Private equity pioneer Guy Hands to leave Terra Firma ‘when I’m 64’

Dealmaker and ardent Brexit critic to leave senior posts at firm he founded more than 20 years ago

Private equity tycoon Guy Hands referenced a Beatles song as he informed staff of his decision to leave the buyout firm he founded two decades ago.

The billionaire dealmaker told staff on Friday he would leave the posts of chairman and chief investment officer at Terra Firma Capital Partners in August, drawing to a close a high-profile, chequered career.

Continue reading...

Tory backer says UK economy is ‘frankly doomed’ without Brexit renegotiation

Guy Hands says Conservatives are putting country ‘on a path to be sick man of Europe’

The billionaire businessman Guy Hands has accused the Conservatives of putting the UK “on a path to be the sick man of Europe”, as he issued a series of stark predictions about what could lie ahead for the post-Brexit economy, including higher taxes and interest rates and fewer social services.

The founder and chair of the private equity firm Terra Firma, a longtime Tory supporter, called for the government to renegotiate Brexit, stating that otherwise the British economy was “frankly doomed”.

Continue reading...

The foreign royals and billionaire tax exiles collecting UK’s furlough millions

Read the list of super-rich claimants, from Saudi princes to Dubai monarchs, tax exiles to the UK’s richest

Glympton Park is a sprawling, 2,000-acre estate featuring an 18th-century stately home, nestled in the verdant Oxfordshire countryside near Woodstock.

It was bought for £8m in 1992, by Prince Bandar bin Sultan bin Abdul Aziz al-Saud, the senior Saudi royal whose past roles include ambassador to the US. He is said to have spent £42m on renovations, including a pheasant shoot and bullet-proof glass on the driveway to thwart would-be assassins.

Continue reading...