Leadership
The People Behind
Our Decisions
Governance
Supervisory Board
Chairman of the Supervisory Board
Sole member of the Supervisory Board, which carries ultimate responsibility for strategy, capital allocation, and the stewardship of the companies we own.
Biography
Spas G. Kostov is Chairman of the Supervisory Board of EL Engineering Industrial Holdings, having joined the group in January 2025 as Group Chief Investment Officer and led origination through integration on more than ten transactions across industrials, infrastructure, energy, and regulated markets.
His approach combines an investor's read on risk-adjusted return, a lawyer's rigor on structure and precedent, and an operator's accountability for what happens after close. Before EL Engineering he served as Global Legal Counsel to Thermo Fisher Scientific and PPD, Corporate Legal Counsel to VIVACOM, and Senior Legal Counsel to Bulgaria's Ministry of Agriculture and Food, advising on more than forty cross-border transactions since 2019.
Independence
Supervisory oversight is exercised independently of the operating businesses and their trading counterparties.
Transparency
Annual reporting to shareholders and LPs is prepared to the highest standards of disclosure and clarity.
Accountability
Executive remuneration is fully aligned with long-term value creation metrics, not short-term trading results.
Governance
Board of Directors
Spas G. Kostov
Chairman
Lord William Cavendish
Senior Independent Director
Prof. Elena Strateva
Chair, Audit Committee
Jean-Pierre Moreau
Chair, Risk Committee
Dr. Mehmet Yilmaz
Non-Executive Director
Sofia Bergström
Non-Executive Director
Executive Team
Senior Leadership
Isabella Marchand
Chief Executive Officer
Chief Executive Officer since 2024. Previously Partner at Ardian and Head of M&A for Lazard France, with two decades structuring cross-border transactions for family groups and institutions across the consumer and healthcare sectors in France, the DACH region, and CEE. MBA from INSEAD. Based in Zurich.
Full Biography →
Karim Al-Rashid
Managing Director, MENA
Managing Director, MENA. Leads the firm’s Middle East and North Africa operations from Dubai and its relationships with sovereign and private capital across the Gulf. Formerly with Goldman Sachs Investment Banking and Mubadala Investment Company. Fluent in Arabic, English, and French.
Dr. Helena Voss
Chief Investment Officer
Chief Investment Officer. Two decades of private equity experience across Germany, Austria, and Switzerland — formed on mid-market buyout platforms in Frankfurt, Vienna, and Zurich, where she served on numerous portfolio boards before joining EL Engineering. Leads portfolio construction, deal evaluation, and risk management. PhD in Finance from Goethe University Frankfurt.