DrKC appoints Hungarian director

The venture capital subsidiary of Allianz has appointed Nicholas Kabcenell to its CEE team in Hungary.

Dresdner Kleinwort Capital has named a new regional director for its Central and Eastern Europe team. Nicholas Kabcenell will be based in Budapest, Hungary and will be responsible for Hungary and neighbouring countries.

Kabcenell will work with Janusz Heath, head of DrKC's 15-member Central and Eastern Europe team. He will be a member of DrKC’s investment committee as a partner in DrKC's $225m Emerging Europe Fund.

Kabcenell joins DrKC from the alternative telecoms operator Carrier 1 International, where he was head of strategy and M&A from 2000 until earlier this year. Previously, he worked at Schroder Salomon Smith Barney in its London based emerging markets investment banking group with a focus on Central and Eastern Europe.

The most recent investment made by the Emerging Europe fund was the $5m expansion capital investment in Radio PLUS, Poland's third largest commercial radio station, which completed in May.

Janusz Heath, who could not be reached for comment, said in a statement that the appointment was part of a strategy by the firm to intensify its private equity efforts across the region.