Bridgepoint Capital, a UK private equity firm, has hired Lucio Ranaudo as a director in its Milan office.
Ranaudo was previously the director responsible for Italian coverage at L Capital, a Paris-based private equity fund, since 2002. At L Capital he was responsible for originating and negotiationg all Italian deals, including both management buyouts and minority investments, Ranaudo said. Although the fund is headquartered in Paris, Ranaudo was based in Milan.
Before that, he was a founding director of Dresdner Kleinwort Benson’s Fund Italia, an Italian small and medium enterprise focused fund managed by the bank’s subsidiary in Milan.
Bridgepoint’s most recent acquisition in Italy was Limoni, a perfumery chain with more than 400 stores across Italy. Bridgepoint bought 70 percent of the business for an undisclosed sum, while founder Piofrancesco Borghetti increased his stake from 20.3 percent to 30 percent.
Elsewhere in Europe, the firm enjoyed a good year for exits, realising no fewer than 11 investments in 2006. These included Attendo, a Swedish healthcare company, which yielded a 4.4 times return when it was sold to private equity fund Industri Kapital for about €450 million, and CarPark, a Nordic parking operator which produced a 7.5 times return following a €325 million sale to Dutch rival Q-Park.
Bridgepoint has raised €8 billion (€6 billion) of capital to date. It tends to focus on investments in financial services, consumer, healthcare, media, support services and transport.