To build a pan-European Private Credit team for our Asset Management client with no prior illiquid Debt capability. The CIO had presented the business case and gained support from the broader partnership for initial seed capital and five hires.
Our client ruled out an acquisition due to lack of viable targets and high valuations; and the very high levels of ‘carry’ lock-ins ruled out a lift-out. Hence a team build-out was required.
Our engagement required us first to hire a Team Head based in London, and then to build out local mid-market origination and execution teams in France and Germany over an 18 month period.
Given the competitiveness of Private Credit/Direct Lending over recent years, we had to be mindful of inflated salaries and of carry schemes. As a first-time fund in such a competitive landscape, the client also had to decide on a strategy that was differentiated from other firms.
Our client has a strong collaborative and values-driven culture, so Godliman’s Best-fit Search process was critical in making sure the private debt team fit the overall culture, values and behaviours of the broader firm.
Best-Fit Competitor Analysis and Research
Godliman placed the overall Head of Private Credit within a year (including gardening leave). Once this candidate was in place, we started the assignments to hire the Heads of DACH and France, and their deputies, placing all four positions over the course of the following 9 months.
The Godliman team operate an extremely thorough process and have extensive market knowledge.
A five person Real Estate Investment team build out for an asset owner.
Identifying top performing Emerging Markers teams globally, and completing a 7-person lift out.
A ongoing multi-year hiring strategy to attract market-leading ‘Star’ candidates within priority sectors
