Bridgepoint is preparing to launch a formal search to identify a new chairman to replace William Jackson, who has worked for the private equity firm since 1986, Sky News learns.
By Mark Kleinman, City editor @MarkKleinmanSky
Bridgepoint Group, the London-listed private equity firm which owns the fast-food chain Itsu and the Moto GP motorcycle racing series, is to kick off the search for a successor to William Jackson, its veteran chairman.
Sky News has learnt Bridgepoint is working with the headhunter Russell Reynolds Associates on a process to find a new chair.
One insider suggested Mr Jackson was likely to remain involved in Bridgepoint’s private equity investment activities even after he steps down as chairman, with the recruitment process unlikely to conclude for another 12 months.
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Mr Jackson joined Bridgepoint, which now manages roughly €25bn in assets, in 1986 as a graduate trainee.
He progressed through its ranks, eventually leading some of its most prominent buyouts, including the sandwich chain Pret a Manger and Dorna, the owner of Moto GP.
Among his other notable strategic decisions was the internationalisation of Bridgepoint’s operations across Europe, the US and into China.
He also diversified its business into credit and more recently infrastructure through the acquisition of ECP, a leader in investing in the energy transition.
The news that Bridgepoint is preparing to recruit Mr Jackson’s successor will be closely watched in the City, where leadership succession at large private equity businesses is heavily scrutinised.
When it formally gets under way, the search is expected to be led by Archie Norman, the Marks & Spencer chairman who serves as Bridgepoint’s senior independent director.
Bridgepoint listed on the London Stock Exchange in 2021, and currently has a market capitalisation of just over £2bn.
A Bridgepoint spokesman said there was not currently a search process under way for Mr Jackson’s successor.