Candover creates two new roles; promotes two

Candover Partners has announced the creation of two new roles, appointing Philip Price as chief operating officer and Kit Tuke as head of debt.

Price was appointed general counsel and company secretary of Candover Investments in February last year. In addition to his existing legal and compliance responsibilities, including managing Candover's relationships with its law firms, Price will now assume responsiblity for Candover's operating infrastructure including risk, HR and IT. Prior to joining Candover, he held senior roles at UBS Investment Bank and Dresdner Kleinwort Wasserstein.

Tuke joined Candover in 2007, having previously worked for Barclays and 3i. In his new role as head of debt, Tuke will be responsible for sourcing and structuring the debt financing in investee companies and new transactions, as well as managing relationships with lenders. He led the recent capital restructuring at Hilding Anders, and completed the $1.4bn high yield bond for Expro. 

Seperately, in January, the firm formally confirmed the termination of the investment period of its 2008 fund, which had been seeking to raise €5bn and had held a first close on close to €3bn in late 2008. The only investment in the fund is now the €2.6bn buyout of oil services buisness Expro. The vehicle also retains a €100m follow-on reserve.