August Equity managing director Andrew Hartley has resigned from the firm to “pursue fresh challenges and new business interests”, August Equity said in a statement.
The firm declined comment beyond the statement.
Hartley joined the UK mid-market private equity firm in 1995. He was named joint managing director alongside Richard Green in 2000.
Prior to joining August Equity, Hartley spent seven years at European private equity firm 3i.
August Equity changed its name from Kleinwort Capital in 2006 following the exit of cornerstone investor Dresdner Kleinwort Wasserstein. Swiss-based alternative investment specialist Partners Group and F&C Private Equity Trust, the private equity arm of the UK’s F&C Asset Management, acquired Dresdner Kleinwort Wasserstein’s £60 million interest in Kleinwort Capital’s £130 million fourth fund.
Kleinwort Capital was spun out of Dresdner Kleinwort Wasserstein in November 2001 by its management team. The firm received backing from its founding investors Dresdner Kleinwort Wasserstein and Kleinwort Capital Trust, a quoted investment trust.
August Equity typically invests between £10 million (€12.7 million; $17.6 million) and £50 million of equity in UK-based companies in the healthcare, media and technology, industrial products and services and consumer products and services sectors. The firm has €285 million in capital under management.