Jon Moulton in 'amicable' split with Better Capital partner Mark Aldridge

Jon Moulton has appointed a former Capita executive to take the reins of his private equity group Better Capital after splitting from long-term business partner Mark Aldridge.

Simon Pilling, the former chief operating officer of the FTSE 100 group, will become chief executive officer of Better Capital, which owns a host of firms including fashion brand Jaeger and double-glazing firm Everest.

Aldridge resigned over the weekend. The split is amicable, according to people close to the group.

Moulton and Aldridge, a former BDO partner, were co-founders of Better alongside operations chief Nick Sanders in 2009.

Pilling joined in November last year and was handed responsibility for overseeing the running of the firm’s portfolio of companies in May.

Better runs a listed vehicle on the London Stock Exchange, which counts investors including BlackRock and Baillie Gifford as top shareholders.

Moulton was forced to answer questions from MPs earlier this year after the courier company he backed, City Link, collapsed into administration at the cost of 2,000 jobs.