LP platform Titanbay launches

The platform allows small and medium-sized institutional and professional private investors to easily access and strategically invest in PE funds.

The management team is led by entrepreneur Thomas Eskebaek, who previously worked at Bain & Company and Eight Roads. The team also includes COO Laura Heely, who moved into technology strategy after beginning her career in investment advisory at JP Morgan; and head of investor relations Adam Harrison, who was formerly managing director at Capital Group, and before that at Standard Life.

Eskebaek said: "As the market consolidates and the large institutional LPs focus on consolidating their portfolios, all GPs recognise this trend and recognise the need for strategic investors. We come in with institutional cheque sizes and we think, as an LP, we are very easy to work with. We don't have complex side letters and we do first closes."

Fund selection is led by an investment advisory board. Titanbay launched to a closed network in spring this year and has now completed its first investments. The company aims to curate a diversified selection of around 8-12 new funds a year onto its platform. Eskebaek told Unquote the firm is currently working with a number of large buyout funds and has recently added a special situations fund to the portfolio.

Titanbay has a 1% set up fee for clients and a 0.5% annual maintenance fee.

The company is currently focused on European funds, but Titanbay is looking to invest in other funds around the world. While the majority of clients are currently from Europe, the company expects to expand to accept more global clients.

Eskebaek said: "We've set out to help these smaller institutional investors build a strategic portfolio, to enable those investors to invest in PE with the same level of access and sophistication that larger investors do."

Titanbay tends to work directly with funds, though Eskebaek told Unquote the company is open to working with placement agents.

When asked about whether he was concerned about the current fundraising market due to the coronavirus, Eskebaek said: "We don't foresee a shortage of funds. We're excited about the funds that we're speaking to and we have a number of interesting funds coming up in our pipeline. At times after dislocation, we find funds raised are often very strong vintages."

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• Topics
• UK / Ireland
• LPs
• United Kingdom