Tullett Prebon Alternative Investments (TPAI) has boosted its US secondaries brokerage business by moving a senior professional to New York and making two other hires, Secondaries Investor has learned.
Bill Arnold, who has been with the interdealer broker’s alternative arm since inception in 2009, has moved from London to lead efforts there, according to a source familiar with the matter. Arnold is listed as being New York-based from January, his LinkedIn profile shows.
It is understood Arnold joins John Corley, a capital raising specialist who re-joined the firm in January having worked with Tullett Prebon in the 1980s, and Alan Swersky, who replaced TPAI’s head of alternative investment North America, Suchita Nayar, in September.
Corley was most recently a business development manager at medical device maker ReliantHeart, and Swersky joined from Schroders Investment Management where he held senior financial planning and due diligence roles.
Secondaries Investor understands the US counts for around two-thirds of TPAI’s private equity secondaries brokerage business in terms of sourcing deals and its buyer base, and the firm typically brokers deals between $1 million and $100 million.
TPAI has 10 staff in London and New York, according to its website. In 2015 the arm launched Tullett Prebon Alternative Investments Matching Engine (TP-AIME), an online platform that facilitates auctions in hedge fund, private equity and real estate fund interests.
A spokesman for Tullett Prebon was unavailable for comment.