Citigroup has appointed Kamal Tabet global head of its Financial Entrepreneurs Group (FEG), the bank’s financial sponsors transaction services and private equity fund placement business.
Tabet takes up the newly created role having run FEG’s London-based European operation. Mikael Dahl has been named European head of the group. In the US, co-heads Peter Thelan and Brad Coleman will report into Tabet.
The management changes come after Michael Klein, founder of FEG and until recently the de facto global leader of the private equity group, was promoted to CEO of global corporate and investment banking (GCIB) with responsibility for Europe, the Middle East and Africa. Klein, the former co-head of global investment banking at Citigroup, has said that he will remain close to FEG’s activities and continue to support its private equity activities.
European LBO firms on FEG’s client list include Charterhouse Development Capital, Terra Firma Capital Partners and Nordic Capital, for all of which the group acts as placement agent. The fund placement arm of the unit is overseen by Loren Boston, who is based out of New York.
On the transaction side, recent mandates include Charterhouse’s investment in TDF, the French broadcasting tower business, as well as the buyout of Gate Gourmet from SwissAir by Texas Pacific Group. It also advised on several of Stockholm-based buyout firm Industri Kapital’s investments in the European chemicals business.
In Europe, FEG comprises 20 investment professionals. Tabet joined the Citigroup in 1994, after a stint at Lazard’s M&A advisory business.