Under the spring sun, Hind El Gaidi steps into the new premises of ICG (Intermediate Capital Group) on Boulevard Royal, in the heart of Luxembourg City. The British private equity specialist has seen its Luxembourg team double in size over the past year. “When I joined in October 2023, ICG had a compelling platform with a diversity of assets under management and an ambition to build nimble operations, attract agile talent and strengthen its positioning in Luxembourg; this opportunity spoke to me right away,” explains the Head of Luxembourg.
Hind joined ICG after gaining experience in international financial hubs. Starting at PwC right after graduating from Nyenrode, she moved from the Netherlands to Luxembourg in 2016. By 2019, she had transitioned to Astorg, where she took on a pivotal role as the Conducting Officer and Head of financial information and investor services, where she was part of the management team. Her mission was clear: to build operations around valuation, portfolio monitoring and value creation, alongside strengthening investor communication and support from Luxembourg.
She is candid about the challenges of hiring in a specialised and evolving sector. “It’s not a problem of shortage of talent; but rather finding the right combination between competency and intellectual curiosity. The talent pool in Luxembourg is slowly evolving to encompass profiles with international experience and direct exposure to investors and deals. We are collectively responsible for creating an environment where people can cultivate those career paths, instead of defaulting to hiring abroad.”
Roots and Realignment
Born in Rabat, Morocco, 38 years ago, Hind El Gaidi initially pursued a scientific path, influenced by her upbringing in a family of professionals; her father an engineer, her mother a doctor. Her early academic journey took her to Al Akhawayn University, an American-style institution in Morocco, on a prestigious scholarship. But after a year, she opted to follow her instincts. “I wanted to have a real life in a real city with real people, not in a campus with privileged kids although education there was top notch. At that time, I had also discovered a passion for economics and finance.”
Pursuing this new direction, she opted for a BA in Economics and Business Law at the University of Nice before selecting a more hands-on, entrepreneurial path for her master’s degree: a 16-month intensive programme at Nyenrode Business University in the Netherlands, founded by leading Dutch entrepreneurs.
That decision set her on a path toward a career in corporate finance. Through the university’s network, she secured an internship in PwC Amsterdam mergers & acquisitions team and joined the deals teams in 2009. There, she took part in M&A transactions, business restructurings, carve-outs and listings for blue-chip listed companies worldwide; an intense pace that spurred her next step.
“I had discovered Singapore thanks to a multi-billion transaction in the beverages industry. We spent more than 8 weeks there with the team to close this deal and communicate to the shareholders before the year end closing. A Christmas to remember. The desire to go work in Asia emerged. With my husband, we explored professional opportunities for a year, finding interesting opportunities in the same country. Since I became pregnant with my second child, we finally decided to stay in Europe. Little did I know that two weeks after my daughter was born, I was offered an opportunity to come to Luxembourg.”
"Whether I'm in Luxembourg or elsewhere, professionally and intellectually, I feel the same intensity.”
Private Equity in Motion
Hind admits she knew little about Luxembourg at the time. Her husband, active in the Trust & Corporate Services at the time, was more familiar with this market and convinced her to consider it. Once she arrived, the opportunities became quickly apparent. “Whether I’m in Luxembourg or elsewhere, professionally and intellectually, I feel the same intensity. I’m working daily with colleagues and partners from other financial hubs and also travel for business gatherings regularly. ” This move has been a stepping stone in her journey.
Her enthusiasm is rooted in the dynamism of the private equity (PE) industry, which she sees as ever-evolving. “Private equity (or private markets) is never routine; it evolves and adapts constantly to market conditions, regulation and investor demands. We see this ripple effect in Luxembourg, where its growing success stems largely from an interesting fund structuring toolbox, which first expanded thanks to legal aspects, and today I’m keen to see more technological solutions embedded in the toolbox to remain competitive financial centre.”
She champions the sector as a strong career starting point. “PE expertise is a transferable skill,” she affirms. “What you learn in Luxembourg can be leveraged in another role in PE anywhere else in the world.”
"What you learn in Luxembourg can be leveraged in another role in PE anywhere else in the world."
Connected and Grounded
Beyond her professional responsibilities, Hind finds Luxembourg’s scale and accessibility conducive to optimising a demanding career with family life. With three children, she carves out time for early-morning workouts and nature runs, luxuries afforded by the capital’s compact layout and a gym session for early-risers.
Professionally, she has become a well-recognised figure in Luxembourg’s PE scene. A regular speaker at conferences, she also sits on the board and executive committee of the Luxembourg Private Equity Association (LPEA) and co-founded the Luxembourg Valuation Professionals Association. Additionally, she advocates for creating communities for professional women in the sector and co-founded The Purple Table, a collective of executive women with shared business interests. These connections, she explains, reflect the open, collaborative nature of the financial ecosystem.
“Luxembourg is one of the few places where you can propose to the five people who manage the world’s most important investment funds to go have lunch together and converse openly with them. Like everything else in life, you just have to be willing to put the work. “
“Luxembourg is one of the few places where you can propose to the five people who manage the world's most important investment funds to go have lunch together.”