Palomar Making Secondary Push

Zurich-based strategic advisor and placement agent firm Palomar Capital Advisors announced last week that it was hiring David Chamberlain as a new managing director.

Chamberlain was most recently a managing director with investment manager Unigestion and was in charge of its private equity group. At Palomar, he will lead a new secondary private equity practice.

Palomar, founded in early 2003, has focused primarily on credit securities and primary private equity funds. It’s entrance into the field of secondary placement agents marks continued interest in the space.

Other secondary private equity placement agents and strategic advisors have been increasingly active in secondary purchases themselves. Allen Capital Partners, an affiliate of the New York Private Placement Network, is seeking $250 million to acquire private equity limited partnership interests for Allen Capital Partners X.

Also, New York-based secondary advisory firm Columbia Strategy has an affiliate, Morning Street Partners, which is raising a fund.