Ancala announces promotions across the firm

In the Investment Team, Michael Hegarty and Jayden Muscat have been promoted to Vice President and Kevin Xu to Associate. In the Asset Management Team, Noah Riese has been promoted to Associate and will transition from ESG into a wider role. Emma Ryan has also been promoted to Fund Operations Manager.

The promotions follow a significant period of activity for Ancala. In 2025, the firm deployed almost €800m in new fund investments including Irish telecom tower platform TorLoc Towers, German modular infrastructure specialist MUCH Gruppe and US-based critical chemical pipeline infrastructure company Valentra. Ancala also enabled its portfolio companies to complete strategic bolt-ons including Hausheld Group’s acquisitions of Mako 365 and GreenPocket to become the largest independent smart metering platform in Germany and Avincis’ acquisition of Danish offshore wind servicing firm KN Helicopters.

In addition to the promotions, Ancala continues to build its team with new hires. Most recently, Ancala has added Tanvi Ahuja as Vice President in the Investment Team, Grace Williams as ESG Analyst and Bethany Duncan as Human Resources Manager. In the last twelve months alone, the firm has made 16 new hires.

Spence Clunie, Managing Partner, commented:

“These promotions reflect the quality, dedication and ambition of our people and demonstrate our commitment to developing talent from within. As Ancala continues to grow, investing in our team remains fundamental to delivering the best outcomes for our investors, our portfolio companies and the communities they serve.”