Investment teams


Wendel has approx a hundred employees, who all work together to support Wendel’s long-term investment activity. The 30-strong investment team is supported by General Secretariat and the Finance, Legal, Tax, Communications & Sustainable Development and Operational Resources departments.


Stéphane Bacquaert
Stéphane Bacquaert
Managing Director and CEO of Wendel Africa

Stephane Bacquaert is Managing Director with Wendel, and CEO of Wendel Africa. Stephane joined Wendel in 2005. He is a member of the group Investment Committee, and currently serves on the boards of Bureau Veritas, IHS Holding, PlaYce and Tsebo Solutions Group.

He was previously a Partner at Atlas Venture, an international venture capital fund with $2.5Bn under management, where he specialized in new technologies, media and telecoms.

He began his career at Bain & Company, a leading strategy consulting firm, where he conducted studies in the telecom, banking and private equity industry in Europe and Central America. He then co-founded and led NetsCapital, an investment bank specialized in TMT.

Stephane graduated from the Ecole Centrale Paris and the Institut d’Etudes Politiques Paris, and holds an MBA from the Harvard Business School (Baker Scholar).

Stéphanie Besnier
Stéphanie Besnier
Managing Director

Stéphanie Besnier is a Managing Director based in Paris. She has played a role in several Wendel investments, including Deutsch, IHS and Constantia Flexibles.

Stéphanie participates in the search for investment opportunities, especially in France. She began her career in the Treasury department of the Ministry of Finance, then worked at the Agence des participations de l’État, the agency that manages the French government’s shareholdings, where she was in charge of the government’s investments in SNCF and SNCM and of the Eurotunnel restructuring. She is a graduate of Polytechnique, Corps des Ponts et Chaussées, and the Paris School of Economics.

Board member of Bureau Veritas and member of the audit committee.


David Darmon
David Darmon
Managing Director and CEO of Wendel North America

David Darmon began his career at Goldman Sachs in London and the United States in the M&A team. He then went to work at Apax Partners, a world leader in private equity, as a Director, where he specialized for 7 years in LBOs and growth capital, in particular in the sectors of TMT and retail. 

While at Apax Partners, David served on the board of directors or was part of the team which invested in Alain Afflelou, Vivendi medical publishing assets, Vivendi B2B media assets, BFM radio, Heytens retail stores, Mondial Tissus, Arkadin, and Newsfam. David structured, monitored and sold Wendel’s successful investments in Deutsch and Stallergenes. David Darmon graduated from Essec and has an MBA from Insead. David Darmon is Wendel North America CEO since 2013. Member of the Investment Committee.

Board member of Allied Universal and CSP Technologies.  

Claude Ehlinger
Managing Director and CEO of Oranje-Nassau Groep
Claude Ehlinger joined Wendel in 2016 as Managing Director, Member of the Investment Committee and CEO of Oranje-Nassau Groep. Claude is based between London and Amsterdam and pursues investment opportunities throughout Western Europe, particularly in the Benelux. He serves as Board Member of various Group companies including Trief and Winvest Conseil.

Claude Ehlinger was previously deputy CEO of Louis Dreyfus Company. He has been appointed interim CEO of Louis Dreyfus from June 2014 to October 2015.
He joined Louis Dreyfus Company in 2007 as Chief Financial Officer after serving three years as Group CFO at Eutelsat. Prior to this he was Regional Controller of Cap Gemini, Group CFO of CCMX (1999-2003) and Managing Director of Finacor (1987-1999), a large brokerage company in Europe. He began his career in 1985 at Thomson Group. He is a graduate of the French business school HEC.

Board member of Bureau Veritas. 

Bruno Fritsch
Managing Director – CEO Wendel Singapore

Bruno Fritsch is Managing Director with Wendel and leads the activities of the Group in Asia as CEO of Wendel Singapore.

In 2007, Bruno joined the investment team of Wendel in Paris as Senior Associate. Since 2013, he has been based in Singapore where he is in charge of M&A and business development support to the Group’s companies, cross-border co-investments, as well as investment origination and execution in Asia. 

