Former Fitness First CEO and current chair Andrew Cosslett has joined global private equity firm Advent International as an operating partner, with a brief to advise on investment opportunities in the leisure sector.

Cosslett – who was moved upstairs at Fitness First this summer as owner Oaktree Capital Management sought to speed up its sale plans – will harness his extensive experience in the leisure industry, which includes a six-year stint as CEO of InterContinental Hotels Group.

The new part-time advisory role will see Cosslett work closely with Advent’s Retail, Consumer and Leisure team to identify new global investment opportunities, with a particular focus on the leisure sector. He will also support activity in Advent’s investment portfolio – which has included lesiure brands such has Parques Reunidos and Venere.com – as required.

“I am delighted to be working with Advent. Their sector approach, global network and strong track record of creating value make them a compelling partner,” said Cosslett.

“I look forward to working with the team and drawing on my experience and network to find exciting new investment opportunities.”

Cosslett will combine his new role with his ongoing duties as chair of Fitness First. Health Club Management understands that owner Oaktree hopes to complete a sale of the gym chain in the next six months – a goal Cosslett's new position could well help to expedite.