People News September 2005 2

Board member for SYIF

Julie Readman, managing director of Business Link South Yorkshire, has joined the board of South Yorkshire Investment Fund Ltd (SYIF), which invests in fast-growing businesses in the region.

Readman has been involved in the regeneration of the South Yorkshire region for the past 16 years with organisations such as Training & Enterprise Councils and Business Links.

Business Link South Yorkshire offers access to support and advice for new and existing businesses in the Sheffield, Rotherham, Doncaster and Barnsley areas to help them grow and develop successfully.

New IVCA head

Desmond Fahey, chief executive of the Dublin Business Innovation Centre, has been elected chairman of the Irish Venture Capital Association (IVCA). He replaces Shay Garvey, partner in Delta Partners, who has completed his term of office. Fahey is also a member of the board of the European Venture Capital Association.

Doughty Hanson principal appt

Doughty Hanson Real Estate has appointed Douglas Edwards as a principal and member of its management committee. Based in London, his prime responsibility will be to further the investment strategy of Doughty Hanson & Co European Real Estate Fund II, as well as originating transactions across the fund’s target investment markets. The fund is to be launched later this year and is to be led by John Howard.

Edwards has over 19 years’ experience in the real estate sector, most recently as director and principal of AXA REIM’s Real Estate Private Equity Fund. Before that, he was a director of RoProperty Venture Capital, the real estate private equity group of Rodamco. Prior to that, he spent 12 years at UBS in their London and New York offices, latterly as executive director of real estate.

Hannes promotes

Finnish law firm Hannes Snellman has made four promotions. Matti Engelberg, who joined the firm in 2003, has been promoted to partner. Before joining the firm, he was head of legal services and chief legal counsel for Nordea Debt Capital Markets.

Ossi Haapaniemi has also been made a partner. He joined in 2004 as a corporate finance tax specialist and head of tax. His career to date has included positions as tax auditor at a provincial tax office, tax manager at Arthur Andersen, as well as director and partner in charge of structuring and taxation of M&A and capital markets transactions at Evli Corporate Finance (later Evli Bank.)

Mikko Heinonen is now co-head of M&A at the firm having been a partner in charge of Hannes Snellman’s office in Turku and has substantial experience of M&A, capital market issues, and other corporate transactions with special focus on financing transactions.

Finally, Mikael Damstén has been made head of real estate. An experienced partner in the M&A Group, Damstén specialises in property law and has been in charge of and coordinated a number of major real estate sale and leaseback transactions. He has also handled many company acquisitions and sales.

New faces at Alvarez

Alvarez & Marsal has appointed Dr Peter Mrosik as a new managing director in the firm’s Frankfurt office.

Dr Mrosik will focus on company turnarounds and performance improvements. Before joining the firm he was chairman of Eurobike AG/Fairchild Sports, a maker and retailer of branded motorcycle apparel and accessories such as Harley Davidson. There he was responsible for improving the company’s performance, which included a streamlining of product ranges, cost cutting and brand positioning.

Prior to this he served as managing director of Douglas Corporate Services, a German-headquartered perfume, cosmetics and textiles conglomerate. He was also a director of finance/audit and controlling at DyStar Textilfarben, a €1.1bn joint venture between Bayer AG and Hoechst (now Aventis). He began his career as a management consultant at Bayer.

Altaf Kara is another new managing director at the firm, based in London.

His remit is to work with management teams of underperforming companies or organisations with underperforming arms to develop and implement viable profitability and working capital improvement plans.

Prior to joining A&M, Kara was a consulting partner at Accenture, the outsourcing, consulting and technology firm, where he worked in the retail, consumer products and media industries. Some of his notable engagements included AOL (Europe) BP retail, LG Mart, News Corp, Sears, Somerfield/Kwik Save, Tesco and Unilever. While at Accenture, he also served in several executive roles including head of operations for an online car retailer and chief operating officer of a sports media business.

Halder moves

Halder, the Germany-based mid-market private equity firm, has moved office. It’s new address is still in Frankfurt, but now it is Barckhausstrasse 12-16, 60325 Frankfurt am Main. The phone and fax numbers remain unchanged.