He has been involved in several transactions including Helikos, Stahl and Nippon Oil Pump. He currently sits on the Board of Nippon Oil Pump and has been a member of the Board of Stahl. From 2009 to 2013, he was the Secretary of the Executive Board of Wendel.

Bruno began his career at Bain & Company in the Private Equity and TMT practices in Paris, London and Brussels. He then joined the China-centric business accelerator Asian Business Bridge as Vice President in Hong Kong and Shanghai, where he raised funds and developed the Asian operations of several European SMEs.

Bruno graduated from ESSEC Business School and holds an MBA from the Rotterdam Erasmus School of Economics.

Board member of Nippon Oil Pump. 

Stéphane Heuzé
Stéphane Heuzé
Managing Director

Stéphane Heuzé, who joined our Casablanca office (covering Africa) in September 2014. He began his career with BCG (The Boston Consulting Group) in Paris. 

He then spent two years with Goldman Sachs in London, within the team responsible for managing the firm’s equity, mezzanine and secondary debt funds. In 2009, Stéphane Heuzé returned to BCG as a founding member of the Casablanca office, covering Africa.

He graduated from Ecole des Mines de Paris and holds an MBA from Harvard Business School.

Board member of IHS, Tsebo and PlaYce. 

Makoto Kawada
Makoto Kawada
Managing Director, in charge of the international development and CEO of Wendel Japan

Makoto Kawada was previously the President and CEO of Basic Capital Management (Mizuho Financial Group’s fund management company), where he successfully managed a turnaround/distressed fund. 

He had begun his career at Fuji Bank, initially in cross border M&A in Tokyo and subsequently in project finance in Tokyo and in London.

Makoto Kawada also held positions at the International Finance Corporation, the private sector arm of the World Bank Group in Washington DC, where he worked initially in Syndications and subsequently as Investment Officer in the Oil, Gas & Mining department. He returned eventually to Mizuho Securities in Tokyo, where he had been involved in turnaround and private equity fund businesses.

Makoto Kawada graduated in Economics from Waseda University and obtained an MBA from the Wharton School, as well as an MA from the School of Arts & Sciences of the University of Pennsylvania in 1989.

Board member of Nippon Oil Pump. 

Roland Lienau
Roland Lienau
Managing Director

Roland Lienau is Managing Director and member of the Investment Committee. He is a German citizen who graduated from ESCP-EAP European School of Management. 

He was in charge of financing and structuring operations in capital markets in London and Frankfurt. He is well versed in European equity markets. He began his career in 1988 at Enskilda Securities (Wallenberg Group) in London and Enskilda Effekten in Frankfurt where he set up and developed the equities department for the German market. 

Roland Lienau then worked for Paribas from 1994 to 1999 where he was in charge of capital markets operations and the development of Paribas's investment activities in Germany.

In 1999, he moved to Deutsche Bank where, as Managing Director, he managed equity market investments up to 2004, when he was put in charge of all financing and structuring operations in the German markets. Member of the Operations Committee.

Board member of Constantia Flexibles. 

Adam Reinmann
Adam Reinmann
Managing Director

Adam Reinmann joined Wendel in 2013 as a founding member of its New York office.


Adam previously worked for Onex, a leading Canadian investment firm, where he was leading origination and due diligence efforts in the chemicals and specialty materials industries and has worked on several private equity transactions, including the acquisitions of The Warranty Group, Skilled Healthcare, Cypress Insurance Group, RSI Home Products and JELD-WEN Holding, inc.

During 2009, Adam served as a member of the executive management team at Celestica, Inc., where he was actively involved in developing Celestica`s growth and operational improvement strategy.

Before joining Onex, Adam was with JPMorgan’s Leveraged Finance Group for eight years, where he led financings for financial sponsors and corporate clients, principally in the chemical and healthcare industries. He holds an MBA from Columbia Business School and a BS from Binghamton University.

Board member of CSP Technologies and Allied Universal.

