Marc Thiery has joined Englefield Capital, the London-based mid-market investment firm that closed its debut fund in May 2003. Thiery, a German national, has been made a partner in the firm, joining founding partners Dominic Shorthouse, Etienne de Villiers, Eric Walters, Adam Barron and Edmund Lazarus.
The move marks a return to direct private equity investment for Thiery, who prior to joining Englefield was a member of the fund investment team at Allianz Private Equity Partners in Munich.
Before joining Allianz, Thiery had spent seven years investing in European buyouts with Morgan Stanley Capital Partners in London. He started his career in private equity at Apax Partners.
As a professional fund investor selecting European partnerships for Allianz to invest in, Thiery will have had ample opportunity to survey Europe’s private equity landscape and to select a direct investor he wanted to join. Commenting on his move, Thiery said in a statement: “With the perspective of my prior positions, I believe that Englefield is emerging as one of the most interesting buyout and development capital firms in the European market.”
For Englefield, Thiery’s appointment marks the end of a period of intense recruitment activity aimed at building a pan-European investment team. Dominic Shorthouse said in an interview today he did not expect any ‘reinforcements’ to be added to the team in the foreseeable future.
Shorthouse said the firm, which since inception has completed four transactions in the UK, was now ready to make investments in markets across Europe. “When we first started and while we were fundraising, we didn’t have much time to build a pipeline of investment opportunities outside the UK. I think a shift towards greater activity in continental Europe is now very likely,” said Shorthouse.
Thiery will mainly focus on monitoring investment opportunities in Germany and France. Giampiero Mazza, a former principal at MidOcean Partners who joined Englefield in 2003, covers Italy and Spain.
The firm’s other investment professionals are Sam Abboud, Edmund Buckley, Jerome Mourgue D’Algue, William Temple, Frederik Wijsenbeek and Jan Unverhau, who joined in May 2004 from CSFB. Dwight Cupit is Englefield’s chief financial officer.
To date, Englefield has invested in Global Solutions, a UK facility management business; Zephir Investment, which manages a portfolio of wind farms; Resolution, a manager of commercial real estate; and Canopius, an insurance business formerly known as Trenwick Managing Agents and operating in the Lloyds insurance market in London.
According to Shorthouse, The Englefield Fund, which is sponsored by Bregal, the family office, and which has capital commitments of €700 million, will be approximately one third invested once the Global Solutions transaction closes. Another third of the fund’s resources would be deployed over the coming 12 months, he predicted.
Englefield also manages a side-fund, the so-called Affiliates Fund, which comprises capital commitments from 150 individuals.