TDR Capital Founders Hand Over Control After Two Decades (2)

TDR Capital’s founding partners are handing over the reins after spending about two decades building up the U.K. private equity firm.

Stephen Robertson and Manjit Dale will pass management to Gary Lindsay and Tom Mitchell, who will become managing partners, according to a letter sent to investors. Dale will become the firm’s chief investment officer, while Robertson will remain a member of TDR’s investment committee.

TDR has more than 10 billion euros ($11.3 billion) of committed capital, according to its website. It’s been behind some high-profile buyouts of British companies in recent years, including those of grocer Asda, ...