Founder of Bertarelli family-backed UK investment business quits
Departure of Jon Little signals change of direction for Northill Capital
Fund industry dealmaker Jon Little has resigned as managing partner of Northill Capital, signalling a change in direction for the acquisitive UK investment business he founded nine years ago.
The business, which invests in boutique fund managers and has grown to $82.5bn of assets under management, is backed by the Swiss-Italian Bertarellis, one of Europe’s richest families.
Northill has spent the past few days informing its affiliate fund managers — which include Longview Partners, Capital Four and Securis Investments — of Mr Little’s decision to leave.
Mr Little, who built BNY Mellon’s international asset management division through a series of acquisitions to a $400bn business, will stay a partner at Northill until the end of the year. Mr Little said he had no immediate plans for when he leaves the business, but he retains his board position at Quilter, the wealth manager.
Gordon McNair, chief financial officer of the Bertarellis’ family office, has been tasked with recruiting a successor to Mr Little.
Northill was set up in 2010 to provide equity and seed capital to small investment companies, with a focus on slow growth. In March it completed its most recent acquisition, buying a majority equity interest in the $26bn Strategic Investment Group.
Ernesto Bertarelli sold his family’s pharmaceutical business, Serono, to Merck in 2007 for $13.3bn. He currently lives in Switzerland with his wife, the songwriter and former Miss UK Kirsty Bertarelli, who is Britain’s richest woman.