Riordan Lewis & Haden used a RIDEA partnership to achieve a cash return of more than 10x its investment, while retaining a significant minority stake in one of its healthcare portfolio companies, says PE attorney Chris Manderson.
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Pat Haden is leaving private equity firm Riordan, Lewis & Haden after 23 years, to become athletic director at his alma matter, the University of Southern California.
J. Christopher Lewis, co-founder and managing partner of RLH, says Haden had been courted by USC for only a short time. Haden, 57, reportedly turned down the offer twice before discussing the position with Lewis last Sunday. “This all happened very quickly,” Lewis says.
Haden, a partner at Riordan, starts at USC on Aug. 3. He will remain an investor in RLH funds and stay on the board of Apothecary Shops. He is expected to remain close to RLH, Lewis says. “But you have to be respectful that he will have a full time position that is very demanding and very high profile,” he says.