Spencer will join Arjun next month. Although it is thought his role will primarily focus on growing Arjun’s UK investor base, a source added that he would also be involved in work outside the country.
Spencer departs Campbell Lutyens after more than nine years at the placement agent, where he has held the position of principal since 2016 and was responsible for the firm’s UK institutional investor coverage.
Arjun declined to comment on Spencer’s hiring.
Arjun, which invests on a club deal basis, has an investor base that includes three UK institutions, four Nordic limited partners and up to half a dozen Korean investors. It manages €2.3 billion of capital across 13 investments, the latest of which was the acquisition of a 97MW portfolio of UK solar assets from Ancala Partners in May.
Spencer’s arrival comes at a time when Arjun is believed to be bulking up its team to about 20 people, with five expected to be joining alongside Spencer. Earlier this year, the firm hired Thomas Laverty as partner and general counsel. Laverty had been partner for investment funds at Kirkland & Ellis, having previously spent more than a decade as a managing director on Macquarie Group’s legal team.
Arjun was founded in 2015 and is led by Surinder Toor, a former head of Europe for JP Morgan’s infrastructure unit.