Vestar Capital Partners, a private equity firm, is slashing jobs and shutting offices in Europe, The Wall Street Journal reports. The New York–based firm, which manages $7 billion, recently terminated 10 executives while shutting offices in Munich and Paris.
Over the last two years, the firm has cut down its international investment workforce by about 50 percent, from 58 to 33, as a result of downsizing in branches outside the U.S. Further, the company is floating a new fund likely to garner nearly $2 billion which is less than the $3.5 billion raised for its previous fund.
Click here for the story from The Wall Street Journal.
Click here for additional coverage from Private Equity Hub.