Aug. 30 (Bloomberg) -- Cinven Partners LLP, the largest private-equity firm dedicated to investing solely in Europe, said Rebecca Gibson, a partner in the consumer team, has left.
Gibson departed for personal reasons, said Vanessa Maydon, a spokeswoman for the London-based firm. She joined Cinven from Bain & Co. in 2002 and was promoted to partner seven years later, working on takeovers such as U.K. hospital group Spire Healthcare Ltd. and betting chain Gala Coral Group Ltd.
“Rebecca has made a significant contribution during her 11 years,” Maydon said. “She leaves with our very best wishes.”
Cinven earlier this month teamed up with reinsurance group Hannover Re to purchase German life insurer Heidelberger Lebensversicherung AG for about 300 million euros ($397 million) from Lloyds Banking Group Plc. In June, it raised 5.3 billion euros for its fifth buyout fund, the largest pool dedicated to investing in European companies, 300 million euros more than its initial target.
Private-equity firms typically pool money from pension plans and endowments with a mandate to buy companies within five to six years, then sell them and return the money and a profit after 10 years. The firms usually charge a management fee of as much as 2 percent and keep 20 percent of the profits from investments.
To contact the reporter on this story: Kiel Porter in London at email@example.com
To contact the editor responsible for this story: Edward Evans at firstname.lastname@example.org