Robert Chaplin

Tikehau Investment Management, led by Mathieu Chabran (pictured), and BNP Paribas will manage the fund.

Private equity firms paid $8.3bn in fees to investment banks in the first half, according to Dealogic, the highest amount since 2007.

Neil Odom-Haslett joins from Deutsche Pfandbriefbank to lead a push into real estate debt in the UK.