New Summit VP

Summit Partners has named Christian Strain as its vice-president in its London office. Prior to joining Summit he worked at Apax in Paris, France, where he was a member of the information technology and telecoms teams. He was formerly the CEO of London-based Article 27, Ltd., an enterprise software company he founded and for which he raised several rounds of venture financing. Before that, he launched Shockwave, a mail-order company in Boston, Massachusetts.

Abingworth appts partner

Abingworth Management, the life sciences investment group, has appointed Tim Haines as a partner in the firm’s London headquarters. He will identify and create new businesses and provide support for existing companies within the Abingworth portfolio.

Haines is currently chief executive of the Abingworth portfolio company, Astex Therapeutics, and will join Abingworth in September. He has been with Astex for over five years.

Before joining Astex, Haines was chief executive of two divisions of the publicly-listed medical technology company, Datascope Corp.

Quester VCT board changes

Following the Quester VCTs merger, there have been a number of board changes. Christopher Wright has been appointed as a non-executive director. He has transatlantic venture experience in both technology and life sciences, as well as having managed funds in other classes of private equity. He is currently engaged in a number of roles including director of Merifin Capital Group, Brussels; advisory director of Campbell Lutyens & Co Ltd, London; chairman of Wall Street Technology Partners LLC; and chairman of Noble Venture Finance.

David Quysner, formerly chairman of Quester VCT 3 plc, appointed as a director following the merger, has resigned from the board because of new business commitments.

Jock Birney, formerly chairman of Quester VCT 2 plc, appointed as a director upon completion of the merger, has been appointed chairman of Quester VCT plc. He succeeds Tom Scruby, who has served as chairman since the launch of the company in 1996. Scruby remains a director.

Lawyer award for Mourant

Mourant du Feu & Jeune, the Jersey law firm, has been named Offshore Law Firm of the Year 2005 at The Lawyer Awards in London in June for the second year in a row.

The judging panel was made up of the editorial team of The Lawyer as well as a number of financial, commercial, academic and journalistic figures. The award was given to Mourant based on its role in Caspar, a property fund launched by Henderson Global Investors. Caspar combined the advantages to investors of holding an equity interest in property assets with a securitisation to give investors flexible risk management and increased liquidity. Mourant alone was selected to advise the lenders, borrowers and trustees on all offshore aspects of the transaction, with four separate legal teams instructed by the various transaction counsels.

Investec nabs UBS veteran

Michael Lacey-Solymar has joined Investec following an 18-year spell at UBS investment bank, where he was head of the mid-market group for the last seven.

BCV board

Bridges Community Ventures (BCV) has appointed Ronald Spinney and Sir Gulam Noon to its board which includes Sir Ronald Cohen, Peter Williams and Nigel Doughty.

BCV is the UK’s first community development venture capital company, established to invest in ambitious companies in the most under-invested parts of England.

Spinney is a 40-year veteran of the commercial property market and is currently the chairman of Hammerson, a European property company. He joined as chief executive in 1993. BCV has a number of property-backed businesses in its portfolio, which its feels have the potential to generate a significant social impact as well as commercial benefits for investors, and BCV will be drawing on Spinney’s experience in this sector when assessing potential investments.

Sir Gulam Noon is the founder of Noon Products Ltd of Southall, now part of the WT Foods Group of which he is a non-executive director. Founded in 1989, Noon Products Ltd now employs 998 people and in 2003/4 had a turnover of over £100m. It is the UK market leader in both the chilled Indian and Thai ready meal category and has the capacity to produce 1.5 million meals a week.

As part of BCV’s aim includes the fostering of entrepreneurs it is envisaged that Sir Gulam will use his entrepreneurial background and range of advisory positions to examine future investments, many of which are early stage companies led by entrepreneurs.

Lehman adds to real estate team

Lehman Brothers has two new faces at its European Real Estate Private Equity Group. John McCarthy joins as managing director and head of European asset management for Lehman Brothers real estate private equity and mezzanine funds, while Jonas Grander joins as executive director and a senior investment officer. They will both be based in London and report to Gerald Parkes, head of the European Real Estate Private Equity Group.

