Montana Capital Partners has tapped the former chief executive of Adveq to become its COO as it sets about deploying its fourth secondaries fund, Secondaries Investor has learnt.
Sven Lidén started the newly created role at the Swiss secondaries firm in May, according to a source familiar with the matter.
Lidén officially stood down as head of Adveq in February, according to his LinkedIn profile. The Swiss private equity firm was acquired by asset manager Schroders in September last year and in January, former global head of private equity at Robeco, Reto Schwager, replaced Lidén as head of the newly combined entity, Schroder Adveq.
Adveq’s assets under management doubled to $8 billion during Lidén’s time at the firm.
Prior to that, Lidén held several senior positions at asset manager MAN Group, including head of product strategy and businesses development, and was also responsible for building reinsurance company Swiss Re’s operations in Central and Eastern Europe.
Montana hit an €800 million final close in April for mcp Opportunity Secondary Program IV, double the amount raised for its predecessor, as Secondaries Investor reported. The fund had been in the market for five months.
Baar, Switzerland-headquartered Montana was founded in 2011 by two former Capital Dynamics executives, Marco Wulff and Christian Diller. The firm focuses on small and complex secondaries transactions with an emphasis on proprietary deals.
Montana declined to comment on Lidén’s appointment.