04/02/10
New roles created at Candover
In completing the restructuring of its business model, Candover Partners Limited (CPL) announces the creation of two new roles.
Philip Price will become CPL’s Chief Operating Officer. In addition to his existing legal and compliance responsibilities, including managing Candover’s relationships with its law firms, Philip will assume re-sponsibility for Candover’s operating infrastructure including risk, HR and IT. A qualified solicitor, he has held senior legal roles at UBS Investment Bank and Dresdner Kleinwort Wasserstein and was COO of SRM Global Fund, a hedge fund, prior to joining Candover in March 2009.
Kit Tuke has been promoted to Head of Debt, responsible for sourcing and structuring the debt financing in investee companies and new transactions and for managing CPL’s extensive relationships with lenders. Kit joined Candover in 2007 having previously worked for 3i and Barclays. At Candover, Kit has been involved in a number of transactions, working extensively on the buyouts of Stork and Expro, as well as the acquisitions of Palace and Kennywood by Parques Reunidos, leading the recent capital restructuring at Hilding Anders, and completing the successful $1.4bn high yield bond for Expro.
Commenting on these changes, John Arney, Managing Partner, said:
“The significant challenges that arose in 2009 for Candover led to a fundamental review of our business model and afforded us the opportunity to strengthen our organisation and refresh and revitalise our team. Philip’s and Kit’s new roles are a reflection of the high quality of our people and a consequence of our determination to succeed as one of the first fully restructured private equity houses in a much altered European private equity market.”
Ends.
* Candover means Candover Investments plc and/or one or more of its subsidiaries, including Candover Partners Limited as General Partner/Manager of the Candover 1997, 2001, 2005 and 2008 Funds.
