(Bloomberg) -- Mizuho Financial Group Inc. has lost at least four managing directors to Houlihan Lokey Inc.’s private fund group, according to people familiar with the matter. 

The bankers formerly worked at Greenhill & Co., which Mizuho bought last year to beef up its investing-banking business in the US. The departures include Thomas Donovan, who led the private capital advisory business at Greenhill in Chicago and joined Houlihan last month, said the people, who declined to be identified citing confidential information. 

Los Angeles-based Houlihan has been building out its private funds group in recent years to help general partners raise funds, while advising firms on selling or buying stakes in other private market managers. It’s also focused on helping firms raise capital for direct investments and for their portfolio companies. 

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At Houlihan, Donovan will largely help clients with primary fundraising, the people said. A veteran in the placement business that helps private market managers raise funds, Donovan was head of North America Private Equity at Mercury Capital Advisors. Before that, he worked at Lazard Private Capital Advisory and Credit Suisse’s private funds group. He was also the founding partner at Rede Partners LLP, according to his LinkedIn page.  

Private advisory firms have been gearing up to provide a wider suite of services to general partners and have invited interest from investment banks keen to offer these services to their clients. While Raymond James Financial Inc. and Mizuho acquired firms, others like William Blair & Co. and Jefferies Financial Group Inc. hired senior managers to build out their teams.

Representatives for Houlihan and Mizuho declined to comment.

--With assistance from Taiga Uranaka.

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