Hicks Muse restructuring to allow European spinout

Hicks Muse Tate & Furst (HMTF) has restructured to enable its European business to spin-off from its US parent, according to the Financial Times. The pressure for the spinout has come from investors, which have been asked to pledge E1bn for its second fund dedicated to European buyouts. As a result HMTF has altered its compensation structure to give the European team around 93% of the carry from the Europe II fund. The only partner with a continuing interest in both the US and European arms is John Muse, who recently moved to the London office and will take over from Tom Hicks, who retires next year.

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