Alan Patricof, co-founder of private equity firm Apax Partners, announced today that he has left the firm and formed a new venture capital firm, Greycroft LLC. Mr. Patricof has been unwinding his management stake in Apax over the last three years, said Tom Johnson, Greycroft spokesman. Apax spokeswoman Laura Brightsen could not be reached by press time for information on a replacement.
Michael Barth was named managing director, global investment, at Darby Overseas Investments, the private equity and mezzanine arm of Franklin Templeton Investments. It is a new position, according to Nigel Adam, spokesman. Until November 2004, Mr. Barth was chief executive officer of Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden, a Dutch firm specializing in private investment in emerging countries. He was replaced at FMO by R. Arthur Arnold. Details about Mr. Barth's most recent position were not available by press time.