17Capital makes ESG-focused board hire

The appointment of Myriam Vander Elst follows that of an ex-Wells Fargo subscription finance executive in May.

17Capital has looked outside the world of finance for its latest board appointment.

The London-headquartered preferred equity specialist has appointed Myriam Vander Elst to its supervisory board, according to a statement. Vander Elst is the chief engagement officer for non-profit organisation Epic, which focuses on improving the lives of disadvantaged youth.

“We are thrilled to welcome Myriam to 17Capital,” said managing partner Pierre-Antoine de Selancy. “We believe her background and experience will prove invaluable, particularly given our absolute belief that strong ESG practices and responsible finance create better business outcomes.”

17Capital and Vander Elst have known each other for 20 years, the statement noted. The firm has provided Epic with pro bono office space and allocated 1 percent of the carried interest from 2016-vintage 17Capital Fund 4 to the charity as part of the Epic Sharing Pledge.

The appointment follows that of former vice-chair of subscription finance at Wells Fargo Dee Dee Sklar as a senior advisor. In July last year, the firm appointed former Advent International partner Beverly Berman to the same position.

The firm is in market with 17Capital Fund 5, which has raised at least €1.45 billion out of a €1.8 billion target, according to Secondaries Investor data. Recent deals it has closed include a £125 million ($161.9 million; €136 million) preferred equity tranche for Exponent Private Equity Partners III, Secondaries Investor reported in July.