Altitude appoints Syvret as partner ahead of fund launch

The new fund will have a target of around £20m, more than double the size of the firm's maiden vehicle, which held a final close in June 2012 on £8m. A spokesperson for the firm said the latest vehicle has received support from family offices and high-net-worth individuals.

The new fund, Altitude Two, will invest £1-4m in growth capital investments and buyouts.

Syvret will oversee fundraising and deal origination in his new position, leaving his role as a regional director for business development at Santander after five years with the firm. He will work alongside partners Jonathan Simm and Simon White, formerly of LDC and BDO respectively, who launched Altitude in 2010.

Prior to joining Santander, Syvret spent three years in charge of RBS's corporate business origination team and two years as head of business development at the Goowdwood Estate – home to the earl and countess of March.

Syvret has also previously held roles in accountancy and corporate finance at PwC and KPMG, spending five years at each firm.

Altitude One makes investments of £500,000-3m, and is 70% invested, the spokesperson said. The vehicle made its first exit in 2016, divesting The Care Division to Bridges Ventures-backed Alina Homecare and generating a 2.9x return.

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