Former Advent execs launch BD-Capital

The GP was co-founded by Andy Dawson (former Advent investment partner) and Richard Baker (former FTSE CEO). They will be supported by ex-Advent managing director Ron Sheldon, who joins the investment advisory committee.

Placement agent Houlihan Lokey Private Funds Group (PFG) is advising the launch, while Weil Gotshal & Manges is providing legal advice.

The firm is understood to be in talks with LPs to raise its debut fund, but declined to comment on this beyond confirming it was working with Houlihan Lokey PFG.

BD-Capital will target the consumer products, modern retail, leisure, services and health & wellbeing segments of the European mid-market. It will write equity tickets of €25-150m.

Alongside the investment team, BD-Capital has hired three operating partners, Ronald van der Vis (former CEO of Esprit Holdings and GrandVision), David Johnston (formerly of Pepsico and Aima) and Francesc Casabella (formerly of GLG and Third Bridge Group).

The firm said in a statement that it will use an evolution of the PE operating partner model.

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