Johan Van De Steen has joined Strategic Value Partners as a senior operating partner, the firm announced in a statement Monday. Van De Steen will join the distressed specialist's London office.
Van De Steen previously worked for Vision Capital, where he headed that firm’s portfolio management committee. His experience in operations includes a stint with Kohlberg Kravis Roberts’ Captsone team, which specialises in overseeing operational improvements within KKR’s portfolio companies. Van De Steen has also held positions with McKinsey & Company and Siemens.
“SVP Global has a long-established reputation for investing in distressed opportunities where value can be driven by both financial restructuring and operational change. I very much look forward to working alongside [SVP founder Victor Khosla] and our European team in further enhancing our capabilities in the region,” said Van De Steen in a statement.
SVP held a first close on its third special situations fund in December, a source with knowledge of the fundraising told Private Debt Investor. The fund is targeting $1 billion in commitments for investments in the distressed debt of middle-market companies and assets where SVP “can exert meaningful influence”, the source said, adding that Fund III will likely have a greater European focus than previous SVP funds.
Khosla founded SVP in 2001. He previously held positions with Merrill Lynch, Cerberus and Moore Strategic Value Partners.