Doughty Hanson to reshuffle partnership structure

The GP will create a new firm, wholly-owned by an Employee Trust and Richard Hanson. It has stated that the newly created Employee Trust will be the majority shareholder in this vehicle by the time it raises its Fund VII.

Moreover, the investment manager of its next fund – Fund VI – will be structured as a limited liability partnership (LLP), domiciled in the UK and regulated by the Financial Services Authority. This differs from the private limited company structure employed by the investment manager for its current fund.

Chief executive Stephen Marquardt believes that "while borne out of very sad circumstances," the new structure will provide the best way of ensuring that the firm delivers value to existing investors, while retaining and incentivising staff to deliver returns.

The changes follow consultation with Mr Doughty's estate, Doughty Hanson employees, fund LPs and advice from merchant bank Richmond Park Partners.

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• UK / Ireland
• United Kingdom
• Doughty Hanson & Co