Price, who joined Candover from hedge fund SRM Global last April (22 April 2009), has now taken responsibility for the company’s operating infrastructure, including risk, HR and IT.
He will continue to take charge of the private equity house’s legal and compliance functions.
Price, who trained at CMS Cameron McKenna legacy firm McKenna & Co held in-house roles at UBS Investment Bank and Dresdner Kleinwort prior to joining SRM.
At SRM he held the position of chief executive officer, remaining at the hedge fund during its legal action against the British Government over the collapse of Northern Rock.
Candover managing partner John Arney said: “The significant challenges that arose in 2009 for Candover led to a fundamental review of our business model and afforded us the opportunity to strengthen our organisation and refresh and revitalise our team.
“Philip’s new role is a reflection of the high quality of our people and a consequence of our determination to succeed as one of the first fully restructured private equity houses in a much-altered European market.”