Providence’s Du Bey, Nsouli Leave as Firm Raises New Fund

Providence Equity Partners Inc. is losing two managing directors, adding to at least three top departures last year, as the buyout firm struggles to raise a new fund less than half the size of its predecessor.

Jesse Du Bey and Nadim Nsouli are leaving the Providence, Rhode Island-based firm to pursue other opportunities, according to an investor letter, a copy of which was obtained by Bloomberg News. Providence last year parted with managing directors Mark Masiello and Gustavo Schwed, while Julie Richardson, who helped start the firm’s New York office, stepped back to become a senior adviser.