Turnaround specialist private equity firm Allegro Funds has promoted managing director Johan Krynauw to partner.
Krynauw joins co-founders Adrian Loader and Chester Moynihan and Fay Bou as partners.
Krynauw joined the Sydney-based firm in 2008 and has been a managing director since January 2022.
Krynauw has been deeply involved in some of Allegro’s most complex transactions. These include the turnaround of Everest Ice Cream, which was exited last year to former private equity executives Jonathon Pearce and Patrick Rodden, and the acquisition of Great Southern Rail in 2015. Great Southern Rail was developed into experiential tourism business Journey Beyond which Allegro successfully exited in 2022. Krynauw was also involved in Allegro’s partnership with KKR on the acquisition of BOS (Bank of Scotland) International’s portfolio of Australia and New Zealand syndicated loans in 2012.
Other significant investments in which Kynauw has been involved have included the acquisition of class action specialist legal firm Slater & Gordon, after school hours childcare business Camp Australia and Perth Radiological Clinic where he currently serves on the board.
Chester Moynihan said Krynauw had been a critical member of the Allegro deal team over many years and had taken a leadership role in originating deals as well as working closely with investee management teams on the transformation of businesses. He made a significant contribution to Allegro’s growth in recent years.
Krynauw’s promotion follows Allegro recently appointing Kevin Martin as chief operating officer and recruiting Rohan Costello and James Cefis as additional members of its investment team.
Allegro is expected to begin fundraising for Allegro Fund V next year.
Image: New Allegro partner Johan Krynauw.