PRINT THIS PAGE Apax’s Fitzgerald to join Carlyle European venture team12/01/2004. Source: AltAssets. 
 The Carlyle Group has recruited David Fitzgerald as managing director and co-head of its European venture team. Fitzgerald joins the firm from Apax, where he was a partner focusing on later stage deals in European technology companies.
Fitzgerald’s appointment is in line with a shift in Carlyle’s venture approach. The firm is moving away from early-stage start-up investments and is to focus more on later stage revenue-generating investments of between E15m and E30m.
‘David’s experience in larger deals, and deep industry knowledge will be a great asset to drive the team forward,’ said Wolfgang Hanrieder, who will co-lead the venture team alongside Fitzgerald. ‘We are focusing on mid-market, later-stage investments with lower risk profiles to achieve a balanced portfolio of early and late-stage companies.’
‘The Carlyle Group has an impressive team and track record and a strong commitment to Europe,’ said Fitzgerald. ‘The venture team has a great pipeline of potential new deals, and I am looking forward to developing the European venture portfolio with new investments alongside Wolfgang Hanrieder.’
Carlyle’s European venture fund, like many others, suffered badly from the collapse of technology markets. The firm lost some key personnel and scaled back the size of the fund but remains confident it will at least manage to return investors’ their original stake.
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