Patrick Reeve, managing partner at Albion Capital, which manages UCL Technology Fund, has passed his position onto his deputy to become the firm’s first chairman.
Patrick Reeve (pictured) has been reassigned from his current role as managing partner at Albion Capital, the investment firm which oversees University College London’s UCL Technology Fund, to take on a newly-created chairman position.
As a consequence, the managing partner position has been passed onto Will Fraser-Allen, previously deputy managing partner, while Albion Capital partner Andrew Elder has taken Fraser-Allen’s former title.
Reeve’s remit includes chairing the board of directors of both Albion Capital and its specialist investment management arm Olim Investment Managers. He will continue to play a hand in Albion’s strategy and maintaining personal connections for vehicles including the UCL Technology Fund.
Fraser-Allen takes over the day-to-day operation of Albion Capital, including oversight of investments, while Elder will add the deputy role to his existing assignments, which include responsibilities related to the management of UCL’s university venture fund.
Reeve became managing director, a title later adjusted to managing partner, upon Albion Capital’s formation in 2009 from a management buyout of Close Ventures, which Reeve had also helped establish.
Under his leadership, Albion has grown to the point it now has more than £1bn ($1.3bn) of assets under management. Through its Albion Ventures arm, the firm has managed the first $70m iteration of the UCL Technology Fund in collaboration with the university’s tech transfer office, UCL Business, and will also reportedly have oversight of a successor vehicle sized between $95m and $126m.
