Strategic Value Partners LLC, a global investment firm focused on private credit opportunities with over $17 billion of assets under management, has added Dave Richards as managing director and co-head of its investment-operating team in North America, and Sergei Spiridonov as managing director and co-head of its investment-operating team in Europe.

Richards joins SVP from Advent International, where he spent 14 years helping grow the firm’s global portfolio support group, refining its capabilities focused on supporting management teams in the development and implementation of value creation plans. Prior to Advent, Richards was with Bain & Co., providing private equity clients with due diligence and portfolio company support. Earlier in his career, Richards worked at A.T. Kearney and Kraft Foods.

Spiridonov joins SVP from Sun Capital, where he served as managing director of operations, following his role as group COO and operating partner at the firm, which he joined in 2015. Prior to Sun Capital, Spiridonov led the strategic transformation team at Tesco, focusing primarily on resetting the direction of the international business. Before Tesco, he was a partner at McKinsey & Co. He previously held positions as chairman of the supervisory board at CNC Holding BV and non-executive board member at Bonmarche.