Top 21 players in private equity

Top 21 players in private equity

The Rise and Success of Private Equity Power Players

PE-Powers

I have had the privilege of covering private equity and Wall Street for several years. Throughout my career, I have witnessed remarkable transformations and witnessed the rise of influential figures shaping the industry. From the groundbreaking IPO of Blackstone to the expansion of firms like BX, KKR, Apollo Global Management, Carlyle Group, and TPG into new sectors, these power players have redefined the field of private equity. Their success is evident, with Blackstone’s assets under management (AUM) surpassing the trillion-dollar mark in July. In response to their accomplishments, these firms have transitioned into public companies, demonstrating the industry’s evolution and its ability to adapt to change.

In a recent piece for ANBLE, I aimed to capture the essence of the private equity landscape today. I curated a list of 21 influential individuals who are currently shaping the industry. Diversifying the pool of talent has long been a challenge within the private equity realm. While our list spotlights a few male executives of color, such as Robert Smith and Orlando Bravo, as well as a handful of women, it is evident that greater diversity is still needed. A McKinsey & Co report from 2022 emphasizes that while private equity firms excel in hiring people of color for entry-level positions compared to corporate America, there is a significant gap when it comes to representation in the C-suite. The report reveals that women of color hold only 12% of C-suite positions in private equity firms, and men of color account for just 11%.

Notwithstanding a challenging year in 2022, the private equity industry remains massive. According to a report from professional services firm EY, companies owned by buyout shops, or the private equity firms themselves, employed a staggering 12 million individuals, earning a combined total of $1 trillion in wages and benefits. Prominent companies such as Airbnb, Uber, and Dunkin’ have all received backing from private equity firms. These statistics highlight the industry’s significant impact on the economy and its role in driving innovation and job creation.

As I reflect on the recent ANBLE article and the private equity landscape, I am astounded by the constant evolution and the demand for new talent. The response to my article has been overwhelming, with suggestions pouring into my inbox for the next iteration of this list. It is heartening to witness the enthusiasm and engagement of readers eager to contribute to the conversation and drive change within the industry.

Shifting our attention to the realm of deals, General Atlantic is expected to announce its acquisition of a stake in Financial Information Technologies (Fintech), a payments provider catering to the alcohol industry. TA Associates, the growth private equity firm, is relinquishing its share in this transaction. This purchase will value Fintech at approximately $1 billion, further evidencing the industry’s robustness and ability to cultivate lucrative investments.

To add a touch of humor to our exploration of the private equity landscape, we can now turn our attention to Term Sheet’s monthly cartoon by Ian Foley. The cartoon provides a light-hearted perspective on the industry and offers a moment of levity amidst the intricate deals and discussions.

As we conclude, I invite you to remain engaged in this dynamic discourse. Share your suggestions and voice your opinions as we continue to explore the ever-changing world of private equity. Together, we can shape the industry and foster a more inclusive and prosperous future.

See you tomorrow,

Luisa Beltran
Twitter: @LuisaRBeltran
Email: [email protected]
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Jackson Fordyce curated the deals section of today’s newsletter.

VENTURE DEALS

  • Nile, a San Jose-based enterprise networking solutions provider, raised $175 million in Series C funding. March Capital and Sanabil Investments co-led the round, joined by stc, Prosperity7, Liberty Global Ventures, 8VC, Geodesic Capital, FirstU Capital, and Valor Equity Partners.

  • Carbon Upcycling Technologies, a Calgary, Canada-based circular decarbonization solutions provider, raised $26 million in Series A funding co-led by Climate Investment and BDC Capital’s Climate Tech Fund.

  • Socket, a San Francisco-based supply chain attack detection software company, secured $20 million in Series A funding. The round was led by Andreessen Horowitz, with participation from Abstract Ventures, Unusual Ventures, and other investors.

  • HerMD, a Cincinnati-based women’s health provider, raised $18 million in Series A-1 funding. JAZZ led the round, joined by B-Flexion and Amboy Street Ventures.

  • Plerion, a Sydney, Australia-based cybersecurity company, raised $10 million in funding. Prosus Ventures led the round, with participation from Cercano and Atlassian Ventures.

  • GlassPoint, a New York-based solar thermal provider for industrial decarbonization, completed an $8 million Series A funding round. 300PPM led the round, with participation from former Australian prime minister Malcolm Turnbull and former Alcoa COO Tomas Sigurdsson.

  • FeelBetter, a Boston- and Tel Aviv-based medication management technology provider, received $5.9 million in funding. Firstime Ventures and Shoni Health Ventures co-led the round, joined by Random Forest VC, The Group Ventures, and Triventures.

  • Abbey Labs, a San Francisco-based identity and access management company, secured $5.25 million in seed funding. The round was led by Point72 Ventures, with participation from Haystack, Essence Ventures, and other angels.

  • Grasp, a London-based online learning platform, raised $4 million in seed funding led by Balderton Capital.

  • Béa Fertility, a London-based fertility tech startup, raised £2.5 million ($3.21 million) in funding. The round was led by Octopus Ventures, and saw participation from JamJar, Forward Partners, Calm/Storm, and Q Ventures.

  • CorralData, a New York-based data and analytics platform, raised $1.5 million in seed funding. The round was co-led by NY Angels, the NY Angels Fund, eonCapital, and Hilltop Ventures, with participation from Orange Ocean Ventures and Perimetre Capital.

PRIVATE EQUITY

  • Francisco Partners and TPG agreed to acquire New Relic, a San Francisco-based software provider, in a deal valuing the company at $6.5 billion.

  • Ayre Group is set to acquire a majority stake in nChain, a Zug, Switzerland-based blockchain technology and IP company, for $750 million. The deal includes an IP licensing agreement for Ayre Ventures portfolio companies and a line of credit.

  • BDT & MSD Partners will acquire a minority stake in IMA Group, an automatic packaging machines designer and manufacturer based in Bologna, Italy, from BC Partners. The Vacchi family will retain a majority stake in IMA Group. Financial terms of the deal were not disclosed.

  • MiddleGround Capital completed the acquisition of Xtrac, an automotive transmission systems manufacturer based in Thatcham, U.K. The financial terms of the transaction were not revealed.

  • One Rock Capital Partners acquired Constantia Flexibles, a Vienna, Austria-based packaging manufacturer, from Wendel. The financial details of the deal were not disclosed.

EXITS

  • Bobbie Baby acquired Nature’s One, a pediatric nutrition company based in Columbus, Ohio, from Juggernaut Capital Partners and Nature’s One founder Jay Highman. The terms of the deal were not disclosed.

IPOS

  • Birkenstock, a shoe manufacturer headquartered in Neustadt, Germany, and Novato, California, is considering an initial public offering that could raise approximately $8 billion. An earlier report suggested that the company plans to raise up to $6 billion for the IPO.

PEOPLE

  • Warburg Pincus, a New York-based investment firm, appointed Andrew Sibbald as managing director and co-head of Europe. Sibbald joins Warburg Pincus from Evercore.