Lloyds Bank Corporate Markets Acquisition Finance, a provider of leveraged debt to support private equity-backed transactions, has promoted former Head of European Origination, Ian Brown, to lead the division.
Having joined Lloyds Bank Corporate Markets Acquisition Finance as a Managing Director in 2006 following 13 years at UBS, Brown established a market leading private equity related debt underwriting business, increasing the bank’s support to the larger private equity funds operating across Western Europe.
The team has undergone significant growth in recent years and has been instrumental in structuring some of the most successful sponsor-backed financings in Europe, including BC Partners’ acquisition of Phones4u Group and CVC Capital Partners’ buyout of Raet.
Brown also led the formation of the lender’s continental European offices, which include bases in Paris, Frankfurt, Madrid and Amsterdam, to further its support for private equity in these key financial centres.
In his new role, Brown will be responsible for further developing the bank’s Acquisition Finance business throughout the UK and Europe, co-ordinating teams in London, mainland Europe and the UK regions in providing well-structured senior debt facilities and high yield bonds to fund private equity-backed acquisitions.
“While private equity activity in the UK and Europe has been stifled by macro-economic pressures during 2011, our highly skilled origination and structuring teams, relationship-based approach and focus on credit quality have allowed us to remain at the forefront of leveraged debt provision in the UK and on the continent,” Brown says. “Despite continuing uncertainty surrounding syndication, pricing and the status of the high yield bond market, we are working on a number of opportunities for primary, secondary and tertiary buyouts in 2012.
“I am privileged to be leading a very able and successful team, which will continue to work closely with our private equity and corporate clients to enable them to realise value and growth.”
