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Warburg Pincus Takes Another Loss –

London-based media and telecom specialist Dominic Shorthouse recently announced his resignation to partners at E.M. Warburg, Pincus & Co. This follows the departure of Doug Karp from the firm just last month (Buyouts, Sept. 11, p. 3).

Shorthouse was reportedly discontent over succession issues at the private equity firm, whereupon Lionel Pincus and John Vogelstein wanted to continue direct control of Warburg Pincus, and opted to resign year-end in pursuit of forming his own group to raise a European fund or a global telecommunications fund. Karp also reportedly left for the same reasons.

“He has decided to leave the firm but continues to assist us through year-end and beyond with several of his existing portfolio companies,” said Steve Schneider, a managing director at Warburg Pincus. Schneider refutes reports of Shorthouse’s discontent and said, “Dominic simply decided he wanted to do something new and presently hasn’t decided what that is. It is nothing specific or even general that even precipitated his decision to leave. He has the financial freedom and otherwise to consider making a career change.”

“From Warburg Pincus’ standpoint, he is an immensely talented individual and we’re sorry to see him go,” said Schneider. Shorthouse’s responsibilities will be divided up among six partners in Europe, which include Ed McKinley, Roberto Italia, Nick Lowcock, Jeremy Young, Melchior Stahl and Alf Grunwald.

The partnership continues to operate with 90 professionals and 41 partners. “Our turnover rate over the years has been quite low,” said Schneider. “There are no plans to replace Dominic.”

Other Warburg Pincus partners that have left the firm to join other firms include Joshua Lewis, Louis Elson, Michael Hoffman, and David Tanner.