Ex-Cinven founding partner joins FF&P

The wealth manager has hired Andrew Joy as a senior advisor, in a bid to continue expanding the firm’s private equity business.

Fleming Family & Partners, a UK-based family office, has appointed Andrew Joy as senior adviser. 

Starting on 1 July 2013, Joy will be based in London and is to head FF&P’s private equity investment committee. 

He will join from European buyout firm Cinven, where he spent 20 years as a founding partner before becoming a senior advisor in July 2012. He will retain his role at Cinven upon taking on his new responsibilities at the wealth manager.

Andrew Joy

“I am delighted Andrew has agreed to join FF&P and we look forward to working with him both on the continuing growth of our private equity business and on initiatives across the wider wealth management and advisory activities of the group,” commented Mark Davies, CEO of FF&P, in a statement. 

Joy has been involved in a number of high-profile transactions at Cinven, which have included Frans Bonhomme, a French plumbing group bought in 2005 for €893 million, and Newsquest, a newspaper business acquired in 1997 in a €488 million deal. He also has experience in fundraising and portfolio company oversight, having been a member of the firm’s portfolio review committee. 

In addition to these responsibilities, Joy held the chairmanship of the British Venture Capital Association between 1995 and 1996, and is currently a director of the European venture Capital Association. He started his career in investment banking, before joining the private equity industry in 1984. 

Cinven was established in 1997, and initially invested exclusively on behalf of British Coal, British Rail and Barclays’ pension funds. The three of them remain significant LPs in Cinven’s funds. 

The firm’s latest vehicle, The Fifth Cinven Fund, reached a final close last March on €5 billion.