Downing LLP has expanded its development capital team, growing it by 50% since the start of the year.
Both Jon Simon and Gautam Chhabra have been recruited to investment director roles. Simon has joined from BGF where he was a senior investor working across a range of private equity transactions. He has also worked in a principal investment role at Bank of Scotland.
Chhabra has joined from May Capital LLP where he worked on transactions across consumer, leisure and real estate sectors. He served as a director of Punch Taverns and Hawthorne Leisure. Prior to this, he worked within the M&A teams at Lazard, RBS and Merrill Lynch.
Supporting the team is Connor Hamilton as associate director. He joined from Roundshield Partners where he was focused on ‘real assets’ investments, including healthcare, housing and leisure.
In addition, Peter Stapleton has joined from KPMG as an investment executive and Lily Jaskowiak from RSM UK as an investment analyst.
The five recruits this year takes the team up to 15.
Head of development capital Mark Gross said: ‘We are delighted to have such talent join our team as we continue to capitalise on our strong track record and grow our funds under management.’
The development capital team invests in management teams across a range of sectors including older people’s care, specialist care, education, housing and hospitality and leisure, with initial investments between £5m and 50m.