Electra appoints Fortescue as managing partner

Taking effect on 1 January, the promotion saw Fortescue move from the chief investment partner role he held since March 2011.

The investment team will now be headed by partner Bill Priestley, who joined Electra from LGV Capital in January 2014, almost a year after the latter announced it would put a lid on new investments.

The changes mark an end to Mumford's decades-long tenure as head of Electra Partners. Having joined the group's listed entity (at the time known as Electra Investment Trust) in 1981, he was made a director three years later and remained at the helm of the smaller funds management arm between 1991 and 2015. Following the reshuffle, he will stay on board as chairperson of the investment committee.

The appointments are the latest to be announced by Electra Partners since setting a succession plan in motion in 2010.

Last April, the GP kicked off with changes at the deputy managing partner level with the retirement of Tim Syder. The firm also added Charles Elkington and Chris Hanna to its partner roster just as Rhian Davies left the role; both Syder and Davies stayed as senior advisers.

In addition, investment associates Shakira Adigun-Boaye and Tom Stenhouse were made investment managers and LGV Capital's Zoe Clements was recruited as investment director.

The succession at the top of Electra Partners follows recent turmoil for the listed Electra Private Equity entity. In November, activist investor Edward Bramson was vindicated as his appointment to the board was approved with 53.5% of the votes. His victory led to chairperson Roger Yates announcing he would resign with immediate effect.

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