Private Equity Team Leaves William Blair, Sets Up Own Shop

Aug 4 2006 | 12:00am ET

The partners of William Blair & Company’s private equity team have left to set up their own shop following a failure to agree on terms of the partnership agreement.

Ellen Carnahan and Gregg Newmark, who headed up William Blair Capital Partners, left the Chicago-based firm this week, taking with them managing partners Kathleen Johnston and Mio Stojkovich. The four have set up a firm called Seyen Capital.

This is the second time in as many years that William Blair Capital Partners has seen its management team flee.

Two years ago, five managing directors left to launch Chicago Growth Partners. Johnston and Stojkovich were then hired by William Blair to replace two of the directors who left at that time.

A spokesman for William Blair confirmed that the Chicago-based firm was suspending fund-raising efforts for its eighth fund, but he declined to elaborate further.

Calls to Gregg Newmark were not retuned by press time, though a message posted on Seyen’s new Web Site reads, “After agreeing to basic terms in July 2005 with William Blair & Company; and, despite having over one-third of the target commitments subscribed for a June 2006 closing, the partners of WBCP were unable to reach agreement with the firm on final partnership documentation.”

According to the note, the team will retain its portfolio responsibilities and the partners will continue as directors of the companies the prior funds have financed. The four are planning to remain in the private equity business and are “actively exploring new affiliate partners and opportunities.”

William Blair Capital Partners, which was established in 1982 and has managed over $1 billion in private capital, will continue to manage the three existing funds, William Blair Capital Partners V, VI and VII.  


In Depth

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.