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Succession

The firm has completed a management review prompted by former chief executive Tim Jones’ sudden departure in January, opting not to replace him.
Gary Bialik takes up his post at a time of transition for the New York-based firm, which is considering new investment opportunities after suspending fundraising for its sixth fund last summer.
The latest LP vote provides a way forward for the firm, which had paused fundraising following the death of founder Claudio Sposito in January.
David Shukis, who joined the advisory and research firm in 1989, retired on 30 June, with the current chairman and CEO taking over his responsibilities.
Four former partners have stepped up to senior advisory roles as part of a generational change.
Successful GPs wishing to leave a legacy need to make it easier for junior partners to buy equity in a firm, writes Jonathan Harvey of Investec Fund Finance.
Australian firm CHAMP Ventures’ decision to wind down in the face of succession issues is a reminder that the industry needs to manage the transition to new leadership with care.
The firm has added former Triton, First Reserve and Doughty Hanson deal makers to its bench.
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