Electra Private Equity plans to recruit investment professionals after splitting from its long-standing investment manager, a person familiar with the matter has told FN's sister publication Private Equity News.

Electra split from its manager — which has since changed its name from Electra Partners to Epiris and spun out as a new buyout firm — in May. The separation came after activist investor Edward Bramson and Sherborne Investors Management took control of Electra in 2015 by winning the support of major shareholders.