If you're an investment banking analyst who's looking for a job in private equity, ZZ Capital is still hiring.
The Hong Kong-based investment firm just recruited Nico Haller from Citi for its London office. Haller was a second year analyst in healthcare M&A at Citi, having joined the bank in March 2015 after graduating from LMU in Munich.
He's the latest in a succession of ZZ recruits from investment banks' analyst programmes. Late last year the fund hired second year analyst Shuang Zeng from J.P. Morgan and Alessia Negri from Morgan Stanley. Like Haller, both joined ZZ's private equity arm.
ZZ is a comparatively new arrival in London. It only registered in the UK last September and has been adding staff slowly ever since. The European business (and London office) is run by Sergio D'Angelo, a former investment executive at KKR who - coincidentally - is also a former associate from Citi's investment banking division.
Earlier this week recruiters in London said private equity recruiting has been lame this year as funds in Europe wonder what to do with all their dry powder. Logan Naidu, chief executive of recruitment firm Dartmouth Partners, contests this: PE vacancies managed by Dartmouth were up 15% year-on-year in the first quarter. This was nothing compared to M&A vacancies, which were up 112%, however.