(PrivateEquityCentral.net) Boston-based private equity firm Advent International announced this week it promoted Pascal Stefani to partner in the firm’s Paris office. Stefani had been a principal for the firm.
Stefani joined the firm in 1998 from Financière Natexis, which was formerly known as Financière Saint Dominique. Stefani will continue sourcing and assessing opportunities in France. He also sits on the board of Loxam, a French construction equipment rental company.
Advent also announced it promoted Marion Lippert to investment adviser in the firm’s Frankfurt office. Lippert had been an investment consultant. She joined the firm in 1999 from JP Morgan.
Last month, Advent dissolved its proposed acquisition of Bayer AG’s rubber and plastics industry supplier subsidiary Rhein Chemie Rheinau. The deal, which was valued at for €215m, was dissolved based on a mutual agreement.
Advent had a busy 2002 on the acquisition front. In June, the firm backed the management buyout of UK discount retailer Poundland for £47.5m. In May, it purchased German pharmaceutical company Viatris from specialty chemical company Degussa for €375m.
Also in 2002, Advent announced it closed its second fund targeting Latin America, Latin American Private Equity Fund II (LAPEF II), on $265m.
Advent International is one of the world's largest private equity firms, with $6bn in cumulative capital raised and offices in 13 countries.