Belgian private equity firm Gimv has hired Peter Maenhout to lead the management of its XL Fund, a Flanders-focused growth equity fund.
He will take up the role from 2 March 2009.
Maenhout joins the firm from US investment manager Amber Capital, where he managed the Benelux office from 2007. Before this he spent 10 years working in mergers and acquisitions at Northern European banking group, Petercam, and prior to that he spent six years at Generale Belgian Bank.
The XL Fund held a €500 million for first close in December 2008. It is targeting a final close of €750 million and will make investments in Flanders-based growth companies with enterprise values between €75 million and €750 million.
Gimv, which is listed on Brussels’ Euronext exchange, is active in the mid-market and growth capital buyout space in Belgium. It has around €1.8 billion of assets under management, including third party funds.