Rhone Capital CIO Plans to Leave Firm at End of Year

Rhone Capital Chief Investment Officer Eytan Tigay is leaving the firm at the end of the year, according to people with knowledge of the matter.

(Bloomberg) — Rhone Capital Chief Investment Officer Eytan Tigay is leaving the firm at the end of the year, according to people with knowledge of the matter.

Investors have been informed of Tigay’s planned departure, the people said, asking not to be identified because the matter isn’t public. Tigay, who is based in New York, will become a senior adviser as of Jan. 1, and will serve on certain portfolio company boards and remain an investor in Rhone funds, one of the people said. The CIO function is set to be split among managing directors including co-founder Steven Langman, the person added.

A Rhone Capital spokesman declined to comment.

Tigay, a managing director at the private equity firm since 2007, has been its CIO since 2015 and serves on its executive committee. He has focused on backing companies in sectors including chemicals, packaging, energy services, consumer and general industrials, and is on the boards of Fogo de Chão, ASK Chemicals, Paragon Films and Wellbore Integrity Solutions.

Earlier this month, Rhone agreed to sell Fogo de Chão to Bain Capital, roughly five years after taking the restaurant chain private.

Founded in 1996 by former mergers-and-acquisitions bankers Langman and Robert Agostinelli, Rhone has made investments in companies such as coffee producer Illy and department-store operator Hudson’s Bay Co.

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