Vision loses another IR exec

Julia van Tuyll’s departure to Lion has raised questions about Vision’s ability to raise a new fund any time soon

Julia van Tuyll has become the latest investor relations professional to leave UK-based secondaries specialist Vision Capital.

Van Tuyll has joined Lion Capital as a vice president in the IR team, according to her LinkedIn profile. She is no longer listed as a team member on Vision’s website. Van Tuyll had been with Vision for 13 years, having joined the firm in 2001.

Vision did not respond to a request for comment at press time.

Van Tuyll’s departure comes after Vision lost its head of investor relations Charles Robinson in May. Robinson, who had been with Vision since 2011, joined Black River Asset Management, the alternative investment arm of Cargill, a global supplier of food, agricultural and industrial products and services, in June. At the time, the firm told PEI that there were no immediate plans to replace Robinson.

Another high-profile recent departure was Johan van de Steen, a partner and head of global portfolio, who left Vision late last year to join Strategic Value Partners. According to one source familiar with the firm, some of the firm's LPs were “disappointed” by van de Steen's exit. Again, Vision said there were no plans to hire a direct replacement.

The departure of Robinson and Van Tuyll, in such quick succession, suggests Vision has no immediate prospect of being able to raise a new fund, according to multiple LP sources. As of today, none of the team listed on Vision's website have an investor relations function.

Recently the firm tried to sell part of its legacy portfolio, which was regarded as an effort to kick start its next fundraising. However, that process seems to have stalled, at least for the time being, one source familiar with the matter told PEI.

Vision last raised a fund in 2009: the €680 million Vision Capital Partners VII. The fund was almost twice as large as its previous fund, a 2006-vintage, with 90 percent of its existing investors re-upping, according to the firm.