Phoenix was co-founded in 2001 by Hugh Lenon, Sandy Muirhead and James Thomas.
[1] The firm is a result of a spin-off of DLJ European Private Equity from Credit Suisse First Boston.
When Credit Suisse First Boston (CSFB) acquired DLJ in November 2000, the DLJ European Private Equity team spun off to form Phoenix Equity Partners.
[2] The firm's first fund as Phoenix Equity Partners was called the Phoenix Continuation Fund, which raised £250 million from investors it retained from DLJ European Private Equity.
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