Report: Dave Mosher Leaving Madison Dearborn

David Mosher is leaving Madison Dearborn Capital Partners after 17 years, as first reported by The Chicago Tribune. Mosher is a firm co-founder and managing director, who focused on investor relations and other non-investing activities.

The report quotes Mosher as saying the following in a letter sent last week to investors: “Investor relations, finance, IT, and legal were all areas for which I had main responsibility for years. We’re pleased to have staffed out each of these functions with exceptional people.”

Some of those replacements include Credit Suisse vets John Knutsen and David Pequet, who are serving as head of investor relations and vice president, respectively.

What is unclear, however, is whether Mosher’s resignation has anything to do with Madison Dearborn’s difficulty in raising its sixth fund. The firm began marketing in late 2007 with a $10 billion target, but later cut back expectations to $7.5 billion. It held a $4 billion first close around a year ago, but was still soliciting capital as of last week (according to what folks in Chicago told me).

I’ve put in calls to Mosher and a few folks close to Madison Dearborn, and will update this post if/when something concrete comes back.