Advent appoints industry advisor

Gilles Denoyel, former president of international institutional relations Europe at HSBC, has been named as an independent industry advisor to the private equity firm.

Advent International has named Gilles Denoyel as independent industry advisor, according to a statement from the firm.

Denoyel will hold the position alongside his current role as senior advisor for financial services at the consulting firm Bain & Company.

Prior to this he worked at HSBC Group for 20 years. Most recently he served as international president of institutional relations for Europe, having formerly served as chief risk officer, head of asset management and insurance and chief operating officer.

During his career Denoyel has held a number of senior management roles and brings with him more than 30 years of operational experience relevant to the business and financial services sector, according to the statement.

“We are delighted to welcome Gilles Denoyel to Advent as an industry advisor. His arrival underlines our keen interest in financial services; a sector that we believe will produce attractive investment opportunities in France,” Cédric Chateau, managing director and head of Advent International Paris, said in the statement.

Business and financial services is one of Advent’s five key investment sectors. Notable investments in Europe include Italian bank ICBPI and payment processing company Worldpay. Notable investments in France include Sophis, a leading provider of portfolio and risk management software for financial institutions and Monext, a processor of electronic transactions.

In March Advent closed its eighth flagship buyout fund on its $13 billion hard-cap after just six months on the road. The fund, which had an initial target of $12 million, was marketed without a return hurdle rate, with limited partners paying 1.5 percent on committed and invested capital and the manager taking 20 percent of profits accrued over the lifetime of the fund, as reported by Private Equity International.

Investors in Advent International Global Private Equity VIII include the Los Angeles City Employees’ Retirement System, Massachusetts Pension Reserves Investment Management Board, the Rhode Island State Treasury, and Fubon Life Insurance, according to PEI Research & Analytics.