French firm Edmond de Rothschild Capital Partners (ERCP) announced that its managing partners Eric de Montgolfier and Erick Fouque have decided to step down.
The pair will be replaced by Bertrand Demesse and Louis-Antoine Roullier, who were promoted to managing partners.
De Montgolfier and Fouque have also agreed to sell their 40 per cent interest in ERCP to The Edmond de Rothschild Group, which now controls 100 per cent of the firm.
The former managing directors were believed to be at odds over strategic plans with Edmond de Rothschild Group, which decided to concentrate on on raising a new fund for Edmond de Rothschild Investment Partners (EDRIP).
Last month EDRIP closed its fourth life sciences fund, BioDiscovery 4, on €192m, according to VentureWire.
ERCP manages €530m through several dedicated funds targeting the French LBO growth in businesses valued at between €30m and €200m. Its investment strategy targets both rollout and buy and build strategies
The firm’s portfolio companies include Artedist, which acquired paper company Alpem in a bolt-on deal late in 2012.
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