17 February 2011
AnaCap Financial Partners (“AnaCap”), the European private equity firm specialising in the financial services sector which has more than €1 billion under management, has appointed Peter Cartwright, as Co-Managing Partner.
Peter joins Joe Giannamore as Co-Managing Partner with immediate effect.
Peter, one of the founding Partners at AnaCap, will continue in his role as Head of the Business Services team at AnaCap. In that capacity Peter leads the firms engagement with its portfolio companies pre and post investment to enhance operational performance and drive strong, sustainable growth.
AnaCap broke new ground in 2009 by being the first private equity firm to acquire a deposit taking bank in the UK. That bank, Aldermore, has rapidly been transformed into a fast growing bank focussed on lending to SMEs and to the residential mortgage market.
Prior to joining AnaCap in April 2006, Peter was Commercial Director at Direct Group, a leading private equity backed insurance services provider having previously held senior roles within GMAC and the UK Consumer Finance division of GE Capital.
Joe Giannamore, Co-Managing Partner of AnaCap, comments: “Peter has over twenty years operational experience across a diverse range of financial service businesses, the kind of hands-on, problem solving experience that is still too rare in the private equity industry.”
“Peter also has invaluable experience of having been on the board of a private equity backed financial services business, which gives him a unique insight into private equity buyouts from the perspective of an investee company. This rare combination of experience has made him a key asset to the firm.”
“His promotion to Co-Managing Partner is a long overdue recognition of the huge contribution he has made to the successful growth of AnaCap and of the success of our portfolio of investments.”
As well as its role in creating Aldermore Bank, AnaCap has had similar success with their acquisition and launch of Mediterranean Bank in Malta – which is already building a very successful position as a wealth management bank.
Both banks have demonstrated significant improvements in their performance, risk management and controls. Aldermore, the new British bank, has reported that overall new lending to all customers, including SME’s, more than quadrupled in Q4 2010 compared to Q2 2010.
About AnaCap Financial Partners LLP
AnaCap is Europe’s largest specialist private equity investment advisor in the financial services sector.
Based in London and investing across Europe, AnaCap advises funds with more than €1 billion under management.
AnaCap’s funds invest in businesses with high growth potential, strong management teams and/or restructuring needs.
AnaCap’s expertise in the financial services sector allows it to undertake a high level of operational engagement with each of its investee companies. AnaCap works with management teams to improve infrastructure and business processes and create low cost scalable platforms. This day-to-day support allows management to pursue growth strategies in the most efficient and effective manner.
AnaCap’s team of professionals also assists investee companies in assessing and reducing key credit and market risks. This expertise in risk and liability management is a key factor in the strong performance of the AnaCap Debt Opportunities Fund which invests in performing and non-performing debt.
The success of AnaCap’s investment strategy and team has attracted investment from highly regarded global institutional investors including Goldman Sachs, Allianz, Morgan Stanley Alternative Investment Partners, Honeywell, State of New Jersey and Adams Street Partners.