CVC moves into debt management

European private equity investor CVC Capital Partners has launched Cordatus, a debt management business with the recent appointments of two former Deutsche Bank execs.

CVC Capital Partners has announced the appointment of Jonathan Bowers in its newly-established independent debt management business Cordatus.
 
A spokesperson for CVC said that Cordatus was launched at the beginning of last week and CVC is currently in the process of visiting “key sponsors and arrangers”.
 
The spokesperson added that Cordatus would be entirely segregated from CVC, operating from a different building and with no unauthorised access to the firm’s IT systems.
 
No information has been disclosed as to how much capital Cordatus was seeking to manage.
 
Cordatus will provide financing for sponsor-backed European leveraged buyouts including, but not limited to, CVC transactions.
 
 “CVC see the business as a natural evolution,” said the spokesperson. “The company has consistently been one of the top players in the leverage market, which has provided strong relationships with sponsors and arrangers for a number of years.”
 
Bowers will work alongside chief investment officer David Wood, who joined CVC in April and was formerly co-head of European leveraged finance at Deutsche Bank and, before that, a senior banker in acquisition finance at JP Morgan.
 
Bowers has been part of the European leveraged finance group at Deutsche Bank for the past eight years. In that time, he has worked on a number of CVC transactions, including Kappa, Jefferson Smurfit and Lecta.
 
In separate news, CVC has hired Domnin de Kerdaniel as managing director and Nicolas Mouté as a director in its Paris office. Both men will join the firm later this year, according to the spokesperson.
 
De Kerdaniel previously worked in the Paris LBO team at 3i, focusing on public and private investments in France and the Benelux. Prior to 3i, he was a principal at Kohlberg Kravis Roberts for five years and, before that, worked on M&A at Salomon Brothers.
 
Mouté will join CVC from ING, where he was managing director, head of acquisition finance France. Prior to that, he worked at the Bain Consulting Group in Paris and London.