Blackstone Group Brazil

Blackstone Group Buys 40% in Brazil Private Equity Firm

Blackstone Group has given a major endorsement to its private equity counterpart in Brazil. Blackstone announced that it will be investing $200 million in Pátria Investimentos, a private equity group in Brazil. That Blackstone Group has bought a 40% in a Brazilian private equity firm is a signal that Blackstone is joining other private equity groups to increase investments in Brazil. Blackstone Group now joins the ranks of Carlyle Group, Warburg Pincus, Advent International and Southern Cross investing in Brazil.

“Partnering with Pátria will enable Blackstone’s limited partners and advisory clients to benefit from the fast expanding business opportunities in the country,” said Stephen Schwarzman, Blackstone’s chief executive.

The investment is being made using Blackstone’s own balance sheet rather than third-party funds under management.

Local newspaper Valor Econômico said Blackstone would pay $200m for 40 per cent of Pátria, valuing the company at $500m.

Pátria, which has $3.7bn in assets under management and specialises in private equity, real estate, capital management and infrastructure, has had a strategic alliance with Blackstone since 2004 and expects to be incorporated into Blackstone’s structure. Source

Tags: Blackstone Group, Pátria Investimentos, Blackstone Group Pátria Investimentos, Pátria Investimentos stake, Blackstone Group investment in Pátria Investimentos, Pátria Investimentos investors

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Private Equity Compliance Survey

Most Private Equity Managers See New Rules as a Challenge

A recent survey found that the majority of private equity managers believe that complying with impending financial regulatory standards will be a challenge. Only 10% of the 110 private equity managers surveyed said that complying with the regulation would be a non-issue. 47% believe the regulation will be mildly intrusive and 43% expect that complying with the new financial regulation will be a time consuming and difficult process. This is not to mention the money that is required to comply with the regulation, a burden that could come at a difficult time if private equity firms continue to struggle through next year.

"While we don't know the precise form the pending regulation will take, many in the industry anticipate dedicating significant time and resources to this issue next year," said Shawn Hessing, national lead partner for KPMG's U.S. Private Equity group. "Most of the large PE funds already have significant compliance processes in place, but the expected greater oversight will likely require additional changes at many PE firms."

Biggest Challenges Facing PE Industry

Regulation was also named among the "challenges" facing the industry. When asked to name the "biggest challenge" facing the PE industry over the next 12 months, almost half (49 percent) of the respondents to the KPMG survey cited limited partner (LP) fundraising, followed by a tough IPO market (19 percent), proposed regulation (18 percent), financing (9 percent), and image of the industry (5 percent).

"Many of the PE executives in the audience called for an 'all of the above' response to the 'challenges' question, illustrating that the PE industry is at facing a number of critical issues now," said Hessing. "While the industry has been evolving over the last few years as a result of the financial crisis, the biggest changes could lie ahead, and we may see a very different PE landscape in a year or two." Source

Tags: private equity compliance, private equity compliance survey, private equity survey, private equity industry, private equity managers, private equity management

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Private Equity Higher Tax

PEGCC Leader Says "Game is Not Over" On Tax Increase

The head of the Private Equity Growth Capital Council (formerly the Private Equity Council) refuses to throw in the towel in the fight over raising taxes on private equity firms. As Senate Finance Committee Chairman Max Baucus (D. Montana) has reintroduced a bill with increases in carried interest tax rates, the PEGCC's president Doug Lowenstein told the audience at the Dow Jones Private Equity Analyst Conference that private equity firms still have a chance in negotiating the proposed tax increase. Lowenstein said that "We don't think the game is over."

It is "quite possible" that the carried interest tax issue would get wrapped into debate over the tax reform during the lame-duck session of the Congress after the November elections, Lowenstein said.

He also predicted the issue could come up as part of the tax reform debate, instead of as part of the unemployment benefit bill as proposed by Baucus.

Baucus reintroduced a bill this month that aims to address increasing tax revenue to pay for extending unemployment benefits. The new bill is more lenient than an older bill that the Senate voted down in June in terms of taxing carried interest as ordinary income instead of at the lower capital gains rate. It nonetheless would increase effective tax rates for carried interest--to about 34.8% for assets that have been held for shorter than five years, and 29.8% for those held for five or more years, according to Lowenstein. The new tax rates would come into effect on Jan. 1, 2011.

The bill will be the "starting point" for the debate, though it may not be the "ending point," Lowenstein said. "We don't think the game is over." Source

To get an introduction to efforts by private equity firms to frame the carried interest debate, see my Seeking Alpha article.

Tags: private equity investments, private equity carried interest, private equity taxes, private equity carried interest tax laws, carried interest law

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Private Equity Pensions

Private Equity May Suffer from Shift in Pension Funds

Many employers are closing pension funds to new members because of the increasing cost of maintaining the benefit. Instead, some employers will likely switch from a defined benefit pension scheme to a defined contribution scheme. The latter funds tend to avoid investing in private equity because members prefer more liquid investments. This is bad news for private equity funds, as traditional defined benefit pension funds are the biggest investors in private equity.

