Private Equity Secondaries Firm BEX Capital Appoints Stéphane Chevrier, Opens New York Office
Private equity secondaries specialist BEX Capital has hired Stéphane Chevrier as Partner, Head of Origination and Member of the Investment Committee. He will address opportunities in the North American secondaries market from BEX’s base in New York. Chevrier joins BEX Capital from Invesco Private Capital, formerly OppenheimerFunds, where he was responsible for private equity in New York. Prior to joining Invesco, Chevrier ran his own business, Equifin Alternative Investments, with a focus on intermediation in secondary private equity markets. In the early 2000s, he took part in establishing Ardian’s US secondary business and investor relations, first from Paris and then as part of its New York office from 2004 to 2010 where he was a Managing Director.
BEX Capital has also promoted Alexis Ferrer to Partner and Head of Investments and has hired two Investment Analysts: Victor Fuzat and Vincent Letellier. Both have previous experience in the private equity secondaries market.
Chevrier commented: “BEX Capital is a unique player in the private equity secondaries arena, being the first and still the only firm entirely and solely focussed on acquiring positions in private equity FoFs, secondary funds and co-investment funds. Its investment strategy has driven superior risk-adjusted returns and created a loyal investor base. I’m very proud to join the team at this key stage where I can contribute to further lifting the firm’s profile in North America, both in deal sourcing and in fundraising.”
BEX Capital Founder and Managing Partner Benjamin Revillon added: “The US private equity secondaries market remains by far the deepest pool of assets in the world. Even though it can be addressed from anywhere, we felt it was important to open an office in New York to fully be part of the local ecosystem. We are therefore very happy to welcome Stéphane whom we have known for many years to lead our efforts in North America. Despite its challenges, 2020 has been a very important year for BEX during which we closed our largest transaction ever, a $150m investment, and have significantly increased the size of our team. We believe that we are very well placed to benefit from the opportunities that undoubtedly will present themselves as the world emerges from lockdown.”
BEX Capital, founded in France in 2010, is dedicated to the acquisition of positions in global private equity fund-of-funds, secondary funds and co-investment funds (as opposed to positions in direct funds). It has over $500mn of capital under management.
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