John Veronis Leaves Veronis Suhler Stevenson


John Veronis announced today that he has “withdrawn” from Veronis Suhler Stevenson, the firm he co-founded over two years ago (originally an I-bank, now a PE/structured finance investment firm). He will continue to honor LP commitments to VSS funds, but will not participate in firm management going forward.

VSS raised $312 million in 2008 for its second mezzanine fund, and a $1.3 billion private equity vehicle in 2005.

 

PRESS RELEASE

John J. Veronis, Chairman and Co-Chief Executive, who co­founded the firm in 1981, has withdrawn from partnership in Veronis Suhler Stevenson (VSS), the private equity firm that invests buyout and mezzanine capital funds in the information, education, marketing services, and media and communications industries in North America and Europe. Since 1987, VSS has managed six private equity funds: four equity buyout funds and two structured capital mezzanine debt funds with capital committed exceeding $3 billion.

While John Veronis’s partnership interest has been redeemed by the firm, he intends to continue to fulfill his existing investment commitments to VSS funds as well to other funds in which he is a limited partner. John Veronis’s career to date reflects a rare combination of entrepreneurial successes in the broadly defined communications industry and in the financial worlds of investment banking and private equity.

Over the years, Mr. Veronis has developed and maintains worldwide relationships in the media, information and education industries and throughout the financial community. He has been preparing for his transition from VSS for many months. Accordingly, his withdrawal will allow him to devote more time to pursue a wide range of opportunities in the media, information and financial communities.

“I take enormous pride in the firm I helped to create,” said Veronis. “I am leaving behind an organization with a strong reputation and a group of experienced professionals. My withdrawal from participation in the firm, which effectuates a long-contemplated transition, is another step in the evolution of VSS, and I wish the firm and its partners and employees success in their future activities.”

Jeffrey T. Stevenson, who joined the firm in 1982, will continue to serve as the Managing Partner of VSS and its sponsored funds. John Suhler, who co-founded the firm with Mr. Veronis, continues as Founding Partner and President and will remain involved in the oversight and strategic direction of VSS.

“John Veronis and I founded VSS when media investment funds were years away from launch,” said Suhler. “We have had a wonderful and profitable experience together for nearly three decades. John has been a master at building and maintaining important relationships for VSS and he has been a positive force for me, our firm and funds, and the media industries we serve.”

Mr. Stevenson commented as follows: “John Veronis’s vision and guidance, his industry knowledge, and his strong relationships with industry leaders, have had a momentous impact on VSS and have provided the foundation for continued success and growth.”

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