Julie G. Richardson, a managing director at Providence Equity Partners and one of the most prominent female private equity executives, is cutting back on her responsibilities by becoming a senior adviser, the firm said on Tuesday.
During her nine years at Providence, Ms. Richardson led deals like the takeover of Altegrity, the security consulting firm, and took part in the leveraged buyout of SunGard Data Systems, a financial software maker.
She helped open the firm's New York office and, until assuming her new role, served as the firm's only female managing director.
Before joining in 2003, Ms. Richardson was a prominent banker at JPMorgan Chase, where she served as chairman of the telecommunications, media and technology group. She also previously worked at Merrill Lynch.
In her new role, Ms. Richardson will continue to provide advice to Providence's portfolio companies. Others who hold senior adviser roles at the firm include Richard D. Parsons, the former chairman of Time Warner and Citigroup, and Peter Chernin, a onetime president of the News Corporation.
“Julie has been a valued partner at Providence,†a spokesman for Providence said in an e-mailed statement. “We respect her decision to transition from full-time partner to senior advisor to focus on her family and other interests.â€
News of Ms. Richardson's new role was reported earlier by The Wall Street Journal online.
