Park Hill Group co-founder and chief executive Dan Prendergast will soon be swapping San Francisco for London as the Blackstone Group-affiliated placement agent seeks to ramp up its non-US activities, PERE's sister publication, Private Equity International has learned.
“Consistent with our focus on Europe and Asia as growth areas for Park Hill, I will be relocating to our London office, effective this summer, to help build our European franchise, and be more accessible to Asia,” Prendergast said in an internal email seen by PEI. “I am thrilled about the opportunity to work closely with our team abroad and help make our European franchise best in class.”
Prendergast, who prior to co-founding Park Hill worked for firms including Atlantic-Pacific Capital and Donaldson, Lufkin & Jenrette, will be joining an office of around 10 professionals in London focused on private equity, real estate and hedge fund mandates. The office had been spearheaded by former UBS placement professionals Justin Bower and Chris Leach, however Leach resigned several months ago while Bower left the firm about two years ago to launch placement firm FirstPoint Equity alongside former JPMorgan Cazenove professionals.
Park Hill declined to comment.
The placement firm has been one of the busiest in the real estate and private equity sectors in the past year in Europe and Asia. In Asia, for example, it is advising on SC Management's Real Estate Capital Asia Partners III fund which is targeting $400 million. It also advised on Red Fort Capital's Red Fort India Real Estate Fund II, which attracted approximately $500 million at final closing earlier this year.
Meanwhile in the private equity space, it has been working on Platinum Equity’s third fund, targeting $3.75 billion; Lion Capital’s third fund, which is expected to beat its €2 billion target; and Denham Capital, which is targeting $2.5 billion. Last year it also helped closed some historic funds, including the largest-ever secondary fund – Lexington Partners’ $7 billion seventh fund – and Centerbridge Partners’ second fund, which hit its hard-cap of $4.25 billion in the spring.