Josselin de Roquemaurel
Managing Director
Josselin de Roquemaurel is joining Wendel's European Investment team as a Managing Director in 2018. He started his carreer in 2001 at JPMorgan in London as an Analyst and then as an Associate. He then joined KKR in London where he worked between 2005 and 2017, most recently as a Director responsible for PE activities in France. 
He is a graduate of Ecole Normale Supérieure in Fontenay / Saint-Cloud and HEC.
Patrick Tanguy
Patrick Tanguy
Managing Director

Having graduated from HEC in 1983, Patrick Tanguy began his career at Bain & Co. in 1984, where he was made partner in 1990. In 1991, he joins Strafor-Facom, where he is successively nominated as Director of Sales and Markeing of Steelcase Strafor and subsequently CEO of Airborne. 

He becomes CEO of DAFSA in 1993 and then President in 1996. Having acted as President of the “Courrier-Express” division of the Hays Group in France for a year, Patrick Tanguy assumes the Presidency of the Technal group in Toulouse from 1999 to 2004.

Before joining Wendel in 2007, Patrick acts first as President of the Monné-Decroix company in Toulouse and then of the Prezioso Technilor in Lyon. Patrick joined Wendel as Managing Director in September 2007 and is a member of both the Investment and the Management Committees.

Board member of Constantia Flexibles, Cromology, CSP Technologies, Mecatherm and Nippon Oil Pump. 

Félicie Thion de La Chaume
Félicie Thion de la Chaume
Managing Director

Félicie Thion de la Chaume is a Managing Director based in London, member of the Investment committee and in charge of Wendel’s London office. 

Félicie graduated from ESCP Europe in 2003 and started her career at Goldman Sachs on the firm's French M&A team between 2003 to 2006. In 2007, she then joined the Wendel Paris investment team as an Associate. 
Since then, she has been involved in several transactions including Deutsch, Helikos, Saham and Stahl. 
Félicie relocated to the United Kingdom in 2016 to contribute to the opening of the London office, and to focus on investments opportunities in Europe. 

Board member of Stahl. 

Mel Immergut
Senior Advisor
Mel is Senior Advisor in our New York office. 

Before joining Wendel in 2013, Mel served as the Chairman of Milbank, Tweed, Hadley & McCloy LLP for 18 years and was a partner in the law firm’s Corporate Department. He serves as Vice Chair of the Legal Aid Society and on the Columbia Law School Dean's Council and the Columbia Law School Board of Visitors. Mel also serves as executive advisor to venture capital firm Marker LLC and is a member of the Council on Foreign Relations. He is also a member of the United States European Command Advisory Panel and a former member of the United States Southern Command Advisory Panel. Mel is Vice Chairman of the Intrepid Sea, Air & Space Museum and served on the Defense Business Board of the United States Department of Defense. He is a recipient of The Jewish Theological Seminary Simon H. Rifkind Award, the Legal Aid Society's Servant of Justice Award and the Fund for Modern Courts John J. McCloy Memorial Award. Mel received his BA from the University of Pennsylvania and his JD and MBA from Columbia University.

Board of CSP Technologies and Allied Universal.

Lodewijk de Vink
Senior advisor
Lodewijk de Vink joined Wendel North America in 2016 as Senior Advisor. Mr. de Vink will bring his expertise to Wendel's investment and advisory teams on healthcare transactions globally and will assist Wendel with its development plans in North America.
Lodewijk de Vink spent his entire career in the health care industry, including long tenures with Schering Plough and Warner Lambert, from which he retired in 2000 as Chairman, President and CEO. Mr. de Vink has since served as Chairman of International Health Care Partners since 2000, and as a Founding Partner of Blackstone Health Care Partners from April 2003 to August 2015. Mr. de Vink is a graduate of Nijenrode School of Business, Washburn University and American University.
Ted Margono
Senior Advisor
Ted Margono joined the Wendel Singapore office as Senior Advisor in 2016. He is based in Jakarta.

Ted Margono started his career with Asia Pulp and Paper (APP) in 1997 where he held several positions including a production planning role in Indonesia and China, a sales and marketing managerial role for the African market, as well as a business development role in Australia. From 2001 to 2003, he was in charge of the M&A division of Deloitte Indonesia. From 2003 to 2016, he led the corporate banking and subsequently investment banking activities of HSBC Indonesia where he has completed numerous transactions in a large array of sectors including retail and consumer goods, industrials, telecommunications, business services and agriculture. 
Ted Margono is a graduate of Trisakti University (Jakarta) and Monash University (Melbourne).

