Damon Buffini Named as UK Head of Schroder Ventures

Schroder Ventures has appointed Damon Buffini as managing partner of its UK business to succeed Peter Smitham, who is stepping down after five years in the role to concentrate on his role as chairman of Schroder Ventures Europe.

A Cambridge law graduate and Harvard MBA, Damon Buffini worked for LEK Partnership and Imperial Group before joining Schroder Ventures in 1998. The firm appointed him as a partner three years later. Widely respected throughout the private equity industry for his transaction skills, Damon Buffini has played a key role in numerous major buyouts for Schroder, including Sirona Dental Systems, Leica Microsystems, Rank Precision Industries, Strand Lighting and Courtaulds Packaging.

In the 18 months before Damon Buffini took the helm, Schroder Ventures completed deals with an aggregate value of GBP1.4 billion, more than the combined total for the three previous years.

The firm, which currently has $3.5 billion under management, in 1997 closed Schroder European Venture Fund, Europe’s first billion-dollar buyout fund, and it expects to launch a much larger successor fund during 2000. Meanwhile, the second Schroder Venture International Life Sciences Fund recently held a $127 million first closing and, reflecting the current trend towards globalisation, the firm later this year plans to launch a US buyout fund designed to increase its transatlantic market penetration outside the life sciences sector.

Other recent personnel changes at Schroder Ventures include the promotions of Guy Davies and Charlie Troup, who become investment directors. Guy Davies, a member of the healthcare team, joined the firm in 1994, followed

a year later by Charlie Troup, who works in the technology team.

Partner Diana Noble recently left Schroder after ten years with the firm to study at Harvard.