Earlier this week, Fortune reported that John Gilligan was leaving private equity firm Golden Gate Capital after a ten-year run. Tonight (yes, on a Saturday evening), Golden Gate sent word that he is not alone:
“Structural changes are in process at Golden Gate Capital, which will leverage current opportunities in the retail sector. After 10 years with the firm, Stefan Kaluzny has elected to pursue other interests and the partners of Golden Gate Capital wish him well. Led by founder and chief investment officer David Dominik, Golden Gate Capital’s team of more than 40 investment professionals is fully committed to continuing its historical track record of driving strong investment returns in all economic environments.”
Kaluzny has been with Golden Gate since its 2000 inception, and has served on such portfolio company boards as Eddie Bauer, J Jill, Express Inc., Zale Corp. and Orchard Brands (which filed for Chapter 11 bankruptcy this week).
No word yet on Kaluzny’s future plans, or who will lead Golden Gate’s retail practice going forward. I’m expecting that we’ll get some greater clarity early next week.
Last summer, Golden Gate co-founder Jesse Rogers and two longtime principals left to form a new firm called Altamont Capital Partners. Gilligan is leaving to join BDT Capital Partners, a Chicago-based private equity firm formed by ex-Golden Sachs banker Byron Trott.
[UPDATE: Kaluzny is forming his own firm]