Dowling steps down

Nick Morrill and Paul Cartwright are taking over as managing partners at Rutland Partners, as Chris Dowling steps down from his previous position. Dowling wishes to reduce his time commitment to Rutland’s future fund activities in order to develop a range of external interests.

Morrill and Cartwright, founder partners of Rutland, will share responsibility for the day-to-day operation of the business and will report jointly to chairman Michael Langdon. Dowling will remain directly involved in some of the partnership’s existing investments.

Rutland is an independent UK private equity firm that invests £10m to £40m in companies with a value ranging from £20m to £150m. The £210m Rutland Fund, which closed in March 2001, has invested £137m from its total. Rutland Trust is one of the principal investors.

Rutland’s partnership team consists of Langdon, Morrill and Cartwright, as well as partners Mike Harris and Jon Brooks. The partners have worked together for more than 10 years.