Föcking joins EQT

Royal Bank’s German head of leveraged finance has been poached to help build a mezzanine business for the Nordic private equity house.

Michael Föcking, who until recently managed Royal Bank of Scotland’s German leveraged finance business, is joining Nordic private equity firm EQT Partners.

According to Conni Jonsson, EQT’s managing partner, the appointment comes as the firm is looking at opportunities to add a mezzanine function to its business. Jonsson said he was open-minded about what shape such a mezzanine business might take, and did not rule out that EQT might raise a dedicated mezzanine fund going forward. However no decisions have been taken as yet, Jonsson said.  

Föcking will be joining as partner to work with Patrick de Muynck, who was recruited in December 2001 with a background that includes several years in the leveraged finance operation of HSBC Investment Bank where mezzanine transactions were part of the brief.

Föcking, having set up the Frankfurt office of RBS Leveraged Finance, was an important figure in the bank’s continental European effort which covers Germany, Austria, Switzerland and Scandinavia. He was closely involved in structuring debt used in major continental LBOs including Messer Griesheim, Leybold Optics and Cognis, and helped develop a new type of mezzanine product aimed at the German Mittelstand.  

EQT manages a group of private equity funds with equity commitments exceeding E3bn and is sponsored by Investor AB. Since its inception in 1994, the firm has invested in 27 companies and made six exits. Offices are located in Stockholm, Copenhagen, Helsinki and Munich.