Moulton quits as Alchemy head

Jon Moulton, one of the founding fathers of the UK private equity industry, has resigned as head of Alchemy Partners.

He announced his departure with a vitriolic attack by letter on the firm he founded in 1997.

“The state the firm is now in leads to the view that the best solution for investors and the partnership is an early orderly plan termination,” he said. “The plan’s economics are no longer favourable.”

So, is private equity a bust concept?

Some of us have always thought that.

Maybe others are now realising it.

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3 Responses

Jon Moulton bails from Alchemy: what about COA? | AccMan says:

September 4 2009 at 10:10 am

[…] Richard Murphy wonders whether this represents the end of private equity in the UK. That’s a little prescient. […]
Henry Law says:

September 4 2009 at 12:58 pm

Good name. People who claim to be able to turn base metal into gold used to be called charlatans.
Alex says:

September 4 2009 at 8:25 pm

Not at all. If you read the letter you will see that Moulton disagrees with the strategy of his partners. The majority view prevailed and he left.