Bonhams government Alex Fortescue has died aged 55

Alex Fortescue, the managing companion of the London-based non-public fairness agency Epiris, which owns Bonhams, died final week, aged 55. He was on the public sale home’s board, representing Epiris, a Bonhams spokesperson says.

His demise was confirmed by Epiris in a assertion: “It’s with profound disappointment that we announce the demise of our pal, colleague and managing companion, Alex Fortescue, on Friday [17 May]. Alex was an distinctive particular person whose imaginative and prescient and ambition introduced out one of the best in these round him. His management has been instrumental in constructing the staff and agency of which we’re all immensely proud. We are going to sorely miss his vitality, his presence and his friendship.”

Fortescue reportedly died following “an incident whereas biking”. He’s survived by his spouse and three kids. Invoice Priestly has now been appointed Epiris’s managing companion.

Epiris wholly purchased Bonhams in 2018 for an undisclosed sum. Below its possession, Bonhams has pursued an growth technique of buying smaller, regional public sale homes similar to France’s Cornette de Saint Cyr, Rasmussen in Denmark and Skinner in New England. Final yr, stories emerged that Epiris was floating a sale of Bonhams at $1bn.

On the time of Epiris’s acquisition, Fortescue mentioned: “We’re thrilled to announce the acquisition of Bonhams, which is Epiris Fund II’s fourth funding. We’ve taken a selective strategy for the reason that fund was raised, and have been assembling a portfolio of thrilling investments, every of which inserts our transformative technique. Funding exercise ranges stay excessive and we look ahead to including additional to the portfolio on the applicable time.”