Candover has announced plans to step up its activity in the Iberian market with the appointment of Alejandro von der Pahlen. He will be based in Madrid, although Candover has no plans in the near future to open a full office there.
Von der Pahlen joins Candover from Andersen Corporate Finance, where he was responsible for establishing the firm’s Spanish and Portuguese operations. Prior to joining Andersen, he worked in the corporate finance teams at Lehman Brothers and Credit Lyonnais. He will originate deals in Iberia alongside Gerard Conway, who remains in London.
Candover managing director Colin Buffin said the appointment reflected the increased activity in the Iberian Peninsula over the last decade. “The size and the volume of private equity deals in these markets have grown considerably, driven by corporate restructuring and by privately held businesses needing to compete in the broader European market.”
Von der Pahlen has advised on several transactions in Spain including a management buyout at Hays DX Spain. Commenting on joining the firm, he said the focus on Spain should take a similar pattern to Candover's approach to the UK, France and Germany, where it concentrates on investing in media, IT, financial services, healthcare and leisure.
The move is in line with Candover’s strategy of backing up investment teams in London with local advisors across Continental Europe. In May, the firm appointed former Mannesmann director Kurt Kinzius to work alongside London-based Jens Tonn on German transactions.