Advent International announced that it has selected Susan Gentile as its new CFO and managing director. Gentile will start on October 1 and succeed Eileen Sivolella, who has been Advent’s finance chief since 2009.
Sivolella will stay on in an interim advisory role to support the transition, according to the company. A spokesperson for Advent told Private Funds CFO that Sivolella is retiring.
Advent noted that Gentile has a financial services background spanning almost 20 years. She was most recently chief financial and administrative officer at HIG Capital, which she joined in 2018. Prior to that, she was chief accounting officer and managing director at Oaktree Capital Management, where she worked at for close to five years.
Gentile’s earlier experience includes serving in senior accounting positions at Levi Strauss and the Clorox Company. She also currently serves on the board of the Honest Company, which includes chairing its audit committee.
Boston-based Advent’s C-suite change comes after it closed the world’s second-biggest private equity fund in May – at around $26 billion – affiliate title Private Equity International reported at the time. The mega fund’s close came despite a tough fundraising environment for the industry.