Challenge:
After closing their first fund and with plans to launch their second soon after, Elbow Beach Capital were seeking a fund CFO to establish a robust internal financial structure to support the next phase of growth. With the second fund backed by the British Business Bank, it was crucial to find someone with experience managing the internal finances of a fund of their size.
Action:
We demonstrated strong calibration profiles to the leadership team, outlining what was achievable in the market and the pros and cons of each option. They also provided guidance on compensation parameters. After an efficient interview process, Elbow Beach Capital hired one of the first profiles that we had identified and shared.
Impact:
This fund CFO hire was the first of three roles our team was mandated to fill, with the firm also requesting us to hire an Investment Director and an Investment Manager. Strengthening both their Investment team and internal fund finance function has positioned Elbow Beach Capital to effectively deploy the £80m raised in Fund II, while also preparing them for a rapid launch of Fund III in the coming years.
Jon (JP) Pollock (CEO & Managing Partner) at Elbow Beach Capital, commented: “Finatal was a genuine partner throughout our search. They truly understood the brief from the outset and consistently demonstrated a clear grasp of the specific needs of our business and what we needed to achieve in building out the finance function. Their ability to translate our specific needs into a targeted and efficient search process was invaluable. They balanced listening to what we needed with analysing our decision-making very well, which I think was critical to us landing the perfect candidate! We felt supported at every stage and are delighted with the outcome.”
Michael McConnell (Head of Capital Formation & Investor Solutions), said, “This was a critical hire at an important moment in Elbow Beach Capital’s growth journey. They needed someone who could bring credibility, structure and the right level of fund finance expertise from day one. The success of the search came from strong alignment early on, a clear brief and a decisive process.”