Smith To Retire As CVC Chairman

Oct 30 2012 | 9:12am ET

Michael Smith will retire as chairman of CVC Capital Partners early next year to be replaced by not one but three men.

The European private equity specialist announced Monday that Smith's role will be taken over by Donald Mackenzie, Rolly van Rappard and Steve Koltes, who will act as co-chairmen of the company.

Mackenzie will oversee CVC’s investment and portfolio committees, van Rappard will chair the two private equity boards that control the firm’s daily operations and Koltes will assume Smith’s investor relations duties.

“Having spent 30 years in the business from its origins with Citicorp in the early 1980s through to independence in 1993, and the subsequent development of the business to where it is today, I have decided to retire from CVC in January,” Mr. Smith said in a statement on Monday.

CVC manages capital for about 300 institutional, governmental and private investors worldwide.


In Depth

U.S. Treasury Moves on Reinsurance Loophole

Apr 24 2015 | 5:11pm ET

The U.S. Treasury Department has released proposed rules aimed at limiting the ability...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Starting a ‘40 Act Fund Family? Don’t Forget Your Board

Apr 30 2015 | 7:18am ET

The convergence of the hedge fund and mutual fund worlds continues unabated, as...

 

Editor's Note