LONDON Feb 13 Terra Firma, the private equity
fund controlled by British financier Guy Hands, said on Thursday
it had asked star manager and veteran Damian Darragh to leave.
The surprise departure of Darragh, after almost twenty years
with the group, comes as Terra Firma seeks investors
for its key $2 billion Renewable Energy Infrastructure Fund
Darragh, a managing director at Terra Firma, had been due to
head up the company's renewable energy fund alongside six other
Terra Firma said only that it had asked Darragh to leave
after a review and appointed Mike Kinski, Stefan Thiele and
Ingmar Wilhelm to jointly lead the Renewable Energy
Infrastructure team going forward.
"Mike, Stefan and Ingmar have outstanding financial,
operational and transactional skills. In addition, as a team
they bring strong leadership experience from corporate
backgrounds, a proven talent for fundraising and a true passion
for the sector," it said in a statement.
Hands and Darragh began working together as colleagues at
Japanese bank Nomura before the founding of Terra Firma in 1994.
Darragh, who could not be contacted for a comment, said on
his LinkedIn page that he was "on gardening leave."