21 Centrale hires two, promotes one

The French mid-market private equity firm has hired former Finama Private Equity investment officer Jacques Rossignol and former French government investment manager Xavier Payet. The additions bring its investment team to 13.

French private equity house 21 Centrale Partners has been on a hiring spree, appointing Jacques Rossignol as partner, Xavier Payet as investment manager and promoting Vincent Menudier from associate to investment manager.

Rossignol joins the firm from Paris-based Finama Private Equity, where he spent five years as investment officer for the Acto funds. Before that he spent seven years in mergers and acquisitions at BNP Paribas and Goldman Sachs.

Payet joins 21 Centrale from the French government’s treasury department, where he was a manager of

Xavier Payet

investments into energy companies. Before that he worked at Bain&Co as a private equity advisor.

21 Centrale hired Menudier in 2004 and he has worked as an associate on transactions such as: French oil and gas valve manufacturer SRI, which was acquired in 2007; underwear retailer Palmers-Lejaby, which was bought in March 2008; and leisure chain Club Med Gym, which was acquired in June last year for €74 million. Prior to this he worked at the French Venture Capital Association and as an auditor at Lebanese financial services firm Fidus.

Vincen Menudier

 “[The hires] further our strategy of growth, strengthening our team to 13 talented investment professionals,” Gérard Pluvinet, founder and managing partner, said in a statement.

21 Centrale, owned by the 21 Group, has just launched its fourth private equity fund. It typically invests in growth-stage companies in the French mid-market and currently manages more than €1 billion of assets.