PER Completes Management Buyout, Paving the Way for Strategic Growth

July 31, 2025 – Private Equity Recruitment (PER) has announced that its senior leadership team has completed a management buyout of the company from founder Gail McManus. As part of this transition, day-to-day leadership has passed to CEO, Rupert Bell, and managing director, Charlie Hunt, who, alongside other senior colleagues, are now majority owners of the company. “PER has been built on long term relationships and specialist expertise,” Ms. McManus said. “Rupert, Charlie and the team have played a central role in that success for many years, and I’m confident they will continue to uphold the values and culture that define the firm. I’m proud to see them lead PER into its next chapter.”

Ms. McManus founded PER 28 years ago and has shaped it into a leading international search specialist for private markets professionals, with offices across Europe, North America and Asia. Under her guidance, they have built an extensive network and helped over 800 professionals move globally in the last two years alone. Both Mr. Bell and Mr. Hunt have worked closely alongside Ms. McManus for over 15 years.

“PER’s growth has been built on its role as a specialist in private markets, with the most extensive network across the industry and the ability to capture and utilize commercial insights from those connections,” Ms. McManus said. “Above all, the firm has been characterized by long-term relationships – with our clients; with our candidates (many of whom go on to become clients themselves); and with our own people.

“This is an exciting time to start a new chapter in the life of PER,” Ms. McManus continued. “Global markets are recovering. We have experienced strong growth in the first half of 2025, and with new sources of capital opening up, the industry is evolving rapidly. The need for dedicated, expert advice to identify and retain talent has never been greater. The buyout maintains PER’s independence and enables the team to participate in the growth story to come.”

Related: A Private Equity Blueprint To Secure High-Impact Leaders

Founded in 1997 by former private equity investors, PER combines industry expertise with a network and cutting-edge technology to place top talent at all levels of seniority. With offices in London, Frankfurt, Zurich, Munich, Singapore, Hong Kong, Mexico City, and now New York, the firm is positioned to serve clients and candidates globally. Over the past two decades, PER has placed over 4,000 professionals in nearly 40 countries.

Past Expansion to the U.S.

Late last year, PER expanded into the U.S. with the opening of an office in New York City. The firm appointed Oliver Noye as its head of the new location. “Oliver’s extensive experience, industry knowledge, and vast network make him the ideal leader for our New York expansion,” said Mr. Bell. “His proven track record is invaluable as we establish our presence in North America.” With 13 years of industry experience, Mr. Noye has placed senior talent in private markets. Since joining PER in 2021, he has partnered with leading alternative investment managers across Europe and is now charged with the firm’s expansion in North America.

Private Equity Shifts Focus in Executive Hiring

Private equity firms are rethinking what they need from executive leaders. A growing focus on in-person leadership, cultural alignment, and decision-making is reshaping hiring priorities. Kingsley Gate partners say these changes reflect both market pressures and evolving expectations around executive impact. Christine Sobhani and Alison Woodhead, senior partners with the firm, recently joined Hunt Scanlon Media to discuss how private equity firms’ expectations around executive talent have shifted—especially in leadership style and in-office presence.

“Under Oliver’s leadership, our New York office is focused on investment and investor relations roles, building on PER’s well-established relationships with private equity, private debt, growth capital, venture capital, family offices, and infrastructure funds,” the firm said. “Oliver’s ability to understand the unique needs of our clients ensures we remain at the forefront of delivering tailored talent solutions.

Mr. Noye is focused on leading projects for hires across the private markets, including private equity, credit, growth, VC, and infrastructure. He has worked alongside and sat on panels with some of the leading business schools and has advised on best practices to succeed on the buy-side. With over 300 completed mandates, Mr. Noye has built an in-depth network and extensive global track record. Before joining the firm, he was head of private equity at Beaumont Bailey.

Last year, PER also appointed Mr. Bell as CEO taking over from Ms. McManus. “Rupert’s appointment as CEO marked a significant milestone in our company’s journey,” said Ms. McManus. “With his deep industry knowledge, strategic vision, and proven success in expanding our geographic footprint, he is the ideal leader to take us into our next phase of growth. Under his leadership, we are set to strengthen our capabilities in placing senior executives and investment professionals across the entire spectrum of private markets roles, from partner to analyst positions, as well as C-suite roles.”

Having joined PER over a decade ago, Mr. Bell has since established the firm’s presence across the DACH region, with offices in Munich, Frankfurt, and Zürich. He has spearheaded numerous senior executive placements for international firms entering new markets, leveraging his background as a mid-market private equity investor at 3i, Sand Aire, and Octopus.

“As we continue our expansion into new markets, including North America and France, and as our client base returns to its own long-term growth trajectory, we have a tremendous opportunity in front of us,” Mr. Bell said. “Our mission remains clear: to connect exceptional talent with positions that shape the future of private markets, globally. I look forward to driving innovation and growth as we continue to serve our clients and candidates with unmatched dedication and expertise.”

Related: How to Identify Leadership Potential in Private Equity Acquisitions

Contributed by Scott A. Scanlon, Editor-in-Chief and Dale M. Zupsansky, Executive Editor – Hunt Scanlon Media