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Bridgepoint rewards team

The European mid-market buyout firm has promoted a number of staff on the back of an active 2007 and as it hits the final straight in its €4 billion fundraising effort.

The European buyout firm has promoted six staff to partner and it has appointed two business grandees to its advisory committee.

The six promoted staff are: Vincent Briançon and Xavier Robert in the Paris office; Christopher Busby, who leads Bridgepoint’s support services team;  John Davison, the head of the financial services sector team; Patrick Fox,  a member of the operational support group; and Lucio Ranaudo, responsible for Bridgepoint in Italy.

The wide-ranging promotions follow an active 2007 for Bridgepoint, which invested €995 million ($1.55 billion) in six transactions and returned €1.1 billion to investors. It is currently raising a €4 billion fourth fund. It has reached this target and is looking to continue on up to a hard cap of €5 billion targeting a final close in May, according to a source close to the fundraising.

The firm also recently bought UK sandwich bar chain Pret a Manger. Terms were undisclosed, but a source close to the deal said it had paid £345 million ($682 million; €437 million).

Separately Barbara Kux and Hubertus Erlen have joined European mid-market buyout firm Bridgepoint’s European advisory committee.

Since 2003 Kux has been a member of the group management committee of Royal Philips Electronics. She has had more than 20 years in executive management positions with the European arm of automotive company Ford, consumer products giant Nestlé, Swiss engineering company Asea Brown Boveri and consultant McKinsey.

Hubertus Erlen is Bayer Schering Pharma, where he has worked for 30 years, rising to chief executive from 2001 to 2006. He is now vice-chairman of the supervisory board of the pharmaceutical company. 

Erlen is a member of the supervisory boards of German pharmaceutical company Celesio and the central advisory board of Commerzbank. He is chairman of the international affairs committee of BusinessEurope, the confederation of European business federations, and chairman of European scientific body Robert Koch Foundation.

They join Chris Patten, Oxford University Chanecellor, Alan Milburn, a UK member of parliament, Francis Mer, a former French minister, Frank Brown, dean of business school INSEAD, and James Crosby, chief executive of UK bank HBoS on the company’s committee.