Mezzanine Management, the UK-based provider of mezzanine and private equity financing set up in 1988, has expanded its team of European directors with the appointment of Rolf Brien.
Brien joins the firm from Pricoa Capital, the mezzanine and equity business of Prudential Financial, where he was responsible for establishing the company’s investment strategy in Germany. Brien has also worked for Goldman Sachs in London and Price Waterhouse in Frankfurt.
Brien will be based in the company’s London office, as part of the senior management team responsible for investment activities in the UK and Continental Europe.
Pricoa has recently been scaling back its European mezzanine operations to focus on US activity.
Mezzanine Management’s funds provide mezzanine and private equity to growth companies in the US and across Europe. The funds typically invest between E10m and E50m per transaction including buyouts, buy-ins, development capital and acquisition finance.
The firm has over E1bn under management invested in 60 companies across 10 countries.
Mezzanine has proved popular with investors over the past twelve months, with a number of firms exceeding fundraising targets. Indigo Capital recently raised E475m for European mezzanine opportunities, exceeding its original E400m target. Nordic Mezzanine also looks set to exceed its original target of E200m for its second fund later this year, following a first close on E150m last month. In 2001, Mezzanine financing worth a total of E4.2bn was deployed in European buyouts. Mezzanine Management's Fund III closed in June 2000 with a final closing of $528.8m. Accession Mezzanine Capital, the firm’s mezzanine fund focused on Central Europe, held a first closing of E76m in May 2002.
“We believe the mezzanine market will continue to develop as companies and private equity sponsors seek flexible debt financing to fund expansion or acquisitions,” said Rory Brooks, founder and director of Mezzanine Management.