The senior executives of Quinlan Private have launched a new platform as they seek to rebrand the Dublin-based fund manager in the wake of the departure of founder Derek Quinlan.
Thomas Dowd, Peter Donnelly, Olan Cremin and Mark O' Donnell today announced the creation of Avestus Capital Partners. Avestus will take over the real estate investment and asset management services of Quinlan Private, the firm said in a statement.
Last July, Derek Quinlan stepped down as chairman after 20 years with the firm, although he remained an investor with the firm.
Cremin, Avestus principal and chief executive officer, said the move would also extend the share ownership of the business, which becomes operational on 29 March.
“The creation of Avestus Capital Partners is a carefully considered response to our assessment of the current and future requirements of our investors and, also, our own desire to extend our leadership team and broaden the ownership base,” Cremin said.
Avestus, which manages roughly €8 billion in assets, will also reportedly look to raise capital from US institutional investors targeting roughly “a couple of hundred of million” for the fundraising, according to the Irish Times.