GP-Leds

Rothschild taps ex-AlpInvest’s Moerel to advise on GP-leds

Rothschild advised on €2bn of GP-led deal volume last year, including infrastructure continuation fund deals for Ancala Partners and DWS.

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Rothschild & Co has hired a secondaries veteran to advise on GP-led transactions as it seeks to expand private capital advisory services.

The Paris-headquartered bank has hired Wouter Moerel, former secondaries lead at AlpInvest Partners, as senior adviser in the private capital advisory team, according to a statement.

Moerel will provide advice to clients and support Rothschild’s private capital business with the original and execution of GP-led deals, particularly continuation vehicles, the statement said.

Moerel joined AlpInvest in 2005 and became head of the secondaries team in 2007. He was promoted to partner in 2016. He left AlpInvest in October, according to his LinkedIn profile.

Rothschild launched its GP solutions business almost three years ago with the appointment of Andrei Brougham and Alvaro Rosado from PJT Partners, who took the respective titles of managing director and director, Secondaries Investor reported in 2021. Brougham serves as head of GP solutions in the team.

Rothschild’s GP solutions team advised on €2 billion of GP-led deal volume last year, the firm’s global head of private capital Chris Hawley said in the statement. The deals included a £551 million ($699 million, €644 million) continuation vehicle for London-based infrastructure manager Ancala Partners, affiliate title Infrastructure Investor reported in July. Pantheon was the lead buyer in that deal.

Rothschild also advised on a strip sale transaction for DWS, which moved its infrastructure portfolio company stakes into a continuation fund, Infrastructure Investor reported in November. Ardian and AXA Investment Managers were lead buyers in DWS’s continuation fund, which raised €550 million of equity and €200 million follow-on investments.

“Our GP clients are dealing with so much more complexity when making decisions about how to fund, hold and monetise their portfolio companies. This fuels the demand for quality advice that can speak to both traditional exit routes as well as the newer alternatives,” Brougham said in the statement.