NBGI Private Equity’s UK head Mark Owen has decided to step down 13 years after helping to found the business.
An email from Owen, pictured, said he would be replaced by Richard Babington and Lawrence Dean following his departure.
Owen said he planned to take a “much deserved break” beginning with some travelling, before returning to take on fresh challenges in 2014.
He last spoke to AltAssets in mid-July following NBGI’s stunning exit of the final part of Ochre House to Accel-KKR backed US business Pinstripe, which netted the firm an overall return of four times.
That deal was the last Owen retained direct involvement with throughout its life and allowed him to “leave on a high note”, he added.
NBGIPE announced in May that it was increasing its strategic focus around the three core sectors of support services, healthcare and food manufacturing.
The firm hired former Rentokil Initial senior executive Sandy Young as its first advisor and food and drinks industry veteran Tim Kelly as the second member of a panel a month later.
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