Silverfleet replaces French head with duo

Silverfleet Capital, the former buyout arm of insurer Prudential, has appointed Alexandre Lefebvre as one of two co-heads to replace the outgoing leader of its Paris office.

European mid-market firm Silverfleet has appointed Alexandre Lefebvre as a partner and co-head of its Paris office to replace the departing head Jean-Lou Rihon.

Rihon has announced his intention to leave the firm for personal reasons at the end of the year, after overseeing a hand-over to the incoming Lefebvre and newly promoted co-head Maïré Deslandes. Deslandes has been at Silverfleet for 11 years and a partner since 2007.

A source close to the firm said Rihon's departure would not trigger a key-man clause in Silverfleet's fund documentation.

Lefebvre joins Silverfleet from iXEN, the former buyout arm of French bank Natixis, where he had worked since 1999.

In addition to Lefebvre’s appointment, Silverfleet has also hired Cyril Bourdarot, a former Rothschild banker, as an analyst.

Neil MacDougall, managing partner of Silverfleet, said: “Alexandre's and Cyril’s appointments are a clear demonstration of our commitment to financing mid-market buyouts in France and our intention to add new investments to our portfolio. I thank Jean-Lou for his assistance over the last 20 years in building up our presence in France culminating in the recent and very successful sale of Histoire d’Or.”

The sale of French jewellery chain Histoire D’Or delivered a three times return for the firm when it sold the business to buyout firm Bridgepoint for €417 million in October.