CVC boosts female partner ranks with JP Morgan hire

Cathrin Petty was previously head of healthcare for Europe, the Middle East and Africa at JP Morgan. Before that, she was a special partner at private equity firm Vitruvian Partners from 2010 to 2013 and a partner in Apax’s healthcare and life sciences team from 2000 to 2010. Petty was named a Financial News Rising Star in Private Equity in 2007.

Petty’s roster of past deals, according to a CVC statement on July 14 announcing her hire, includes the listing of Spire Hospitals in 2014, the sale of life sciences company LGC to KKR and the sale of medical technology company Atos Medical to PAI Partners.

Petty, who will be based in London, will be the only female partner at CVC’s buyout arm, CVC Capital Partners, which has 29 partners listed on its website.

The firm’s debt arm, CVC Credit Partners, currently lists one woman, Gretchen Bergstresser, on its seven-strong partner team. CVC first approached Petty about joining in 2011, according to a person familiar with the matter.

The private equity industry has struggled to recruit and retain women in senior roles. Women make up just 5% of senior roles at European private equity firms, according to campaign group Level 20, which was set up by a group of senior women in 2015 to boost the senior ranks of women in the industry. The group wants women to make up 20% of all senior roles by 2020.

CVC Capital Partners is currently involved in a gender discrimination case in the US Lisa Lee, a former managing director of CVC’s investor relations group in New York. CVC denies the claims.

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