
Terra Firma hires three new managing directors
Private equity firm Terra Firma has appointed Alex Williams, Jyrki Lee Korhonen and Michele Russo (pictured) as managing directors.
According to the Italian publication Milano Finanza, Russo, Williams and Korhonen will build up a new team based in London focused on secondary and special situation transactions in the European market. Terra Firma was not available to confirm this at the time of publication.
Williams joins Terra Firma from First Reserve, where he worked as managing director. Prior to the role, he worked at 3i Group as a director.
Korhonen joins from Triton Advisors, where he worked as a partner for 12 years, focusing on the Scandinavian market.
Prior to joining Terra Firma, Russo was the majority shareholder of the Italian mid-market buyout house Opera, where he focused on secondary transactions. Russo had worked as a partner at Doughty Hanson and Lazard before his time at Opera.
According to press reports, Russo participated in the auction process to purchase the Italian private equity firm Clessidra, later acquired by the holding company Italmobiliare. Following the deal, Opera promoted investment manager Christophe Lefèvre to CEO after Russo's departure.
The appointments at Terra Firma follow the recent step back of CEO Tim Pryce, who remained in the business as managing director. More recently, the company hired Justin King as vice-chair and head of portfolio businesses, and Peter Miholich as managing director.
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