Andrew Gesell is expected to leave Court Square Capital, according to sources close to the firm, though a time frame for his departure is uncertain. Media reports have indicated that Gesell, who focuses on the technology sector, intends to leave when the firm completes fundraising on its latest vehicle, though that could not be confirmed as of press time.
Prior to joining Court Square in 2004, Gesell was an investment banker for technology companies at Credit Suisse First Boston and a consultant with Ernst & Young, providing bankruptcy and restructuring advisory services, according to the firm’s website. Gesell has not stated what he would be doing after he transitions out of his role at Court Square. Partner Christopher Bloise, principal Jeffery Vogel and managing partner Michael Delaney will continue to handle the firm’s technology platform, a source said.
Gesell sits on six of the firm’s portfolio companies, according to its website: software developer ANCILE Solutions; IT outsourcing firm CompuCom; fiber infrastructure provider Fibertech; hospitality software company Newmarket International; Rocket Software and unified communications services, software and hardware company Strategic Products and Services.
Court Square declined to comment on this story. Andrew Gesell could not be reached for comment at press time.
The firm’s limited partners have already been notified that Gesell will be leaving the firm, according to a source. Gesell is not a key man on the firm’s funds.
LPs in the firm’s second fund, which raised $3.1 billion in 2007, include the California Public Employees’ Retirement System, AP Fonden, the New Jersey Division of Investment and the Oregon Investment Council. The fund was generating a 10.4 percent internal rate of return and 1.2x return multiple as of 31 March, according to CalPERS documents.
Court Square has invested over $4.5 billion in more than 150 transactions, which have returned $14 billion to date, according to its website. The firm focuses on the building products, business services, chemicals, consumer products, food products and services, healthcare, manufacturing, media, technology, telecommunications and transportation sectors.