Metric Capital Partners To Provide Debt Capital to Euro Mid-Caps

May 9 2011 | 8:55am ET

Metric Capital Partners, a new UK-based fund manager, will provide debt-capital solutions to European mid-cap companies.

Former Deloitte global chairman and UK head John Connolly will serve as chairman of the new firm, formed “to respond to the ongoing dislocation in the credit supply to medium-sized enterprises throughout Europe." He will work with Metric Managing Partner John Sinik, previously global head of corporate credit at UBS and managing director at TowerBrook Capital Partners.

Peter Cornell, former CEO of Clifford Chance and managing director at Terra Firma, will be a Metric partner and head of investor relations. Giovanni Miele, formerly of UBS and Barclays Capital, will serve as partner and head of origination.

David Scheurl, formerly of Deutsche Bank and MatlinPatterson, and Ilkka Rantanen, formerly of UBS and Amanda Capital, will both be Metric principals.

Metric Capital will provide capital solutions to companies with enterprise value between EUR 50 million and 500 million. These will include buyouts, growth and acquisition capital, liquidity facilities and rescue financing. Metric Capital also plans to build its asset base by buying existing loans “where lenders are fatigued, forced sellers or simply looking to downsize exposure to particular borrowers.”

Sinik says that, based on “initial soundings,” investors “are supportive of our deep due diligence approach to providing credit—in contrast to a trading mentality. The assembled team brings to the table a highly complementary set of skills, relationships and experiences, having collectively committed over EUR 100 billion in capital to European companies throughout their careers.”


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