Doughty Hanson Completes Restructuring
Doughty Hanson, one of the largest independent private equity firms in Europe, today announced its intention to focus on its private equity business following the creation of a new partnership structure.
After the death of co-founder and majority shareholder Nigel Doughty in February 2012, Dick Hanson has resumed his role as Head of Private Equity and Executive Chairman. He has conducted a review of the overall business to ensure it is best positioned to continue to deliver outstanding returns to the investors in its funds. As a result of this review, the Firm will focus on its core business of private equity. No future funds will be raised for its Real Estate or Technology Ventures businesses.
Members of the Real Estate team will continue to manage Real Estate Fund II as before. Members of the Technology Ventures team will continue to invest Technology Ventures II and manage the Technology Ventures portfolio.
Doughty Hanson CEO, Stephen Marquardt, said: “We have spent considerable time speaking with our investors and reflecting on the future of the business. While we have had notable successes in both Real Estate and Technology Ventures, the real heritage of Doughty Hanson lies in its private equity business, where we have an outstanding track record. Following the creation of a partnership structure for the private equity business, today’s announcement is a logical step and in the best interests of our investors, the firm and its many stakeholders.”
"We are not planning to make changes to our Real Estate or Technology Ventures teams, which will continue to manage their existing funds as before and will focus on generating returns for our investors. However, we will not be establishing any new funds in these sectors.”
For over 25 years, Doughty Hanson has had a history of creating value, investing responsibly and generating superior returns for its Limited Partner investors. Recent transactions have included the acquisition of Quirón/USP Hospitales, one of the largest private hospital operators in Spain; Eurofiber, a major fibre optic company in the Netherlands; and in Germany, the public-to-private acquisition of CinemaxX by Vue Entertainment. Recent realisations have included the successful IPO of Tumi (a Private Equity Fund IV portfolio company) on the NYSE in April 2012, as well as a secondary public offering in November 2012, and the sale of Norit (a Private Equity Fund V portfolio company) which was announced in June 2012.