Palamon Capital Partners has rehired former employee Julian Carreras to strengthen its investment expertise in Spain, a country in which the European mid-market specialist has "very strong interest" as it becomes the latest private equity firms to expand its presence there.

Carreras, a Spanish national who will be a principal in the Palamon's London office, returns to the firm after five years during which he has had stints at Madrid-based special situations fund Thesan Capital and pan-European buyout firm Cinven in London.