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Triago exec to launch own firm

Jérémie Le Febvre believes more GPs will bring fundraising in-house, having parted company with the Paris-based placement firm.

Jérémie Le Febvre, a managing partner at Paris-based placement agent Triago, has parted company with the firm and will now branch out on his own because he believes changes are coming to the traditional placement agency model, he told PEI

Le Febvre said he had “decided to leave”, but Triago on Friday released a statement saying it had “terminated Mr. Le Febvre's employment with the company”.

In addition, Triago said it had the “gravest reservations” about his comments “focused on the business activities of Triago”.

Speaking about his future intentions, Le Febvre said he plans to launch his own firm in January next year as he was “sceptical” about the traditional placement agent model in the current environment.

Le Febvre said he had identified a trend towards internalising fundraising functions amongst GPs.

Explaining how his new venture would differ from conventional placement agents, he said: “The idea is to have a much more holistic approach to the management of the GP / LP relationship. This will involve ‘backstage’ advisory on fundraising strategy and client / investor acquisition as well as more broad assistance to GPs looking to internalise the fundraising function – recruitment, implementation of appropriate tools.

“The placement agent model is being challenged right now. It’s important to take an innovative approach to factor in the undeniable trend of the internalisation of the fundraising function,” he added.

Le Febvre joined Triago in 2008. He was responsible for coordinating the firm’s primary origination and execution functions globally with a focus on Asia and the Middle East. Previously he worked in the private funds and financial institutions groups at UBS.

A spokesman for Triago said there was “no need” to replace him as Triago has been hiring “throughout the year”. Triago has four managing partners following Le Febvre's departure – Mathieu Dréan, Nicolas de Nazelle, Jean Marc Cuvilly and Philippe Hercot – who report to founder and chief executive Antoine Dréan.