Clayton, Dubilier & Rice, a US-based private equity firm, has appointed Marco Herbst, formerly of Duke Street Capital, a UK mid-market private equity firm, as a senior principal in its London office.
Before Duke Street Capital, Herbst was an investment banker at Merrill Lynch’s offices in London, where he specialized in the financial services sector, advising on European acquisitions and debt and equity transactions.
Clayton, Dubilier & Rice, which has an office in New York, has invested over $6 billion in 38 US and European businesses since its foundation in 1978. The London office currently numbers 11 investment professionals, including Herbst.
Duke Street Capital has itself made a number of hires since losing founder Ed Truell, who stepped down last year to set up his own firm. The firm, which is currently raising its sixth buyout fund, appointed Didier Bismuth, a former Apax Partners director, and Vincent Dupuy, previously at Newtonmore Advisors, in its Paris office in June.
In London, former Permira executive Charlie Troup joined in January as a partner, closely followed by Colin Curvey, a former Morgan Stanley banker, in March. Sir Neville Sims, chairman of International Power, joined the firm as an operating partner in February.