Advent International announces partnership with Paolo Cantarella

Advent International, the global private equity firm, has announced that Paolo Cantarella has joined the firm's operating partner programme with a particular focus on investment opportunities in the industrial sector.

Before joining Advent, Cantarella held the roles of chief executive of Fiat from 1996 to 2002, of Fiat Auto from 1990 to 1996 and of COMAU from 1983 to 1988.

He was president of the European Automobile Manufacturers Association in 2000 and 2001 and has been director of Polaroid Holding since July 2003.

Cantarella is currently a non-executive director on the boards of Iride and Inpartner (Investitori & Partner Immobiliari).

His previous directorships include the Organizing Committee of the Olympic 2006 Winter Games in Turin.

Advent's operating partner programme involves experienced industrialists working with the firm in a variety of ways: sourcing investment opportunities; assisting with the due diligence process and advising on the strategic and operational development of portfolio companies.

Conor Boden, head of portfolio board development at Advent, says: 'Our strong operational model will be increasingly relevant in these challenging market conditions and our operating partner network plays a key role in the successful application of this operational approach. Paolo is a very well respected Italian industrialist whose extensive global experience in the industrial sector will be invaluable to Advent's investment strategy both in Europe and across our international network. We are delighted to have him on board.'

Cantarella adds: 'I look forward to combining our respective industry experience as we work together to identify potential investment opportunities in the industrial sector and enable those companies to reach the next stage of their development.'

Advent International was founded in 1984 and has offices in 15 countries on four continents.

Since inception, it has raised USD24bn in private equity capital and through its buyout programmes has completed more than 250 transactions valued at over USD40bn in 40 countries.