Snow Phipps Partners Form New Buyout Firm Without Snow at Helm

Three partners from private equity firm Snow Phipps Group LLC are starting over, reducing co-founder Ian Snow’s role and taking the entire company with them to a new venture.

Co-founder Ogden Phipps II said in an interview that he’s forming a new firm with longtime colleagues Alan Mantel and John Pless. Phipps and Pless, both 43, and Mantel, 57, will be managing partners of the new company, which will oversee the assets still owned by the first three Snow Phipps funds. The entire employee base will move to the new firm, which will remain at Snow Phipps’s office ...