Claude Kamga
Claude Kamga
Claude Kamga joined Wendel in 2016. He was previously an investment professional with KKR & Co. in London, where for three years he was involved in a number of private equity, special situations and public markets transactions, in both Europe and Africa.

He began his career in 2006 as an investment banker with Credit Suisse First Boston in London, where he advised corporations and financial sponsors on mergers, acquisitions, divestitures, takeover defences and restructurings. Claude holds a BCom in Economics & Finance from McGill University (First Class, Joint Honours) and an MBA from Harvard Business School.

Board member of Tsebo.

Seif Khoufi
Seif Khoufi
Seif Khoufi joined Wendel in 2016. He holds an MSc in General Management from Ecole Centrale Paris and an MSc in Electrical Engineering from Technische Universitaet Muenchen.
He started his career in 2007 with Boston Consulting Group in Munich where he worked for 3 years. In 2012 Seif completed an MBA at Harvard Business School and joined Montagu Private Equity in London. Most recently he worked at XIO Group in London as a Director. Seif worked on numerous transactions in various sectors including telecommunications, business services, technology, financial services and industrials across Europe. 
Harper Mates
Harper Mates
Before joining the New York office as a Principal in 2015, Harper Mates was a Vice President at MidOcean Partners, an operationally focused middle-market private equity firm, where she was responsible for investments in the business services, media and consumer services sectors.
In 2014, Harper co-founded a transportation-based start-up in New York. Before joining MidOcean, Harper worked as an Associate at Citi Private Equity. Harper began her career as an Analyst in investment banking at J.P. Morgan Chase.
Harper holds an MBA from Harvard Business School.
Howard Ouyang
Business Development Director - Wendel Singapore

Howard is of Taiwanese origin with a Singapore citizenship. Prior to joining the Group, he worked as an Assistant Vice President at EDB Investments. 

Howard started his career as an Engineer with Kingston Technology in California and occupied various operational and investment positions at The Pacific Venture Group, Europtronic, Rotol and Affinity Equity Partners. He graduated with a BS in Mechanical Engineering from John Hopkins University and earned his MBA from The Anderson School at UCLA. 

Charles Goulet
Charles Goulet

Graduated from ESSEC Business School and has a degree in law. He was an analyst at AXA Private Equity from 2008 to 2010 in London, then in Paris in the mezzanine and fund-of-funds teams. 

He had previously worked at Neo Capital Private Equity, a small and mid-cap LBO fund based in London as well as at HSBC in financial accounting in India.

Board member of Mecatherm. 

Celia Möller
Célia Möller

Célia Möller has joined the Wendel investment team in December 2012. After graduating from the ESSEC in Paris and the Mannheim Business School in Germany, Célia joined "Société Générale" in Paris in 2011 to work as an analyst within the mergers and acquisitions team. 

She relocated to the United Kingdom in 2016 to contribute to the opening of the London office.

Board member of Stahl.

Claude de Raismes
Claude de Raismes
Business Development Principal

Claude de Raismes is currently Business Development Principal in the investment team at Wendel. He started his career in 2007 working as an analyst at UBS Investment Bank in London in Global Syndicated Finance, where he participated, in particular, in LBO financing. 

Prior to this experience, he worked in financial audit at Deloitte in Paris. Claude de Raismes graduated from HEC and has a Master of Arts in French language from the Sorbonne. He speaks French, English and German.

Hélène Ba
Senior Associate
Hélène Ba joined Wendel in July 2017 as a Senior Associate. Hélène graduated from Yale University, from which she holds a Master in International and Development Economics. 

Hélène started her career as a Senior Economist (ODI Fellow) advising the South African National Treasury. She then joined the United Nations World Food Program as a Consultant for the West African Region, based in Italy. She then worked at Citigroup as an Analyst in the European leverage Finance team, in London, before joining, more recently, the Goldman Sachs’ Special Situations Group in London as an Associate.

Jamie Fletcher
Senior Associate

Before joining the Wendel Investment Team in 2014 as Associate, Jamie was an Associate in the merchant banking group at Macquarie Capital in New York.

