BEX Capital, a private equity secondaries specialist, has opened a new office in New York headed by Stéphane Chevrier who joins the BEX team as Partner, Head of Origination and Member of the Investment Committee.

BEX Capital, founded in France in 2010, is the first secondary firm 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 USD500 million of capital under management.

Chevrier joins from Invesco Private Capital, formerly OppenheimerFunds, where he was responsible for private equity in New York. Prior to joining Invesco, he ran his own business, Equifin Alternative Investments, with a focus on intermediation in secondary private equity markets. In the early 2000s, Stéphane took part in establishing Ardian’s US secondary business and Chevrier relations, first from Paris and then as part of its New York office from 2004 to 2010 where he was a Managing Director.

Alexis Ferrer is promoted to Partner and Head of Investments in recognition of his stellar contribution to the continued growth of the firm.

The firm has also hired two Investment Analysts: Victor Fuzat and Vincent Letellier. Both have previous experience in the private equity secondaries market and will further strengthen BEX Capital’s deployment capabilities.

Chevrier says: “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.”

Benjamin Revillon says: “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.

Source: Private Equity Wire