January 9, 2018 / 12:37 PM / 11 days ago

UK buyout fund Terra Firma appoints new CFO, directors after skipping dividend

LONDON, Jan 9 (Reuters) - Terra Firma has appointed Vivek Ahuja, former deputy group chief financial officer of Standard Chartered, as group financial officer, the British private equity firm said on Tuesday.

The backer of the beleaguered Four Seasons care homes chain has also appointed Mark Elliott as a managing director and head of support capital. Elliott joins from Lloyds Banking Group .

David Browne is joining as a director in the private equity team from Paine Schwartz Partners, a specialist private equity fund based in New York.

Terra Firma, which sources say is seeking 3 billion euros ($3.58 billion) for its fourth buyout fund, paid no dividend to its shareholders in the year ending March 2017, it said in company accounts on Thursday, compared with the 3.5 million pounds ($4.7 million) it paid in the previous year.

Since being founded by Guy Hands in 1994, Terra Firma said it has invested over 17 billion euros of equity and 14 billion euros of capital expenditure in 33 businesses. ($1 = 0.8383 euros) ($1 = 0.7392 pounds) (Reporting by Dasha Afanasieva; Editing by Adrian Croft)

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