Private equity firm Carlyle Group LP sold its stake in Peru-based cash management services provider Hermes Transportes Blindados SA to CVC Capital Partners VII LP for approximately $400 million.

The transaction closed Jan. 7 after CVC Capital Partners Ltd. launched a tender offer Dec. 3, 2019.

Hermes, headquartered in Lima, offers logistics, cash processing and custody services to a client base in the financial, retail, utilities and mining segments.

It's personnel

Separately, Carlyle appointed Ian Read, former chairman and CEO of Pfizer, as an operating executive in the Global Healthcare Group.

Read will help Carlyle's healthcare team explore investment opportunities and build, grow and transform companies globally. He will advise Carlyle's healthcare management teams on growth strategies, leadership and talent development, effective operations, and risk management.

Bryan Corbett, a partner at the private equity giant, was also hired as president of the Managed Funds Association, the hedge fund industry's main trade group, effective Jan. 21. Investment firms are looking to strengthen their lobbying presence, Bloomberg News reported.