Alceon’s former private equity executive director Richard Facioni has moved from Alceon to establish a new retail-focussed venture.
Alceon’s investments in the Mosaic listed retail businesses and Alquemie will continue to be overseen by Facioni, through his new business in partnership with Alceon.
Alceon, which oversees a portfolio of around $200 million in investments, will scale up its private equity business significantly as part of its overall growth strategy.
Alceon MD Trevor Loewensohn welcomed the new appointments.
“We are fortunate to have David, who is one of the original Alceon shareholders and Zac, who joined six months ago from Ruffy Geminder’s private investment vehicle Kin Group, to take-over leadership of our private equity business.
“They have been closely involved in driving the business to its current scale.”
Loewensohn also welcomed Facioni’s retail venture.
“Given the rapidly changing dynamics of the retail sector and the opportunities this is likely to present, we are very supportive of Richard’s desire to establish a business focused on his retail sector expertise.
“We plan to partner with Richard and his team on future such investments on a case-by-case basis,” Loewensohn said.
Facioni said he is looking forward to the partnership.
“I have very much enjoyed my time at Alceon and look forward to continuing our partnership, particularly in retail where I see significant opportunity going forward, together with growth capital investments more generally.”
Originally published in Ragtrader.