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Johnson Leaving LGV

Adrian Johnson, chief executive at LGV Capital, the private equity investment unit of UK insurer Legal & General, is reported to be stepping down after almost 20 years at the group.

Johnson joined LGV Capital in 1989 after six years specialising in venture capital and project finance at listed global private equity house 3i. He was appointed chief executive of LGV in July 2000 after running LGV's French operations, later spun off as Cobalt, in the late 1990s.

The identity of Johnson's successor and the reasons behind Johnson's departure are as yet unknown.

LGV has made four exits in 2008 so far, three in the healthcare sector: Classic Hospitals, Verna Group and IDH, as well as holiday parks operator South Lakeland Group. LGV is also understood to be investigating interest for the sales of household cleaning products Jeyes and care homes operator Craegmoor Healthcare.

Source: Thomson Merger News