CDC Ixis Equity Capital, the leveraged buyout division of CDC Ixis Private Equity, has made three appointments at the firm’s operations in Paris.
The firm, which has participated in several large-scale LBOs in France including last year’s acquisition of Cégélec from Alstom has hired former Pricoa Capital executive Antonio Graça. Graça, who worked in the transaction services department at PwC prior to joining Pricoa, becomes an investment director.
Also joining the firm as investment director is Fabrice Georget, who joins the firm from the corporate finance division of Arthur Andersen. His responsibilities at Arthur Andersen included involvement in business turnarounds and advice on a number of M&A transactions.
The third appointment is of company solicitor Sophie Teissèdre. Teissèdre specialised in the field of M&A and real estate as a lawyer with Lacourte et Balas and Thomas et Associés (Deloitte & Touche) before joining the investment fund, Butler Capital, as company secretary. She has been a lawyer with Lefevre, Pelletier & Associés since 2001.
The firm is currently investing from CDC Entreprises II a E450m target fund that was launched last year to invest in medium and large LBOs in the French markets. The new appointments will enable the firm to increase the fund’s activity in the French LBO market, which could be set for a sharp increase in activity following disposal announcements from France Telecom and Vivendi Universal. The French government also looks to set to proceed with a privatisation programme, disposing of some of its stakes in businesses including Air France, Renault, France Telecom and Credit Lyonnais.
CDC Ixis’ most recent deal was its participation in the E1.9bn of TDF, the broadcasting business of France Telecom. CDC Ixis teamed up with Charterhouse Development Capital and Caisse des Dépôts to take a 19 per cent stake in the acquired business.