If you’re ever thinking about launching a new private equity firm, be careful about putting your own name on the door. Think about how Kohlberg Kravis Roberts & Co. has long been missing its Kohlberg, or how Thomas H. Lee Partners had to rebrand after Tom broke up with his younger partners.
The latest in this pantheon is Bruckmann, Rosser, Sherrill & Co., a New York-based firm with approximately $1.4 billion in capital under management. BRS today announced that co-founder Hal Rosser is leaving to hang his own shingle, alongside two other BRS employees.
Rosser co-founded the firm in 1995, alongside two other ex-members of Citicorp Venture Capital (a fourth partner was added later, but not to the masthead). In a statement, Rosser said:
“Founding my own firm is a long-time dream and this is the right time to pursue it. BRS accomplished a significant amount in 2010 despite what continues to be a very challenging market and economy. I am fully confident that the firm will continue to be highly successful under Bruce, Steve and Tom’s leadership and I will continue to be a substantial investor in the firm. I cherish the fifteen years we worked together to build BRS and I wish the team all the best. I look forward to investing with BRS in the future.”
The firm added that it has no plans to change its name…