Succession

The institutionalisation of the private equity industry brings with it a changing of the guard. It is necessary, inevitable and a little sad.

Two industry giants have unveiled details of their transitions from founder control to the next generation. Will Blackstone’s Schwarzman be next?

The court case between PEP and spin-out Adamantem shows why attribution is crucial.

Michele Russo, a Doughty Hanson and Lazard veteran who joined the buyout firm as a managing director, has left after over one year in the role, Private Equity International has learned.

In 2016 the death of Clessidra’s founder and figurehead threw the Italian firm into disarray and threatened to scupper a fundraising process. PEI meets the man charged with riding to the rescue.

Is investor focus on key person clauses misguided?

Christophe Evain will be replaced in his capacity as ICG’s CEO and CIO by Benoit Durteste in July.

PAI Partners was nearly destroyed by an internal dispute in 2009. Eight years later, it is deploying its over-subscribed sixth fund. The firm’s head talks about the comeback.

Andy Powell will take over the role from Paul Cartwright, who remains at the firm as a partner.

Thoma Bravo just closed Fund XII on $7.6bn, twice the size of its predecessor. Managing partner Orlando Bravo talks about how the firm evolved from a generalist private equity shop to a software specialist, and his own role in that transformation.