CD&R strengthens London team

Clayton, Dubilier & Rice, a US private equity firm, has appointed Marco Herbst as a senior principal in its London office.

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.
 

Herbst: joins as Duke Street raises its sixth fund

Herbst has joined Clayton, Dubilier & Rice from Duke Street Capital, where he was an investment director, responsible for transaction origination and execution. Most recently, Herbst worked on the £306.2 million (€464 million) refinancing of Esporta, a UK gym chain.
 
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.