Hal Rosser Leaves Bruckmann Rosser Sherrill--UPDATED
Hal Rosser will leave New York-based private equity firm Bruckmann, Rosser, Sherrill & Co. to launch a new private equity firm with colleagues Jacob Organek and his son, Luke Rosser. He was one of the founders and managing directors of the firm. (UPDATE: peHub spoke with Stephen Sherrill, one of the PE firm's remaining founders, and he tells us that because Bruckmann's key man provision would require two, and not one, of its four most senior members to depart to constitute a breach, the defection of Rosser for his father-and-son endeavor does not get the remaining team in hot water with LPs. Sherrill and Thomas Baldwin, another of Bruckmann's most senior members, told peHub that the move has no impact on the PE firm's third fund, which is only about 25% deployed and has about 36 months remaining on its initial investment period. At this time, they said, there are no plans established to begin engaging LPs on a BRS Fund IV.)
