“Julie has been a valued partner at Providence. We respect her decision to transition from full-time partner to senior adviser to focus on her family and other interests,” the firm said in a statement. Richardson, 49, joined Providence Equity in 2003 and led the firm’s investments in SunGard Data Systems, SRA Internaitonal, Altegrity and eTelecare.
When Richardson joined Providence nearly a decade ago, Jonathan Nelson, Providence Equity’s CEO, asked her to establish a New York office for the firm, Buyouts has reported. From New York Richardson focused on investments in information services.
Her departure comes as Providence Equity nears wrapping up fundraising for its seventh fund. The pool will likely come to $5 billion, according to sister Web site peHUB.
Last year, Buyouts selected Richardson to be featured in an article on five powerful women in private equity. Richardson, in the story, said she couldn’t recall instances when her gender wasn’t anything but an advantage. “CEOs meet so many male private equity professionals,” she told Buyouts. “It’s easier for them to remember you and for you to make an impression.”
Before joining Providence Equity, Richardson was vice chairman of J.P. Morgan’s investment banking division and chairman of the firm’s TMT group. Richardson, prior to that, was a managing director at Merrill Lynch.