Prior to joining Lehman Brothers, McCarthy was a partner at O’Connor Capital Partners and head of its European business, managing a portfolio of real estate investments across the region totalling €2.5bn. He also spent 17 years at GE Capital.

Jonas Grander joins from Doughty Hanson & Co Real Estate Fund where he headed its Scandinavian investment programme based in Stockholm. Prior to this he worked for GE Capital in Stockholm.

YFM appts

YFM Venture Finance, the management firm of the £25m South West Ventures Fund, has appointed Peter Davies as investment director. He will lead the fund team, which invests in SMEs with high growth potential in the South West of England.

Davies joins YFM from GP Capital where he was a director, and prior to this he was investment director at Advent Venture Partners.

ISIS hires in London

ISIS Equity Partners has hired Peter Watt within the London new investments team.

He joins from NBGI Private Equity, where he completed a range of deals including

European executive recruitment firm Walker Hamill; the portable accommodation business Wraith Accommodation; and Brownhills Motorhomes, the motorhome retailer.

SVG hires Bird

SVG Advisers has recruited Graham Bird as a fund manager, taking the public equity team to eight. It currently manages or advises combined commitments, funds and segregated mandates of approximately £180m, focused on applying private equity disciplines to investments in listed companies. Bird joins from JPMorgan Cazenove Limited, where as a director he had extensive experience in working with and advising corporate clients at a senior level. His responsibilities included both corporate broking and corporate finance. He spent three years as head of corporate finance at Cazenove South Africa. Prior to that he held positions at Deloitte & Touche, both in London and in Johannesburg.

BancBoston VP

Catherine Lawton has joined BancBoston Capital as vice-president and is to be based in London. She joins from CAI Managers & Co, a New York-based buyout house, where she was vice-president. Prior to this she was an associate at venture capital firm GCC Investments, Inc. She began her career in Merrill Lynch & Co’s investment banking group.

BHF is Steadfast

BHF Private Equity, the German mid-market firm, has changed its name to Steadfast Capital. The current fund under management has been renamed Steadfast Capital Beteiligungen I GmbH & Co KG. The name change became necessary to avoid confusion with BHF-BANK, which has just been sold by its parent company, Dutch ING Group. The Steadfast Capital Fund continues to be financed primarily by the ING Group, although it is planned to attract further investors in due course.

Close Bros promotes

Close Brothers Corporate Finance has appointed two new directors from within the company.

Andrew Merrett joined the firm’s European corporate restructuring group in 2002. Recent high profile restructurings he has advised on include Enron Teeside; the Scandinavian bus company, Concordia; and hotel groups Queens Moat Houses and Le Meridien. He was previously a member of the insolvency team at PwC in London.

Gareth Healy joined Close Brothers in January 2004 from UBS. Although his focus is predominantly the technology sector, more recently he has played a key role in the Close Brothers IPO and management interest support practice, which advises management of private equity-backed companies. Recent deals he has worked on include advising the management of NCP on the sale from Cinven to 3i for £555m, and the sale of the mobile content provider iTouch to For-side, the largest ever acquisition of a UK corporate by a Japanese company.

LDC appts

LDC has appointed Kevan Leggett as its new regional director for the Thames Valley and the South West of the UK. He joins from Ernst & Young where he was head of private equity mergers & acquisitions for the UK. He will head LDC’s three regional offices in Bristol, Reading and Southampton.

Leggett has over 17 years’ transactional experience as an advisor, investor and principal. Since 1998 he has been involved in over 75 deals and has led 25 private equity transactions with an aggregate value of £662m. He has worked in the Thames Valley and the South West for 15 years.

He replaces previous regional director Jonathan Simm, who has decided to stand down

for personal reasons. Simm will remain a senior director and will become a standing member of LDC’s investment committee.

Marsh appts new PE head

Insurance firm Marsh has added to its private equity and M&A team with the appointment of Edwin Charnaud as European practice leader for the private equity and M&A Practice (PEMA). He will be based in the company’s European headquarters in London.

