Cipio Partners, a Munich and San Jose-based secondaries investor, has promoted Diana Meyel and Roland Dennert to managing partner.
Meyel, who joined Cipio in 2005 and became the firm's chief financial officer in 2009, had previously worked at venture capital firm Wellington Partners.
Dennert began his career at The Boston Consulting Group before moving to UK-listed private equity house 3i Group. He joined Cipio in 2005.
Meyel and Dennert join existing managing partners Maximilian Schroeck, Hans-Dieter Koch, Werner Dressbach, and Tom Anthofer in the firm's senior echelon.
Koch, co-founder of Cipio, explained the rationale behind the promotions. “They have been strong contributors to Cipio’s success by leading new transactions, growing the value of our portfolio companies and raising capital for our funds. We are delighted to have a generation of younger partners join Cipio’s management team and believe this to be the foundation for the continued success of the firm in the future.”
Cipio closed its sixth fund in January on €137 million. The firm had previously invested on a deal-by-deal basis, but Cipio Partners Fund VI was its first blind pool of capital. The firm has made a string of direct secondaries investments recently, as well as divestments, which included the sales of PSS Systems to computing giant IBM and buyVIP to online retailer Amazon.