Manish Mittal has become chief financial officer for central and eastern Europe-focused Mid Europa Partners, taking on a role that managing partner Thierry Baudon has had to cover for almost three years.
“We have lived without a CFO for quite a while, probably a mistake on our part because a lot of the burden fell on me,” said Baudon, in an interview with PE Manager.
“Having Manish here will allow me to spend more time on the investment committee, investment selection, exits and fundraising next year,” he added.
Formerly the finance director of private equity peer Kennet Partners, Mittal will also double as the firm's compliance chief. Again, these responsibilities had previously fallen to one of MEP's deal-focused partners prior to Mittal's arrival.
“[Hiring Mittal] is important because it will mean more focus on [compliance] matters. It’s easier if people have a very clear focus and delineated functions. It’s certainly the more satisfactory way to handle those complex tasks,” said Baudon.
Mittal will also be helping out with the accounts and with investor reporting. According to Baudon, this is just a natural extension of his finance function.
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