Advent appoints ex-Boots chief

Private equity firm Advent International yesterday appointed Richard Baker, former Alliance Boots chief executive as an operating partner. Baker has been acting as an adviser to the group since the beginning of the year. Baker led the merger of Boots and Alliance Unichem as well as steering the sale of the firm to Stefano Pessina and buyout firm KKR. Advent claims to have invested in excess of $2.7bn (£1.63bn) in equity across the retail, consumer and leisure sector since 1984. Baker is also non-executive chairman of gym group Virgin Active.