UK turnaround investor Rutland Partners has appointed a new investment manager, hiring Rahul Satsangi from one of the so-called big four auditors, PricewaterhouseCoopers.
Satsangi qualified as a chartered accountant with PwC in 2005 and subsequently worked in their corporate finance division for five years. During this time, he worked on a variety of buy-side and sell-side transactions in the consumer, financial services and TMT sectors.
The hire brings Rutland’s investment team to 12 and bolsters the private equity firm’s focus on backing underperforming UK companies and turning them around.
The fund manager’s last play was the £52.2m (€62.8m) acquisition of household disposables manufacturer CeDo group from German holding company Delton in September last year.
To date, Rutland has raised £532m (€640.7m) in committed capital across two funds: the £210m (€252.8m) Rutland Fund I and £322m (€387.7m) Rutland Fund II.
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