- Date:
- 23 April 2008
- Company:
- CVC Capital Partners
- Title:
- CVC Appoints Lorne Somerville as New Head of Telecoms
CVC Appoints Lorne Somerville as New Head of Telecoms
CVC Capital Partners (“CVC”), a leading global private equity firm, is pleased to announce the appointment of Lorne Somerville as its new Head of Telecoms (“TMT”), effective June 2008. Lorne will join as Partner based in CVC’s London office and will lead CVC’s TMT practice across the firm’s network.
Prior to this appointment, Lorne was Joint Global Head of Telecoms and Head of European Communications Group at UBS. For seven years he led the Investment Banking Telecoms team responsible for coverage of telecommunications and media companies in EMEA and consistently ranked as the leading team across the region . Previous to UBS, Lorne worked at Swisscom AG as Head of Swisscom International. He has held several board positions in the industry including Cesky Telecom a/s and Unisource NV.
Commenting on the appointment, Michael Smith, Chairman CVC said:
“We are delighted that Lorne, with his extensive expertise and outstanding network in the telecoms sector, is joining us to lead CVC’s TMT practice.”
Note to Editors
About CVC Capital Partners
CVC Capital Partners ("CVC") is a leading global private equity and investment advisory firm founded in 1981, with a network of 18 Offices and 177 employees throughout Europe, Asia and the United States. CVC is currently investing from CVC Fund IV, CVC Asia II, CVC Tandem Fund and CVC Asia III with an aggregate of $19bn in equity capital. The CVC team’s local knowledge and extensive contacts underpin a 26-year proven track record of investment success. CVC has the ability to bring an enormous amount of cross-border resource together quickly to focus on winning transactions. The current European portfolio totals 39 investments and includes: Formula One, the world's leading motorsport rights management business; AA/Saga, a leading affinity brand business; Cortefiel, one of the largest specialized clothing retailers in Spain; National postal operators Post Danmark and De Post-La Poste; and Seat Pagine Gialle, the leading directories business in Italy. The current Asian portfolio totals 15 investments and includes PBL Media, Australia's largest diversified media group (including Channel Nine and NineMSN) and Zhuhai Zhongfu, the largest beverage packaging manufacturer in China.
For further information, please contact:
CVC Capital Partners
Claire Ellis, Marketing & Communications Manager
+ 44 20 7420 4200
Brunswick Group LLP
James Olley/Leonora Pou
+ 44 20 7404 5959