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PRIVATE EQUITY International PEI_buyPDF_multiple_cover.QXD 15/4/02 7:13 pm Page 1 PRIVATE EQUITY international. Multiple use PDF Conditions of use: This PDF is republished from Private Equity International magazine and is for multiple use. The format and contents of this article remain the intellectual property of the publisher, Investoraccess Ltd. Multiple use means that this article may be reproduced or transmitted in electronic format. It may also be photocopied for distribution. It may not be resold in any form. Colour reprints of this article are available from the publisher and can be ordered by calling +44 20 7778 0055. Whilst every effort has been made to ensure the article's accuracy, the publisher accepts no responsibility or liability for any claim relating to the accuracy of its content. Investoraccess Ltd will rigorously prosecute any infringement of these terms and its copyright. ©Investoraccess Ltd 2002 4 Dean’s Court St. Paul’s Churchyard London EC4V 5AA Tel: +44 (0)20 7778 0055 Fax: +44 (0)20 7778 0065 PEI_Issue6_June02.QXD 29/5/02 8:43 pm Page 28 28 Cover Story : The 50 most influential people in Europe Cover Story The 50 most influential people in Europe Who is shaping the industry? The question is important, because private equity, despite its becoming a more mainstream, institutionalised asset class, fundamentally remains a people’s business. Private Equity International picks the people who make all the difference in European private equity. This is not a ranking. Neither is it a list based on some succession and the prospects of newcomers on the sort of scoring system, designed to support claims to fundraising trail. objectivity. (How could there be such a thing?) It isn’t exhaustive, and there wasn’t enough space to accom- The complexity of the private equity investment process modate all of those who have distinguished themselves in requires any compilation of its key decision makers to European private equity. draw on a broad range of professional types. That is why you will find GPs, fund of funds managers and investors, The people included in these pages have been selected placement agents and gatekeepers, bankers and during a deliberately subjective process. It’s an editor’s lawyers as well as one immensely influential bureaucrat choice, presented here in alphabetical order. on the list. As a result, you may not find all the names you expected, and you may well question the presence of others who Whether each of these groups has been given the you didn’t think have done enough to be included. We do representation it warrants is another point of debate, and expect this list to provoke some debate, and we’re keen some may lament for instance the relative scarcity of to hear your ideas. Who did we leave out? Who should M&A advisers and other such powerbrokers on the list. not be in? The reason is not that we are somehow unaware of the influence that these practitioners typically exert. But we The selection process began months ago by way of an did take the view that in the current climate of caution the in-house editorial meeting which led to a vast amount of spotlight should mainly be on GPs and LPs. It is these conversations with participants in the market place. The two groups that in our view are the main, but not question we asked ourselves and many others was: who exclusive, protagonists in the ongoing - and critical - are the people that are really shaping European private debate that will determine where private equity as an equity, either through contributions made over the course industry and asset class is headed. of their careers, or by being right in the thick of it today? The question is obviously relevant. Private equity, despite Who did we leave out? the progress it is making towards becoming a more Email us with your ideas at: mainstream, institutionalised asset class, fundamentally [email protected] remains a people’s business. Just think of the endless debate surrounding key man clauses, general partner PEI_Issue6_June02.QXD 30/5/02 6:37 pm Page 29 Private Equity International June 2002 29 Kevin Albert Wanching Ang Tom Attwood Kate Bingham Jonathan Blake Merrill Lynch Allianz Private Equity Intermediate Capital Schroder Ventures SJ Berwin (Placement agent) Partners Group Life Sciences (Lawyer) (LP) (GP) (GP) APEP is one of the results Lile APEP’s, this is anoth- Many regard biotechnolo- The private equity of the merging earlier this er one-but-several gy as one of the most practice group at UK year of Allianz and profiles, not least because slippery slopes for venture headquartered law firm SJ Dresdner Bank’s private Tom Attwood would want capitalists, with long Berwin has built an equity activities. Primary his fellow managing investment cycles, low impressive reputation for fund investments, sec- directors at ICG to be probabilities that portfolio fund formation expertise ondary fund activities and credited for being just as companies will come to co-investments all fall instrumental as he in fruition and mixed per- with the unit’s remit