Fund manager Pengana Capital has hired former Canaccord executive Phil Schofield to establish a capital markets division that will advise smaller companies and offer a more regular stream of investments to Pengana clients.

Pengana co-founder and chief executive Russel Pillemer, who worked with Mr Schofield at Goldman Sachs many years ago, said he hoped to have a few deals – which would range from private or public equity and debt raisings – in the market quickly.