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Macquarie Capital hires former Veolia exec

Frédéric Devos, who joins from CVC’s infrastructure unit, will head the firm’s portfolio management business.

Macquarie Capital, the corporate advisory division of Macquarie Group, has appointed Frédéric Devos as global head of portfolio management.

Devos joins from UK private equity firm CVC Capital Partners, where he was an industrial partner within the company’s infrastructure business. He will be based in London and report to global head of principal transactions Alex Harvey.

Prior to CVC, Devos worked 20 years for French utility Veolia, ultimately becoming chief executive of Veolia Water UK, Ireland and Northern Europe from 2007 to 2012.

In his newly created role, he will be responsible for managing a portfolio of on-balance sheet investments across a number of markets and sectors. He will also work alongside Daniel Wong, head of Macquarie Capital Europe, to originate partnership investment opportunities across European utilities, contractors and services companies.

Devos joins Macquarie a few months after Stephen Vineburg, CVC’s head of infrastructure, left the London-based buyout firm. CVC, which gave up raising a €2 billion fund in 2013, then decided to wind down its infrastructure unit.