Silverfleet Capital has grown its investment team with the hire of Johannes Huttunen as executive. Huttunen – a Finnish national brought up in the UK – joins from European Capital. Prior to his time at European Capital, Huttunen worked on mergers and acquisitions at Deutsche Bank.
European Capital, which is the London-listed affiliate of American Capital, has suffered a number of departures this year. Investment director Julian Masters left to join UK mid-market firm Bowmark Capital in October, while in September Basil Sakellis left the firm to join HSBC Private Equity as an investment manager.
In May, European Capital's head of buyouts, Simon Henderson, resigned and was replaced by team members Giles Cheek and Alex Morey.
Silverfleet Capital used to be known as PPM Capital. It changed its name to reflect its independence following its spinout in November 2007 from its parent, insurance company Prudential.
Over the summer Silverfleet successfully exited two portfolio companies. In June it sold Jost World, a global manufacturer of components for commercial vehicles, to Cinven for a reported sum of €525 million, and in July it sold its stake in accountancy services company TMF to Doughty Hanson for €750 million.