Former Apax dealmakers launch private equity firm

Averna Capital was set up by Stephen Green, Richard Tudor and Pierre-Edouard Harant

Two former Apax Partners dealmakers have teamed up to launch a new private equity firm targeting European businesses.

Averna Capital was set up by Stephen Green, Richard Tudor and Pierre-Edouard Harant.

Green previously spent 11 years with Apax Partners where he worked with Tudor. There, he ran the leverage transactions group and founded the financial and business services industry team. He joined rival Bridgepoint in 2009 as a partner and head of its European financial services team.

Leaving the UK buyout group in 2017, Green then joined foreign exchange specialist Moneycorp and led three acquisitions for the business: Novo Mundo, Commonwealth and First Rate FX. He continues to serve as chairman of Moneycorp.

After a seven year term with Apax as a principal, Tudor joined Exponent Private Equity as a senior partner. Since 2015 he has been an investor at 24 Haymarket, including serving as an investor director at RPD International. There, Tudor has worked with Harant for the past four years.

Harant was managing director of RPD International. He previously also worked at Macquarie Capital and Ancala Partners after starting his career at Credit Agricole Cacib in New York.

The team is targeting equity investments of between €40m and €50m and deals with an enterprise value between €75m and €175m and up to €250m, according to Averna Capital’s website.

They will look to make growth investments and back management buyouts in the financial services, fintech, business services, industrials and transport services sectors. The trio currently is not fundraising and declined to give any further details on the business.

Source: Financial News

Can’t stop reading? Read more