Moy Leaves Rockefeller Financial

Jeff Moy has left Rockefeller Financial after less than a year, several sources say.

It’s unclear why Moy exited Rockefeller. He joined the wealth manager, which is an LP of many PE funds, in August 2011. He was head of private equity and oversaw Rockefellers’ PE and VC investments.

Moy’s departure comes as Rockefeller has decided not to raise another fund-of-funds, a person says. PE fund-of-funds are coming under increased competition from separate accounts and consulting firms, one person says.

“PE fund-of-funds fundraising is probably the most difficult part of private equity, because everyone is moving to separate accounts,” the source says.

Rockefeller Financial, which has about $30 billion in assets under administration, is also undergoing some changes. In May, RIT Capital Partners, which is chaired by Lord Jacob Rothschild, acquired a significant minority stake, 37%, in the firm. RIT Capital reportedly paid €100 million to Société Générale for the holding.

With the deal, the two famous families plan to capitalize on their names to buy other asset managers or their portfolios, according to The Telegraph. Rothschild also has significant private equity operations.

Rockefeller, as a matter of policy, does not comment on former employees, a company spokesman told peHUB.

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