Christophe Evain, the chief executive and chief investment officer for Intermediate Capital Group, will be stepping down from his roles in July, according to a company announcement. Evain will be replaced by Benoit Durteste, the firm’s head of European investments.
Evain will step down from the role at the firm’s annual general meeting on 25 July. A source familiar with the situation told Private Equity International's sister title Private Debt Investor Evain is retiring following 23 years with the firm and does not, at present, have another role lined up.
The source added there will be no direct replacement for Durteste. Since Durteste’s appointment a number of additional managerial appointments have been made which allow the role to be absorbed among his team.
The company announcement also noted the firm had appointed an external search firm in looking for a new CEO and CIO before deciding on Durteste. He has been with ICG since 2002 and joined the firm’s executive committee in 2012. He also led the firm's expansion into secondaries.