Former Dunedin director transfers carry

Jonathan Ma has left UK mid-market private equity firm Dunedin and transferred his portion of carried interest in Dunedin Funds II and III to other Dunedin executives.

Ma transferred his positions in the two funds to Dunedin chairman Simon Miller; senior partners Ross Marshall and David Williams; managing partner Shaun Middleton; partners Dougal Bennett, Nicol Fraser, Mark Ligertwood and Giles Derry; finance director Graeme Murray and investment directors Oliver Bevan, Nicholas Hoare and Simon Rowan, according to UK regulatory filings.

Dunedin Fund III closed on £300 million in mid-2013. The fund was oversubscribed, having exceeded its £250 million target. Fund II closed on £250 million in 2006, according to PEI’s Research and Analytics division.

Ma spent seven years at Dunedin, joining as an investment manager in 2007 and serving as chief operating officer from 2010 to 2012, according to his LinkedIn profile. He spent his last two years with the firm as an investment director.

He left in October this year to become chief operating officer of cloud software company Friend MTS in London. The firm confirmed Ma’s departure for the tech-focused venture.