Candover, the UK-based buy-out company, has hired Piers Dennison to keep investors in its €2.7bn ($2.9bn) fund informed of the performance of its investments, in response to a demand for greater transparency across the industry.

Dennison spent seven years as a management consultant at the Boston Consulting Group, where he specialised in the retail and telecoms sectors. He started his career in 1988 as an investment banker for SG Warburg, working in the London and New York offices on private placements of non-US securities to US investors.