Cinven boosts PE firepower

Cinven, the big European buyout firm, has made a trio of hires for its German operations.

Peter Gangsted will be managing director of Cinven’s Frankfurt office. Julia Otto and Pascal Heberling have joined Cinven as investment executives.

Gangsted was previously a managing director at Allianz Capital Partners in Munich and Otto and Heberling worked in M&A with Goldman Sachs in Frankfurt and Merrill Lynch in London respectively.

Cinven provides private equity for large European buyouts. It has made transactions worth about £10bn since 1995.