CVC rewards team as fundraising progresses

CVC Capital Partners has acknowledged staff contribution with a slew of promotions, including lead roles for the executives that helped secure the independence of the firm’s Asian business.

Roy Kuan and Adrian MacKenzie have both been promoted to managing partners of CVC Capital Partners Group. Kuan is responsible for Greater China, Southeast Asia and Korea. He joined CVC in 1999.

MacKenzie is also core to its Asian business, leading its deals in Australia and New Zealand. He joined CVC’s London office in 1995 and transferred to Sydney in 1999.

The two promotions underline the importance of the group’s Asian operations, which terminated its joint venture relationship with its former bank parent Citi last year. The move cleared the decks for its most ambitious fundraising for the region so far, targeting $4 billion (€2.7 billion), which investors have told PEO may rise to $5 billion.

It would set a record for the region. CVC’s Asia Pacific Fund I, which closed on $750 million in 2000, and Fund II, also a record breaker closing on $1.975 billion in 2005, were raised and managed under a joint venture arrangement between CVC and Citi.

Geert Duyck has also been made a managing partner of CVC Capital Partners Group. Duyck is responsible for CVC’s Paris and Brussels offices and joined the firm in 1998.

Sources close to the firm say it is well underway with its fundraising for a €11 billion European fund.

Michael Smith, chairman of the group, said in a statement: “Each promotion recognises the significant contribution the individuals have made to CVC’s global business and further bolsters CVC’s long-standing international network of offices and stable management structure.”

Daniel Schmitz and Marc Strobel in Germany, head of investor relations Marc St John, Peter Törnquist in Sweden, Hugo van Berckel, Soren Vestergaard-Poulsen in Denmark and Christian Wildmoser in Switzerland have been appointed partners.

Domnin de Kerdaniel has been made senior managing director based in France. Steven Buyse in Belgium, Pev Hooper in the UK, Johan Sjögren in Sweden, Jan Reinier Voûte in Belgium and Gijs Vuursteen in the US have each been promoted to managing director.

CVC has had full autonomy over its European activities since 1993 after it completed a management buyout from the private equity arm of Citigroup Europe.