Reporting to Chris Lay, Marsh’s European client practice leader, Charnaud will manage the 72-strong European team and will be responsible for the growth of Marsh’s PEMA business across Europe and the Middle East. His main focus for 2005 will be on developing Marsh’s bespoke transactional risk solutions for the deal community and strengthening the company’s links with the insurance marketplace.

Brown Rudnick

Law firm Brown Rudnick has added three new solicitors to its private equity practice in its London office: Kieran O’Connor, Matthew Sillett and Adrian Yeandle. All three worked together at Osborne Clarke in the late 1990s.

O’Connor and Sillett both join Brown Rudnick as partners from Speechly Bircham where they led that firm’s private equity group. Yeandle joins them as a senior associate from Osborne Clarke’s London office. At Speechly Bircham, O’Connor and Sillett specialised in working with venture capital and private equity funds and their portfolio companies, advising investors and corporations on a range of transactions from start-up structures and financings to complex buyout arrangements. They also advised on fund establishment and structure, including regulatory framework within which such funds operate.

Yeandle was a member of Osborne Clarke’s corporate team and advised both private and public companies on a variety of corporate transactions, including M&A, equity issues and joint ventures, with a primary focus on cross-border transactions. He was also the firm’s country manager for France and was responsible for the firm’s relationship with associate office, Stehlin & Associates.

CIBC appts

CIBC has appointed Norbert Schmitz as a director within its European leveraged finance group. He joins after seven years at Royal Bank of Scotland in both Frankfurt and London, and will join the execution side of CIBC’s leveraged finance group, which now totals over 40 people.

He has considerable experience in leveraged finance, having been involved in a number of notable recent transactions in the German LBO market, including the €1.015bn financing for the buyout of Sanitec and the €375m financing for Debitel.

Grant Thornton appts

Dr Mike Hicks has been named head of Grant Thornton’s management assessment team. In this new role, he will undertake managerial risk assessment for private equity firms to ensure the management team is fit-for-purpose. This will ultimately improve the post-deal performance of a company by identifying areas for ongoing development.

Prior to joining Grant Thornton, he spent a year collaborating with a large number of private equity investors and their advisers to improve the assessment of management teams. This culminated in the production of a report which offers key insights into Hicks’ innovative approach to management assessment.

Before this, he carried out doctoral research on management resourcing strategy by corporations in

five countries at St John’s College, Oxford. In parallel with this, he advised founder-managers on fund raising and exit strategy. He also spent eight years as an investor in Eastern Europe.

Headway hires Toon

Headway Capital Partners, the private equity secondaries specialist, has recruited David Toon as chief financial officer. He was previously the

financial controller for Granville Baird Capital Partners and also group taxation manager for its parent Robert W Baird Group Ltd. Before this, Toon was the tax manager for Credit Lyonnais Securities in London.

He started his career with PricewaterhouseCoopers in the tax and legal services division in Auckland New Zealand, where he qualified as a chartered accountant.

Landmark founder dies

Stanley F Alfeld, the former chairman of Landmark Partners, the US secondaries specialist, has died following a brief illness. Alfeld was the founder of the firm and retired early in 2004. He is survived by his wife Marilyn, his two children Mike and Maggie, and five grandchildren.

LGV appts

Legal & General Ventures has added Zoe Clements as an assistant director and Tim James as an associate to its investment team.

Clements, 32, joins from Royal Bank of Scotland where she worked in the leveraged finance department on a number of mid and large-market buyouts in the UK. Prior to this, she worked for PricewaterhouseCoopers in the company’s business recovery services department.

James, 27, joins from KPMG’s corporate finance division, where he worked on transactions in the leisure and media sectors. He was previously employed at KPMG as an assistant manager on audits for clients in the media and telecommunications sectors.

Chequers hires

Jérôme Lefèvre, 28, has joined French private equity house Chequers Capital as a senior associate. He was previously at HSBC CCF in Paris where he spent four years working in acquisition finance, first in a team dedicated to small-cap transactions and then in the mid and large-cap LBO team.

Probitas moves

Probitas Partners, the global private equity placement firm has moved its San Francisco office. The new address is 425 California Street, Suite 2300, San Francisco, CA 94104.