Vincent P. Fandozzi was named managing director and head of Ardian North America direct buyouts at alternatives manager Ardian, spokeswoman Emma Murphy said.
It is a new position. Mr. Fandozzi, formerly founder and managing partner at Seven Mile Capital Partners, will lead the new North American direct middle-market buyout team at Ardian, which is absorbing the entire seven-person team from Seven Mile Capital Partners, including Kevin J. Kruse, partner at Seven Mile and will be a managing director at Ardian.
“Ardian has long dominated the secondaries space in North America, and its expansion into direct middle-market activities is a natural extension of its capabilities, especially given that many of our relationships are based in the North American market,” said Benoit Verbrugghe, head of Ardian USA, in a news release.
Ms. Murphy could not immediately provide further information and Mr. Fandozzi could not be immediately reached.
Ardian has about $60 billion in assets under management. Seven Mile’s AUM could not be learned by press time.