Managing director of fund of funds manager Quartilium Richard Clarke-Jervoise has stepped down.
Clarke-Jervoise will take up a new role as investment manager of private equity investments at wealth manager Fleming Family & Partners.
Quartilium will now be now led by Gilles Michat. Last year Quartilium was sold by French insurance group Groupama to ACG Group, which merged it with its fund of funds unit.
ACG’s fund of funds business currently has more than €2bn under management. Quartilium has €900m committed to 110 primarily US and European funds including those managed by general partners such as EQT, Blackstone and Insight Venture Partners, while ActoMezz fund has €187m in committed capital.
Richard’s appointment marks a further step in the development of FF&P’s investment approach and methodology, the firm said. He will be responsible for continuous development and enhancement of FF&P Asset Management’s private equity proposition.
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