UK mid-market private equity firm Gresham has lost five of its partners with Anthony Bull, Mark Blower, Mike O’Brien, Andy Tupholme and Gary Ward all departing the business.
The firm’s LPs have been made aware of the departure of two senior-level investment professionals and three mid-level investment professionals and are said to supportive of the team changes, a source said.
In July former managing partner Paul Marson-Smith assumed the role of chairman with Simon Inchley taking over as managing partner.
The firm was recently reported to be looking at launching its fifth buyout fund next year following discussions with its limited partners.
Last year AltAssets reported that the firm had hired advisory group Rede Partners to place the fund, which at the time was expected to come to market this year.
Gresham IV is now more than 75 per cent deployed, and the firm has been conducting pre-marketing for a new vehicle alongside an extension to Fund IV’s investment period.
Earlier this year the firm exited 7city Learning with its sale to Fitch Group for around £90m.
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