and it making this firm what one formance in the past. is headed by Helmut contact described as “the Nevertheless the sector is Although the days of the Wimmer who should take gorilla in the mezzanine still hugely in demand Merrill Lynch placement the credit for developing park.” Founders Tom amongst investors, and in team working on $25bn of the insurance giant’s Bartlam (ex-Charterhouse Europe a number of prac- private equity fund asset management activi- buyout fund), Andrew titioners are leading the raisings in a year are past ties into alternative Jackson (the person who charge to catch up with – that was in the heady made the then Chemical the level of activity in the days of 2000 – it’s a good Bank a force in specialist US. One of them is Kate (it was again voted the reminder of how active a financing in the 80s) and Bingham, who is critical to best firm at this in the group they were then. And Jean-Loup Brousse de 2001 PrivateEquityOnline they still are. Although the Gersigny (who worked poll) as well as transac- fund raising totals are alongside Jackson) tional advice. Credit for naturally smaller, and the should all be acknowl- this should go to a num- staff number has shrunk edged. To many though, ber of members of the too, the Merrills place- Attwood is the public face team, including Josyane ment team, led by Kevin of the firm. Perhaps Gold and Mark Mifsud but Albert, continues to be assets. The person that because of his back- it is the team’s leader, one of the top placement has caught our attention ground at James Capel, Jonathan Blake, whose agents in the business. though is Wanching Ang. where he grew the firm’s name is mentioned most Albert, a seasoned practi- She now leads the team IPO business, Attwood Schroder Ventures’ often. His considerable tioner who joined Merrills that manages the group’s has a particular aware- biotech investment effort. experience - he became a over 20 years ago, makes private equity invest- ness of what it takes to Having joined Schroder partner in 1983 - along a point of working on a ments. She, along with get a deal done. And Ventures in 1991, she was with an unwavering variety of funds himself. Jim Kester, has developed involved three years later appetite for broader pri- So he will be the point a strong reputation for a in setting up the firm’s vate equity policy matters person for something as rigorous investment dedicated life sciences (he is an active EVCA sizeable (and high profile) approach. The team is arm, which today man- committee member as Guy Hands’ Terra also evidencing a marked ages $550m of capital besides conference Firma II targeted at €3bn appetite for the asset and has invested in over speaker) prompts some to or something arguably class, and their commit- 100 businesses. call him Europe’s “Mr more challenging as a first ments deliver a valuable Bingham, who a former Private Equity Law.” Now time or sector specific message to other heay- colleague says is so that the firm is building its fund. And few GPs would weight institutional bright that “you’ll do well office network across argue with the point that, investors in Europe who although there are many to keep up with her,” Europe, with offices if you’ve got Merrills as have been toying with more mezzanine deserves much of the already in Paris, Brussels, your placement agent, their private equity alloca- providers nowadays, credit for turning the firm Madrid, Frankfurt and more people are going to tions. Trail blazer? Maybe ICG’s phone number - into one of Europe’s lead- Munich (where Uwe take your calls. In these not. Benchmark? Very and Attwood’s in particu- ing players in health care Steininger and Tony tougher fund-raising possibly. lar – continues to be the and life science alongside Tulloch are enjoying a times (and when the first on the list for many Sir Chris Evans’ Merlin strong reputation with pri- competition has intensi- financial sponsors and Bioscience, Sofinnova vate equity clients), Blake fied too), expect Albert to their advisers. On the fund Partners, TVM Techno and his private equity be busy making sure his management side, ICG Venture and Index team will be looking to clients succeed. has become a leader in Ventures. extend their market share CDOs. across the continent.>> PEI_Issue6_June02.QXD 30/5/02 6:38 pm Page 30 30 Cover Story : The 50 most influential people in Europe Gordon Bonnyman Wim Borgdorff Chris Brotchie Les Brun Sir Ronald Cohen Charterhouse NIB Capital Baring Private Equity Hamilton Lane Apax Partners (GP) (LP) Partners (Adviser) (GP) (GP) With over €14bn of funds Chris Brotchie has been Les Brun, chairman of Sir Ronald set up his firm under management, NIB CEO of BPEP since 2000 Hamilton Lane, has built in venture capital prehis- Capital Private Equity is but has been instrumental the firm into one of the tory in 1972 and presided one of the largest private in helping shape the firm’s leading investment over its march through the equity investment firms in business and strategy for advisors for institutional industry’s dark ages.
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