Triago has made a pair of senior hires in its New York office.
The Paris-headquartered placement agent and secondaries advisor has appointed Andrew Rosato as a partner, according to a statement. He joins from MVision Private Equity Advisers where he was a senior director responsible for private equity, venture capital, infrastructure and special situations fund distribution in the mid-west and south-west US.
Prior to that, Rosato spent four-and-a-half years in the fund distribution team of Eaton Partners and held various roles at Royal Bank of Scotland, Nomura and Lehman Brothers, according to his LinkedIn profile.
Rosato is joined by principal Simeon “Sim” Ketchum. He joins from Astor Place Holdings, the private investing arm of multi-asset manager Select Equity Group, where he was responsible for private equity fundraising, investor relations and client development.
They will work on private equity fundraising and sourcing secondaries opportunities, the statement noted.
“As covid-19 upends assumptions and creates new uncertainties, sourcing, navigating and due diligencing opportunities has become an even greater challenge,” said Triago chairman and founder Antoine Dréan. “We are upping our game at a time when clients expect more, but when the resources of many service providers are stretched more thinly than in the past.”
Managing partner Mathieu Dréan told Secondaries Investor last week that Triago has closed on three LP portfolio sales since the onset of coronavirus and is planning to close a $250 million single-asst restructuring.
“Selling today is about unloading non-core assets in an uncrowded market, ahead of a sustained global slowdown likely to push average asset values down,” he said. “With few fund distributions, these sales generate liquidity that sellers are reinvesting in crisis-related opportunities.”