Kamal Tabet, head of investor relations at Terra Firma, has left the firm after only 11 months.
According to a source at Terra Firma, Tabet left around a month ago. According to someone close to the situation, his departure was not for a specific reason, he simply “decided to move on”.
It is not known where Tabet has moved on to. He joined Terra Firma in June 2011 from Citigroup, where he worked for 14 years and rose to become global head of the Financial Entrepreneurs Group, and a member of its operating committee.
He was in charge of the entire investor relations team at Terra Firma and part of senior management.
The news comes shortly after the private equity firm, chaired by Guy Hands, invested the remainder of its third fund through the acquisition of care provider Four Seasons last month.
Rumours of Terra Firma's next fundraising have been circulating for months. However, with Fund III already spent, the lack of current fundraising activity indicates the firm might deploy a deal-by-deal approach until it launches an official fund.
In Hands' recent letter to investors, he highlighted new approaches to fundraising: “With the tough and crowded fundraising market of the last year, more GPs are now adopting proposals which bring about a greater alignment of GPs and LPs. A number have also come up with more imaginative ideas to improve alignment. Blackstone and The State of New Jersey deserve recognition for their innovative strategic relationship, as do Kohlberg Kravis Roberts, Apollo Management and The Teacher Retirement System of Texas for their own strategic partnerships. We can expect to see a substantial growth in such partnerships over the next few years.”