Financier Guy Hands Announces Retirement from British Private Equity Firm Terra Firma Capital Partners

Hands, who has been in the industry for over 20 years, will step down from his position as chairman and chief investment officer next month.

The move comes as one of the most significant departures in the British private equity industry.

Hands is known for his outspoken nature and at times controversial business decisions.

He founded Terra Firma in 2002, and through it, he acquired companies such as the record label EMI and the care homes operator Four Seasons Health Care.

However, in recent years, his investments have been made through the Hands family office, with Terra Firma failing to raise a new buyout fund after EMI was seized from it in acrimonious circumstances.

Hands has been an outspoken critic of Brexit and has expressed concern over the outlook for investment in Britain.

He moved offshore to Jersey nearly 15 years ago for tax reasons.

In his note to stakeholders, which was seen by Sky News, Hands stated that he would continue to be involved in the portfolio businesses of Hands Family Investments and in the legacy fund investment, Annington.

Annington, which owns thousands of homes used by the Ministry of Defence, is currently the subject of a legal row between the government and Terra Firma.

Despite his retirement, Hands will continue to be involved in the company.

Hands' departure from Terra Firma comes at a time when the private equity industry is facing challenges.

However, he leaves behind a legacy of innovative and successful deals that will continue to shape the industry for years to come.