Oliver moves on to consultancy role as Valad tipped for Kenmore fund mandate

Paul Oliver has become a consultant at pan-European fund manager Valad. Oliver was formerly Valad’s chief investment officer and part of the company’s senior management team and played a leading role in investor relations and fund raising.

He joined Valad two and a half years ago, when the Australian company paid £865m for Kevin McCabe’s property business, which included a majority stake in Teesland IOG, the fund manager that bought Oliver’s Equity Partnerships in 2000.

Oliver will be staying on at Valad until the summer. Several senior staff who joined Valad as a consequence of the takeover have moved on since their two-year lock-in periods ended after the takeover.

Last month, Didier Tandy, formerly at McCabe’s Scarborough Properties, left to set up a trading company called Sunny Day with Stephen McBride, who was formerly head of Valad’s capital services.

Valad has been tipped to take over management of the €344m Kenmore Europe Fund, after parts of the Kenmore Group went into administration in November. The appointment would be made by the fund’s investors, Lloyds Banking Group and Revcap.

The fund has been managed by Kenmore Financial Services, Kenmore’s investment management business, which did not go into administration but was reformed as Tamar Capital Partners, headed by Rob Brook and backed by investor Joe Lewis. Tamar said in January that it has been appointed to asset manage the Kenmore European Industrial Fund.