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HBG Holdings appoints head of new London office

25 Jun 2009

HBG Holdings, a private equity investor and fund manager focusing on the Middle East, has appointed an executive director responsible for establishing the firm’s new London office.

Michael Toxvaerd, former CEO of AIM-listed acquisition company Neutrahealth, will head HBG’s investment activities in London, while also working with the private equity and principal investment teams in the Gulf. The new office will be fully integrated with the existing units in Dubai and Jeddah.

During his time at alternative healthcare-focused Neutrahealth, Toxvaerd led the firm through acquisitions and also negotiated the investment in Neutrahealth by Mumbai-based pharmaceuticals group Elder Pharma.

HBG Group’s managing director, Zulfi Hydari, said, “We are delighted to welcome Michael to HBG’s senior management team. His extensive experience of running an AIM-listed company is already proving to be invaluable as we engage with the management teams of various target companies. I am confident that his first-hand experience of issues that senior management of AIM companies face will be indispensable in reaching equitable deals.”

HBG Holdings, established in 2004, specialises in investing capital from the Gulf and Saudi Arabia in private businesses with growth potential in the MENASA region.

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