Palamon’s pan-European team, which comprises professionals from eight different countries, targets service businesses across Europe with the potential to access significant top-line growth.
This appointment marks the return to Palamon by Mr Carreras, a Spanish national, who was a member of the Firm between 2003 and 2006. Mr Carreras initially joined Palamon from Goldman Sachs and prior to that worked for McKinsey & Co.
Between 2006 and 2011, he held positions with Cinven in London and Thesan Capital in his home town of Madrid. Mr Carreras obtained MSc degrees from Polytechnic University of Milan, École Centrale Paris and Polytechnic University of Madrid. He holds an MBA from Harvard Business School, where he attended as a Fulbright Scholar.
Louis Elson, Managing Partner, commented:
“We are delighted to welcome Julian back to the Firm. His return is an endorsement of the strength of Palamon’s growth investing proposition as well as the breadth of our reach.
"With his extensive experience, Julian adds further depth to our investment capability across Europe in general and in Spain in particular, a country in which we have been an active investor and in which we continue to have very strong interest.”
Commenting on his appointment, Mr Carreras said:
“Having worked in a variety of roles across the private equity industry, I can see that Palamon’s pan-European investment proposition is unique. I am thrilled to be back at Palamon and I am very much looking forward to working with the team once again.”
Palamon generates returns through driving revenue and EBITDA growth in its portfolio of carefully selected niche companies. The Firm targets service sector companies across Europe with the potential to deliver double-digit top-line growth.
Over the past five years the Palamon portfolio has achieved revenue growth of more than 20% per annum and EBITDA growth of 40% per annum.
Its current portfolio includes Spanish business Grupo SAR, which recently completed the acquisition of Mapfre Quavitae to become SAR Quavitae, the largest provider of elderly care in Spain with annual revenue of €300 million.
The Firm recently also recently acquired Barcelona-based EnGrande, a leading European on-line booking website focused on low cost accommodation.
Palamon, with €1.1 billion of equity under management, is currently investing its second Pan-European fund, Palamon European Equity II, L.P.
