Australian stockbroker Patersons Securities Limited has announced that Rod Evans, Shaun Duffy and David De Loub have joined the firm to head up the newly created Patersons Capital Partners.
Australian stockbroker Patersons Securities Limited has announced that Rod Evans, Shaun Duffy and David Deloub have joined the firm to head up the newly created Patersons Capital Partners.
PCP will operate as part of the firm's long-established Corporate Finance division, with a focus on originating fresh investment opportunities.
This will involve fostering new business ventures through partnerships, injection of capital and provision of board and management expertise.
Patersons Executive Chairman Michael Manford said PCP would be a 'manufacturer' of investment product for the firm's clients, both professional and retail.
"PCP will pursue special situation opportunities in the listed and unlisted sectors, with the aim of creating and growing shareholder value," he said.
The core team in Patersons Capital Partners is the successful executive group inside the former Alinta Limited. Rod Evans was Group Manager Acquisitions and Strategy, Shaun Duffy was Group Manager Investor Relations and David Deloub was Group Manager Treasury within Alinta.
Patersons Executive Director and Head of Corporate Finance Aaron Constantine will be the Chairman of the new venture.
Patersons Corporate Finance is already a leader in the Australian Equity Capital Markets having ranked # 1 by number of new equity issues since 2003 and # 10 by value, having raised more than $1 billion in new capital in calendar year 2007.
"Continued growth opportunities and the ability to team up with the right people have created the environment for the establishment of Patersons Capital Partners," said Mr Manford.
"PCP will be an integral part of Patersons and is a logical next step in our growth plans.
"We have used our strong national infrastructure and institutional and retail client base to grow a financial planning business, secure more than $1 billion in funds under management and administration, and a corporate finance team that has the capacity to raise more than $1 billion in a calendar year.
"The recent launch of the Patersons Asset Management funds management business and the establishment of PCP are natural extensions of this.
"This is a high calibre team with substantial experience who will fit seamlessly into Patersons' overall business and culture."
Mr Evans said the experience at Alinta had left the team with a great deal of motivation and capacity to execute significant transactions.
"The fit with Patersons Securities is extremely logical and highly attractive. With Patersons' national business base and its strong research capability, we believe PCP is well placed to create substantial value for Patersons' clients," said Mr Evans.
"PCP will also provide target businesses with access to the substantial capital raising capabilities and other resources of Patersons Securities and Patersons Corporate Finance."
Patersons Capital Partners will commence trading on 1 January 2008.
