Nova Capital Management, a specialist acquirer of corporate and private equity portfolios, has hired Richard Lobo as an investment partner on its North American team.

The firm opened its North American headquarters in Chicago, IL, in January this year, as Nova looks to grow its US footprint.

“Lobo’s decision to join our team represents a significant step forward in our plans to build a strong presence in the North American market,” said David Williamson, Nova’s managing partner.

Lobo has spent the last 20 years with CHS Capital, a Chicago-based private equity firm investing in mid-market companies in the US. Joining Nova now, he will become part of a larger US growth strategy, the firm said.

“The North American market remains strong for our unique tailor made portfolio approach for corporate and private sellers. Lobo will help support our pipeline of new opportunities as well as the development of our existing portfolio companies under current ownership. We will continue to add resources in Chicago in order to support our growth strategy in North America,” added Williamson.

Nova businesses across North America, Europe and Asia and currently manages a group of portfolios representing a transactional value of about $1.8 billion.