Stephen Mostyn-Williams, the former head of acquisition finance at law firm Shearman & Sterling, is to team up with two former Bankers Trust debt professionals in a new debt fund venture.

Lemy Gresh, who used to head the BT securitisation team, and Doug Evans, a veteran of BT's leveraged finance team, are creating a €1bn ($877m) debt fund for private equity house Capvest. Mostyn-Williams is joining as a managing director.