HgCapital, the middle-market private firm, is expanding its European team with five appointments. Kai Romberg, Jorg Spanier and Marcus Chandler are appointed in the firm’s German and Benelux offices. Romber joined from The Boston Consulting Group in Vienna, Spanier covered financial sponsors at Citigroup and Bleeker was with Merrill Lynch in London. Philipp Schwalber is transferring to Frankfurt from London. HgCapital focuses on companies with an enterprise value of up to €400m. It has just exited FTE, an automotive parts supplier. (See page 9.)
- David Hutchings, the UK-based private equity consultant, will take up a new position with Axa Private Equity. He is joining the firm from Cambridge Associates, the US gatekeeper, which he joined five years ago. Katherine Campbell and Daniel Leith, who are based in London, and Andrea Auerbach in Boston will look after Cambridge’s European manager evaluation services after Hutchings’ departure.
- Dunedin Capital Partners, the UK middle-market private equity firm, promoted Mark Ligertwood and Duncan Macrae to investment directors. They have been with the firm for six years and four years respectively. Ligertwood is responsible for initiating investment opportunities in London and Southern England. He has specific expertise in the financial services and support services sectors, having been involved in Dunedin investments, including the MBO of ABI. Macrae’s primary responsibility is to originate new investments in the Midlands and the North of England. He has a particular focus on the healthcare, chemicals and waste sectors.
- Close Brothers Private Equity, the UK mid-market private equity group, is expanding its team with the appointment of a new investment manager, Andrew Nelson. He will join CBPE’s 12-strong investment team, which raised its seventh investment fund in March last year. Around 20% of the fund has already been committed, with the rest available for investment over the next three to four years. Nelson, 29, is a qualified chartered accountant and has worked for Pricewaterhouse-Coopers for eight years in a number of roles, gaining advisory experience in a variety of sectors. Between 2002 and 2004, he worked on secondment to the Secretary of State for Trade and Industry, appraising financial assistance packages for a variety of enterprises.
- Lehman Brothers has made two high-profile appointments to its European leveraged finance business. Charles Pitts-Tucker is appointed head of leveraged finance for Europe, replacing Mark Lies, who is retiring. And Peter Combe is appointed to a newly created position as chairman of European leveraged finance and financial sponsors. Ros Stephenson will now assume sole responsibility for the day-to-day management of the global financial sponsors group.