Duke Street builds buyout team

The private equity firm has appointed two additional investment managers as it seeks to exploit dealflow in the European media and healthcare sectors.

Duke Street Capital, the European buyout firm, has made two appointments which increase the firm’s buyout team to 20 personnel.

 

Corinne Margerit and Oliver Mayer are to join the firm as investment managers at the London office, with particular focus on media and healthcare. Margerit joins from CSFB where she spent five years in corporate finance in London and New York specialising in healthcare, where DSC has already been active this year.

 

Mayer joins the firm from Rhône Capital focusing on leveraged buyouts and M&A in the United States and Europe. Previously Mayer worked for the media and telecoms group at Donaldson, Lufkin and Jenrette in New York.

 

Duke Street head of private equity Peter Taylor said the appointments came at a time when the firm’s European deal flow was 'increasing rapidly'. Recent deals for Duke Street have focused on the fitness and healthcare sectors, including the acquisition of Esporta and Invicta Leisure for a combined total of just under £300m. In late September, DSC also agreed to pay £54m to acquire UK-based nursing home operator Thornbury Nursing Services.

 

The past six months have seen Duke Street expand its network of European offices, most recently with the creation of Iberduke Capital Partners, a company 51 per cent-owned by DSC which is being led by Robert Warfield. Iberduke, which will target opportunities in Portugal and Spain and is based in Madrid, is in the process of raising its first fund, Iberduke Participaciones, having recently completed its first close at E80m.

 

The Spanish office adds to the firm’s existing three European centres in France, Germany and the UK. Head of the UK operation is Tim Lebus, while the French team is led by Frédéric Chauffier. Ervin Schellenberg was appointed to head the firm’s German operations in May.