David Mosher, a managing director with Madison Dearborn Partners who focused on back office and investor relations work, has decided to retire for personal reasons.
Mosher was one of 14 founding principals who started Madison Dearborn in 1992, along with six support staffers. Of the 14 principals, 11 were dealmakers, with Mosher the chief administrative officer with responsibilities for investor relations, information technology, legal and finance.
Mosher said in a letter sent to investors last week that the firm has staffed all the back office functions he oversaw.
“It was my goal to have in place people who were experienced professionals, who have spent their careers in each of these functional areas and certainly that is the case,” he said. “One would always like to believe they are indispensible, but given the organisation in place, there is no doubt we will not miss a beat.”
Mosher recruited John Knutsen and Dave Pequet from Credit Suisse to run the investor relations unit for Madison Dearborn, a spokesman said. He will officially leave the firm 26 June.
In May, Thomas Goldstein, Madison's chief financial officer, left the firm seeking “more of a challenge”, he said in media reports. The firm has been raising a fund since 2007 and cut its original target from $10 billion to $7.5 billion last year.
Earlier this month, Madison's real estate arm spun out to form Ceres Real Estate Partners.