28 April 2021
Terra Firma announces that on 5 May 2021, Justin King will step away from his role of Vice Chairman at the firm. He will continue to advise Terra Firma and join an eminent list of advisers, but will no longer play an active part in running the day-to-day business of the firm or its portfolio companies.
Guy Hands, Chief Investment Officer of Terra Firma, says, “Justin has been a great asset to Terra Firma and to our businesses that were in TFCPII and TFCPIII. We have now successfully exited both funds and I have no intention of raising another blind pool fund, as I am shifting towards running a family office model. We are therefore only retaining assets that fit within this new investment criteria. Justin and I have agreed that we will continue to work together on appropriate investments. I look forward to continuing to work with him in this capacity.”
Justin King says, “Over the past 18 months the exits from TFCPII and TFCPIII were being completed, and the investment focus of Terra Firma shifted to a deal-by-deal model with the Hands Family Office as the cornerstone investor. As such, the need for a Vice Chairman has changed, however the relationship I have maintained with Guy and with Terra Firma remains strong and positive, and I look forward to our continued working relationship.”