Julia van Tuyll has become the latest investor relations professional to leave UK-based direct secondaries specialist Vision Capital.
Van Tuyll has joined Lion Capital as a vice president in the IR team, according to her LinkedIn profile. She had been with Vision for 13 years, having joined the firm in 2001.
Van Tuyll’s departure comes after Vision lost its head of investor relations Charles Robinson in May. Robinson, who had been with Vision since 2011, joined Black River Asset Management, the alternative investment arm of Cargill, a global supplier of food, agricultural and industrial products and services, in June. At the time, the firm told PEI that there were no immediate plans to replace Robinson.
PEI understands that van Tuyll will not be replaced either – which means the firm will be left with no dedicated IR staff.
Another high-profile recent departure from Vision was Johan van de Steen, a partner and head of global portfolio, who left late last year to join Strategic Value Partners. Again, Vision said at the time there were no plans to hire a direct replacement.
Recently the firm is understood to have launched a process to try and sell part of its legacy portfolio. It is unclear what the status of that process is currently.
Multiple LP sources suggested to PEI that the departures of Robinson and Van Tuyll, in such quick succession, meant that Vision had no immediate prospect of being able to raise a new traditional fund.
However, it is understood that in the near term, the firm still has plenty of capital available to make new investments, some of which sits outside the main fund in non-traditional structures. According to a source familiar with the firm, about €1 billion of the €2 billion it has invested since inception has been put to work in this manner.
The firm's previous fund, the 2009-vintage €680 million Vision Capital Partners VII, was raised just three years after its previous €353 million fund, and was almost twice as large, with 90 percent of its existing investors re-upping, the firm said at the time.
Vision declined to comment.