Ares appoints new head of European private equity

The firm has said it sees a significant opportunity for expansion of its private equity business in Europe

Ares Management Corporation has hired Stephane Etroy from Caisse de dépôt et placement du Québec as head of European private equity.

Etroy will join the firm on February 6 and will be based in London. He will lead Ares’ European private equity operations and serve as a member of the group’s corporate opportunities investment committee.

He was previously executive vice president and head of private equity at Canadian pension scheme Caisse de dépôt et placement du Québec, which has more than C$325bn of net assets. There, Etroy sat on the firm’s executive and investment risk committees.

David Kaplan, Ares co-Founder and co-chairman of the private equity group, said: “We see a significant opportunity for expansion of our private equity franchise in Europe and we believe Stephane is perfectly suited to collaborate with our existing, leading businesses in the region and execute upon our growth plans.”

Ares, based in Los Angeles, is targeting $9.25bn for its sixth corporate private equity fund, according to WSJ Pro. The fund’s predecessor, Corporate Opportunities V, closed in April 2016 at $7.85bn. According to its website, current portfolio companies in Europe include London Square, a residential homebuilder, and Farrows & Ball, a manufacturer of premium paints and wallpaper.

Source: Financial News

Can’t stop reading? Read more