Cathay Capital Private Equity, a France-based private equity firm, has hired Daniel Balmisse, formerly of BPIfrance, as its chief operating officer, according to China Money Network.

Balmisse served as executive director at BPIfrance, the public investment bank of France, and will take on his new role at Cathay Capital this coming July.

Before working at BPIfrance, Balmisse was employed by French government-owned CDC Enterprises as deputy chief executive for venture capital funds of funds activities. BPIfrance was created in 2012 when CDC Enterprises, Oséo and FSI were merged.

Cathay Capital runs a number of funds including the Cathay Sino French (Midcap) Fund, Sino-French Innovation Fund and the Cathay Midcap Growth Fund III. All three of these funds are backed by BPIfrance.