Old Mutual Alternative Investments has appointed Gareth McElhone as Partner in its Hybrid Capital team, adding more than two decades of investment banking and private capital experience as the business continues to grow its Hybrid Capital strategy across South Africa and the rest of Africa.
McElhone is a CA(SA) with extensive experience across investment banking, private capital, mezzanine finance, equity investing and transaction advisory. He joins from Nedbank Corporate and Investment Banking, where he spent 9 years and most recently served as Head of Alternative Equity.
In that role, he led a strategy spanning mezzanine finance, venture capital and equity co-investments, with a particular focus on working with private equity sponsors, investment holding companies, family offices and other capital allocators across South Africa and sub-Saharan Africa.
His career also includes seven years in investment banking at Standard Bank, where he focused on the origination, structuring and execution of structured capital and mezzanine transactions. Earlier in his career, McElhone worked with European Capital in London, focusing on leveraged buyout and mezzanine investments in the European mid-market, following transaction advisory and financial services experience with EY across Cape Town, New York and London.
Across these roles, McElhone has developed deep expertise in structuring flexible capital solutions across the debt and equity spectrum, including mezzanine finance, preference shares and equity co-investments. His experience spans the full investment lifecycle, from originating and assessing opportunities through to structuring, execution and ongoing investment management.
“Gareth brings a depth of private capital experience that aligns strongly with how we are building our Hybrid Capital strategy. His ability to originate opportunities, structure flexible capital solutions and navigate complex transactions will add significant strength to the team as we continue to grow our team. We look forward to the perspective and relationships he will bring as we expand the solutions we can offer businesses and our investors,” said Mujaahid Hassan, Head of Hybrid Capital.
In his new role at Old Mutual Alternative Investments, McElhone will focus on originating, structuring and executing Hybrid Capital opportunities across South Africa and the rest of Africa. He will also contribute to the continued development of the strategy and work alongside the broader investment team to identify opportunities where flexible capital can support acquisitions, growth and long-term value creation.
His appointment further strengthens the depth of investment and transaction expertise within the Hybrid Capital team as the strategy continues to build its presence across African private markets.