Private parts

7 July 2004 By Rob Cox Follow @rob1cox

The industry is for the first time dealing with generational change, with founding partners considering greener pastures. While there will be a temptation for some firms to sell out, the economics of the business don t make that an obvious choice.

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Last week, three of the ten managing partners at BC Partners announced their intentions to step down from the UKbased private equity firm, which has participated in some of the biggest European buyouts, including Seat Pagine Gialle of Italy. The partners are Michel Guillet, founder of its Paris office; London chief John Burgess; and Milan head Alberto Tazartes who will leave the firm next year. Tom Hicks, of Hicks Muse Tate & Furst, the US buyout house earlier this year announced his intention to step down from the business.

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