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Hicks Muse Europe formalises becoming an independent buy-out firm

Hicks Muse Europe has confirmed its formal separation from its US parent Hicks, Muse, Tate and Furst Incorporated. The only remaining affiliation between the two groups will be US boss John Muse's non-executive chairmanship of the European unit, now wholly managed by Lyndon Lea. The European unit will also be changing its name in due course.

The firm's statement said that separating the European and US businesses of Hicks Muse had been an ongoing process and its completion was not expected to have a significant impact on the operations of the businesses.

Lea said, 'The separation of our business from Hicks Muse is a natural next step in our evolution as a firm. We have received widespread support from our investors who expect us to continue to develop the strategy that we have implemented over the last seven years to generate attractive returns on their behalf.'

The European part of the firm had been the more active in recent years and pressure had been building internally for a greater degree of autonomy. It appears an arrangement reached last year to channel a bigger share of the returns generated by its investment activity had not been enough for the European team.

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