Advent Continues Partner Programme Expansion
Global private equity firm Advent International has added David Yates, ex-president of First Data International, and Kevin Beeston, chairman of Serco Group, to its operating partner programme.
In his new role, Yates will advise the firm on investment opportunities in the financial services sector, with a focus on payments and transaction processing. Based in London, he will also support the firm’s investment activities globally.
Beeston will help identify investment opportunities in business services and will continue in his role as chairman of Advent’s portfolio company Domestic & General. However, he will step down as chairman of Serco Group, having previously served as the group’s chief executive and finance director during his 25 year career in the company.
Advent has been steadily adding industry experts to its operating partner programme. Most recently, it recruited ex-Dunkin Donuts President Will Kussell and Coca-Cola veteran John Sheppard as partners.
Natixis Names New CEO as Sale Looms
Natixis Private Equity, the private equity and venture capital division of French bank Natixis, has named Nicolas Homassel its CEO.
The promotion was announced as the bank prepares to sell its domestic unit to Axa Private Equity. The domestic portfolio has been valued at €534 million.
Homassel replaces CEO Jean Duhau, who is retiring.
Citi Promotes Venture Investor
Citigroup has appointed Sunil Nair as head of its private equity business in India.
Nair currently heads Citi’s international venture capital investment activities in Central and Eastern Europe, the Middle East and Africa and will now take on the additional responsibility of India.
Nair will replace the outgoing head of the India business of Citi Venture Capital International (CVCI), P.R. Srinivasan, who will leave the firm in the next few months.
“India is a key market where CVCI has invested approximately $1.1 billion across approximately 40 transactions,” CVCI CEO Dipak Rastogi said in a prepared statement. “Nair is a senior member of the CVCI management team and one of the most experienced and successful investment professionals in emerging markets private equity.”
GMT Takes on Partner
European private equity group GMT Communications has hired Stefan Franssen as partner. He joins GMT after spending eight years with Cinven.
At Cinven, Franssen was a member of the TMT team with a focus on digital media, TV content and broadcast, outdoor media, publishing, market research, B2B/business information and cable. Prior to Cinven, he worked in M&A at Merrill Lynch and as a consultant at Gemini Consulting.
Nextech Names New Partner
Nextech Venture Ltd., a Swiss venture firm focused on oncology, has named Matyas Vegh a partner following the announcement that Nextech held a first close on €26 million for its third fund.
Vegh joins Nextech from The Genetics Co., a portfolio company from the firm’s first fund, where he was CEO since 2007. He joined The Genetics Co. in 2002 as a scientist. Three years later he was put in charge of business development and intellectual property management of the company.
People Briefs are compiled by European Correspondent Aimee Donnellan