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European buy-out firm Candover appoints investor relations director

Pan-European buy-out firm Candover has appointed Piers Dennison as its new investor relations director.

He will be responsible for co-ordinating the firm's fundraising activities and managing relationships with existing investors.

Colin Buffin, managing director of Candover, said the appointment of a dedicated investor relations professional for the first time reflected the growing need for private equity firms to be more sensitive to investor demands.

‘The increasing recognition of private equity as an asset class among institutional investors in Europe and the US, combined with a move towards greater levels of disclosure on the performance of private equity funds, means a focused investor relations strategy will be essential to the success of our business going forward,' he said.

Dennison had been working most recently at Boston Consulting Group, before which he had worked in investment banking.

Candover raised an E2.7bn fund in 2001 and is not expected to return to the market for at least another 12 months.

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