UBS taps Houlihan Lokey exec to focus on GP-leds

UBS has hired the co-head of Houlihan Lokey‘s GP and fund advisory group as it continues to add to its advisory team.

David Andrias joined the investment bank’s private funds group as an executive director, according to his LinkedIn profile. It is understood that he will focus on GP-led secondaries and that his first day at the firm following a period of gardening leave was last week.

Andrias will report to Philip Tsai, managing director and global head of secondary market advisory, it is understood.

Andrias spent eight years at Houlihan Lokey in the firm’s mergers and acquisitions group and illiquid financial asset practice. He and Richard Saltzman took on overseeing clients of Houlihan’s GP and fund advisory group last October in the wake of the former co-heads’ departures from the bank, as Secondaries Investor reported.

A spokesman for Houlihan confirmed Andrias’s departure and that he left the bank in January. Saltzman, who is director of fund advisory services, continues leading the bank’s day-to-day effort, in conjunction with the sponsors coverage, capital markets and Houlihan’s private funds group.

UBS’s private funds group sits within the bank’s alternative capital group which focuses on financial sponsors and sovereign wealth fund coverage.

A spokeswoman for UBS could not be reached for comment.