Headlands loses partner amid slow fundraising

partnerdeparture

Francois Joly, a partner at Headlands Capital Management, left the firm late last year and joined the Qatar Abu Dhabi Investment Company as a director in funds and secondaries.

Joly could not be reached for comment. David Park, one of the co-founders of Headlands, confirmed Joly’s departure and new position to sister website peHUB. QADIC also could not be reached for comment.

Joly’s LinkedIn profile shows he joined QADIC in January. He worked at Headlands from September 2009 to December, according to his profile. Prior to Headlands, he worked as a director at Probitas Partners from 2005 to 2009, and before that, he was a senior director at Caisse de dépôt et placement du Québec.

Headlands was formed by Park and partner David Cost in 2006. The firm has been raising its Headlands Capital Secondary Fund since 2011 and does not appear to be close to its $200 million target. A series of Form D filings with the U.S. Securities and Exchange Commission shows the firm has gradually collected about $76 million since 2011.

Photo courtesy of Shutterstock.

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