Advent International, the global private equity house, has promoted several of its employees following the recent E2bn closing of its latest fund GPE IV.
The group has promoted Eric Adjoubel to managing director in Paris and Bruce Barclay to a director in the firm’s London office. Tim Franks and Fabio Terlevich, also in the London arm, have been made principals.
Adjoubel joined Advent in 1997 to lead the firm’s expansion operation in France. He began his career at Alcatel and then joined CGCT (ITT) before moving into private equity in 1983.
Prior to joining Advent, Barclay spent eight years in mergers and acquisitions focusing on the European private equity market. At Advent he has been responsible for establishing the European deal generation team, responsible for finding investment opportunities.
Franks has been learning the private equity trade in chemicals and media, while Terlevich has concentrated on electronics, investments in Spain and fundraising.
GPE IV, which has a 70 per cent allocation to Western Europe, will target buyout opportunities and companies capitalised between E100m and E500m operating across a number of sectors. The firm will focus on business services, chemicals/pharmaceuticals, later stage technology and media. Two investments have already been made – Materis, a spin out of the French cement giant Lafarge, and Datek, a North American ebroker.
The closing brings the total funds managed by Advent International to E6.5bn, from which the company has invested in more than 500 companies across 35 countries.