries advisory work. Earlier this year, Park Hill, which is owned by The Blackstone Group, hired former Coller Capital executive Andrew Caspersen to focus on helping GPs restructure funds that are approaching the end of their lives.

PineBridge Investments, on the other hand, has been shedding talent both on the secondaries and primary sides. The two groups have “re-integrated” under the leadership of Steve Costabile. Earlier this year the firm lost its head of private equity secondaries, Harvey Lambert, and managing director Kennon Koay. At the time, PineBridge was raising its third secondaries vehicle targeting $1.3 billion. It’s unclear how much that fund has attracted at this point, or if it is still in the market.

On the fund of funds side, the firm lost Rhonda Ryan, head of European investments in the private funds group, as well as Kristina Matthews, managing director for Central and Eastern Europe investments.