Fundraising

Advent Private Capital appoints investment manager

Advent Private Capital, an Australian private equity firm has hired an investment manager to add to a 5-strong investment team after the mid-market specialist closed a fifth fund on A$300 million late last year.

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Advent Private Capital, a mid-market private equity manager based in Melbourne, has hired Symon Vegter as an investment manager. The appointment brings the total number of investment professionals to six, and the firm’s total headcount to ten, according to an Advent spokesman.

Vegter joined Advent from accountants KPMG, where he most recently worked in the firm’s mergers and acquisitions division advising private equity firms on a range of transactions.

The latest appointment follows the final close of Advent’s fifth fund on A$300 million ($258 million; €189 million) late last year.

In November 2006, it backed an A$109 million management buyout of Locker Group, a manufacturer of  metal products used in general industrial, architectural building, commercial construction infrastructure and resources sectors. Locker has operations in Australia, New Zealand and Asia.