Moelis & Company has announced the appointment of Tim Fitzsimmons as a Managing Director in the Private Funds Advisory business providing capital raising, secondary and other independent advisory services to private fund sponsors and limited partners.
Fitzsimmons will join the Firm in August and will be based in New York.
In addition to the appointment, Moelis & Company also announced the final closing for Valor Equity Partners III, L.P., which was 40% over-subscribed. Valor Equity Partners III provides flexible capital to non-cyclical growth companies in the consumer, infrastructure/industrial services and manufacturing sectors. The fund initially targeted $350m and closed with $490m in committed capital, signaling significant interest from a premier group of institutional investors and family offices.
Fitzsimmons will join Moelis & Company with more than 15 years of investment banking experience, having previously worked in Credit Suisse’s Private Funds Group marketing private market investment opportunities across a number of strategies including buyout, growth, private debt and real assets. Prior to Credit Suisse, Fitzsimmons spent four years in Citigroup’s Global Loan Capital Markets and Investment Banking groups.
Rick Leaman, Managing Partner of Moelis & Company, said, 'We are pleased to have Tim join our Private Funds Advisory business. He brings extensive marketing and distribution experience as well as deep relationships with general partners and institutional investors from around the world. As private fund sponsors continue to return capital to investors and look to raise new funds, Tim’s industry knowledge will serve our clients exceptionally well'.
Moelis & Company announced the establishment of its Private Fund Advisory business in June 2014 with the appointment of four Managing Directors including Dave Brown, Patrick Dunleavy, Chris Kirsten, and Zaid Abdul-Aleem.
Leaman continued: 'Our Private Funds Advisory business has significantly broadened the Firm’s capabilities and has made tremendous progress since its establishment last year. We are delighted to add Tim to the management team and announce this successful capital raise for Valor as evidence of that progress'.