IR pro Hurwitz leaves Sun Capital

Richard Hurwitz joined Sun Capital in 2005 and was integral in helping the firm raise its $6bn fifth fund. The firm shrunk the fund by $1bn last year.

Richard Hurwitz, a long-time fundraiser at Sun Capital Partners, has left the firm.

Hurwitz and Sun had an “amicable” parting, a source told PEO. Sun Capital declined to comment. Hurwitz could not be reached for comment.

Scott Edwards, a principal with Sun, has been running the investor relations and communications team for more than a year, and will continue in that role. Sun is looking to hire a replacement for Hurwitz.

Hurwitz joined the firm in 2005 and was integral in helping Sun raise its fifth fund, which closed on $6 billion in 2007. The fund has been reduced by $1 billion after the firm allowed its limited partners to shrink their commitments last year.

Sun’s fifth fund eclipsed its fourth fund, which closed on $1.5 billion in 2005. At the time the fund closed, Hurwitz told PEO the firm decided to raise a larger fund to avoid having to fundraise every two years.

Raising a fund every two years, “is too disruptive to deal flow”, given the firm’s investment pace, Hurwitz said. “Last year we did 33 acquisitions; the year before, 30 – that translates into 18 platforms in 06 and 15 platforms in 05. And this year alone we’ve already acquired 10 platforms.”