Alchemy Partners is postponing investment until 2011 and is considering a more traditional fundraising model as it seeks to reassure investors in the wake of co-founder Jon Moulton’s departure.

Two sources close to the UK buyout firm said it was expected to make no investments in the medium term while it focused on its existing portfolio. It might buy bolt-ons for its companies during this period, one said, and it would focus on improving its distressed debt and India operations.