Reach Alts appoints private wealth head
Reach Alternative Investments has appointed a head of private wealth following the firm’s strategic alliance with platform HUB24.
Divyesh Bhana has joined the firm from his role as executive director at Aviva Investors where he worked for over six years.
Prior to this, he spent more than seven years at Russell Investments as a senior consultant.
The firm said: “His deep knowledge of the local market and expertise in driving investment solutions will be instrumental in advancing our mission to democratise access to private markets.
“We look forward to integrating Divyesh into the team and leveraging his expertise to strengthen our reach and enhance investor engagement.”
Reach’s strategic alliance with HUB24 was announced last September, with the platform taking a minority equity stake in the firm. As part of this, HUB24 will collaborate with the team at Reach Alternatives and potentially other industry providers to co-design innovative products and solutions to offer a broader range of alternative investment solutions for advisers and their clients.
Currently, Reach Alternative provides access for wholesale clients but says it wants to scale the business by integrating with financial advisers to allow them to assist their clients to understand alternatives.
Reach Alternative describes itself as a tech-enabled investment company that provides access to the global private equity funds for sophisticated and wholesale investors and is led by chief executive Sam Phillips who joined the firm in May 2021.
Also in the alternatives space, Perennial Partners recently appointed Luke Fay as co-head of Perennial Private Investments to strengthen its private market capabilities earlier this month.
Perennial Private Investments runs two funds to provide capital from early-stage private businesses through to exit or public listing. This provides wholesale investors with the opportunity to invest in a diversified portfolio of public companies.
Fay joined from alternative investment firm Artesian where he worked for a decade as managing partner and head of venture capital, leading its private company investments.
Brendan Lyons, co-head of Perennial Private Investments, commented: “Luke’s extensive experience across private markets and investment banking brings valuable depth to our team. His proven track record in deal execution and portfolio management will enhance our capabilities in sourcing new opportunities, supporting existing portfolio companies, and managing successful exits from our investments.”
AUTHOR
Laura Dew
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