Terra Firma MD to depart

Alex Williams is leaving the UK buyout firm just a year after joining.

Terra Firma managing director Alex Williams is leaving the firm just one year after being appointed as part of a restructuring of the senior management team, Private Equity International has learned.

The London-headquartered buyout firm confirmed Williams' departure. He is not believed to have a new role lined up.

Williams joined Terra Firma in April 2016 after seven years at energy investor First Reserve International Limited, according to an archived version of Terra Firma's website. Prior to First Reserve he was a director at London-headquartered 3i. At Terra Firma he focused on private equity investments in Europe and was a board member of a number of portfolio companies including Wyevale Garden Centres and Australian beef business Consolidated Pastoral Company.

Terra Firma has had significant changes at its senior management level in recent years. In March last year chief executive Tim Pryce stepped down and the firm brought in Andrew Geczy, a veteran of Australia & New Zealand Banking Group, Lloyds Banking Group and Citigroup. In April last year Williams was hired alongside Jyrki Lee Korhonen, who joined from Triton Advisers and Michele Russo, a Doughty Hanson and Lazard veteran.

In August Julie Williamson left after 20 years with the firm and in September the firm hired another managing director, Andrew Miller, formerly chief executive of Guardian Media Group.

Last year Terra Firma's vice- chairman Justin King told Private Equity International the firm was preparing to broaden its focus and execute direct secondaries and direct lending.

In November last year the firm sealed its first deal for four years when it acquired Welcome Hotels, a portfolio of German hotels.