Prior to Macquarie, Jamie graduated cum laude from Yale University with a Bachelor of Arts in Economics with Distinction.

Chadi Letayf
Senior Associate

Chadi Letayf joined the Investment Team in September 2012. He graduated from HEC in 2010 and gained 2 years of experience in the strategy consulting firm L.E.K. Consulting. 

As a consultant, he spent 6 months at the French Sovereign Fund. Previously, he had completed various internships at Société Générale, Havas Group and JP Morgan.

Eugene Zhuang
Senior Associate
Eugene Zhuang joined the Wendel Singapore office in 2016. 

Previously, Eugene was an Associate in Baring Private Equity Asia where he worked on transactions in Southeast Asia and Europe and took part in the monitoring of several portfolio companies. Prior to Baring Private Equity Asia, Eugene worked in investment banking as an analyst at Deutsche Bank in Singapore.

Eugene graduated with first class honours and as the valedictorian of his graduating class from Nanyang Technological University with a Bachelor of Accountancy.

Mohammed Fassi Fehri
Mohammed Fassi Fehri joined Wendel In July 2017 as an Associate. Previously, he worked at Eight Roads as an Associate in London.
Mohammed graduated from Polytechnique (in Paris) from which he holds a Master in Engineering (major in Applied Mathematics and Economics). He also holds a Master in Finance and Strategy from Sciences Po (in Paris). Mohammed started his career as a Consultant at Bain & Company (covering successively France, the Middle East and the UK).
Joseph Holloway
Joseph Holloway joined Wendel in 2016 as Analyst in the investment team in London.
After graduating from the University of Oxford in 2013 with a Bachelor in Philosophy, Politics and Economics, Joseph worked briefly for Centreville Partners in Burma. He then joined Lazard’s graduate programme in July 2014.
Kyle Hutchison

Kyle Hutchison joined the Investment Team in 2015. Prior to Wendel, Kyle worked at Moelis & Company in the Mergers & Acquisitions advisory group in Chicago. 

Kyle graduated from The Wharton School of the University of Pennsylvania with a B.S. in Economics, with concentrations in Finance and Management. He also received a Minor in French Studies.
Edzard zu Knyphausen

Edzard zu Knyphausen joined the investment team in 2013. Prior to joining Wendel as an Analyst, he already worked with the team on several investment projects during two internships in 2011 and 2012. 

During his studies, he acquired further practical experiences in several industries including banking (Bankhaus Lampe, UniCredit Group – HypoVereinsbank), strategy consulting (Arthur D. Little), e-commerce (Home24) and venture capital (Heilemann Ventures, now: Earlybird VC). 

Edzard zu Knyphausen, German citizen, holds a B.Sc. in International Business Economics from Maastricht University (among the Top 3% of students in 2009/10) and a Master in Management from ESCP Europe in Berlin and Paris (graduated with distinction). 
He speaks German, English, French and Spanish.

Grégoire Béraud
Grégoire Béraud joined Wendel in 2016 as an Analyst in the investment team in Paris. Grégoire graduated from Ecole Polytechnique. He also holds a Master in Finance from Princeton University and followed a dual program with HEC.
While studying in Princeton, Grégoire worked in Venture Capital for Prado Capital in New York. He had previously interned at HSBC in Paris in the Equity Capital Markets team.
William Nottin
William Nottin joined Wendel in 2018 as an Analyst in the investment team in Paris. William graduated from ESCP-Europe in 2017, with a specialisation in Entrepreneurship.

After an internship at Total Energie Gaz as a financial controller, he had a series of experiences as an Analyst: fisrt in London for Tikehau Investment Management, then back in Paris at Technip and Artemis – Financière Pinault.

Vera Kühne

Vera Kühne joined the Investment team in London as an Analyst. Previously, she worked at UBS in London as an Analyst in EMEA Global Industrials Group where she gained experience across a number of M&A and IPO executions.


Vera holds BA in Business Administration from the University of St. Gallen as well as double degree in MA Strategic Management from HEC, Paris and MA Banking & Finance from the University of St. Gallen. 

During her studies she completed internships at KPMG and Credit Suisse in Mid-Market M&A and then in Debt Capital Markets in Zurich.