Financial News calculates that pension funds contribute 22% of the capital private equity funds raise each year and defined benefit schemes account for 90% of that money. So, a shift away from traditional pension funds could mean a huge problem for private equity firms but it seems very few private equity managers see this as a big issue today. Instead, managers are acknowledging this fundraising problem as something to deal with in the next ten years or so.

The funding hole is expected to become an issue because defined-benefit pension schemes, the largest backers of private equity, are approaching maturity. The size of the expected shortfall, calculated by Financial News, is based on pension funds’ $518bn commitment to private equity globally between 2005 and 2009, according to Preqin.

The data provider said pension funds account for about 22% of money raised by private equity houses each year and DB schemes make up an estimated 90% of those commitments. However, many employers have closed schemes to new members due to their soaring costs.

It is widely expected most DB pension schemes will be replaced by defined-contribution schemes, which typically invest little in private equity because their members generally favour more liquid asset classes.

Carol Kennedy, a senior partner at European fund of funds Pantheon, said the funding shortfall could hurt the buyout industry but firms had yet to address the issue.
She said: “It could be a brake on potential growth of the industry but it is a 10-year-plus problem. Many in the industry have their heads in the sand… Where are the alternative sources of funds as opposed to good old DB schemes?” Source

Tags: private equity pensions, private equity pension fund, private equity pension investments, buyout pension funds, defined benefit pension fund, defined contribution pension fund

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KKR Visma

KKR Visma Buyout

KKR Takes Control of Visma from HgCapital for $935 Mil

Kohlberg Kravis Roberts & Co. is set to buy control of the Norwegian business software company Visma from another private equity firm. KKR bought a 77% stake in Visma for nearly $1 billion from HgCapital, a European private equity group.

Kohlberg Kravis Roberts & Co. agreed to pay about 5.5 billion kroner ($935 million) in cash for a 77 percent stake in Norwegian business software maker Visma A/S.

The U.S. private equity firm is acquiring the stake from a group led by HgCapital, said Nic Humphries, chief executive officer of HGCapital, by phone. Intermediate Capital Group and Citi Private Equity are part of the group.

HgCapital, a London-based venture capital company that held 50 percent of Visma, is keeping an 18 percent stake, while management will hold the remainder, Humphries said.

KKR’s acquisition, its first in Norway, brings to 12 the number of technology companies in its portfolio, the New York- based company said in a statement. Oslo-based Visma’s profit has more than doubled since 2006 when HgCapital won a bidding war with Sage Group Plc, Britain’s biggest accounting software maker, that valued Visma at 4.3 billion kroner. Source

Tags: KKR Visma, KKR, Kohlberg Kravis Roberts and Co., KKR Visma Buyout, KKR Visma Acquisition, KKR Visma HgCapital buyout

Link to This Resource: KKR Visma

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Private Company Sale

Private Equity Sellout

Private Equity Firms Selling Off Portfolio Investments

Private equity firms are selling off portfolio investments at record pace this year. The potential taxing of carried interest by the US government has many buyout firms selling early in order to protect their management fees and receive the carry on the deal. According to Steve Costabile of Pinebridge Investments, it is the uncertainty over taxes that has private equity firms selling as soon as possible. The following video explains this private equity trend. If you are reading this via RSS or E-mail, click here to watch the video:

Want to watch more private equity videos? Click here.

Tags: private equity taxes, private equity carried interest, carried interest taxation, private equity tax, management fees tax, Steve Costabile, Pinebridge Investments

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Private Equity Fund Returns

Study Says Private Equity Funds Don't Outperform Market

A new study by a London Business School professor found that the majority of private equity funds did not outperform the market from 1980 to 2005. Chris Higson, a professor of accounting, "the balance of evidence we have describes an economy in which buyout investment creates some value on average but with enormous underlying variation." The top 25% of funds outperformed the public markets during this period, the other 75% of funds underperformed. The study does not include the mid-2000s boom or the recent crisis.

The majority of private-equity investors made "at best a market return" between 1980 and 2005, according to research by a London Business School professor.

Chris Higson, professor of accounting at the London Business School, compiled previous findings by academics on global returns from private-equity funds from 1980 through to the early 2000s. He said that the research found there was a significant split among private-equity investors. While the top 25% of funds outperformed the public markets during this period, the remaining 75% of funds underperformed.

Speaking at a conference in London earlier this week, Mr. Higson said that "the balance of evidence we have describes an economy in which buyout investment creates some value on average but with enormous underlying variation."

The professor, who also advises the U.K. Department for Business, Innovation and Skills, said he didn't take into account the mid-2000s private equity boom—or the following crisis—but said his research is reliable as these were "extraordinary periods." He added there is currently a debate among researchers over whether to "look at performance up to 2005 only or also including the crash." Source

Tags: private equity fund returns, private equity returns, what is the average return from a private equity fund, private equity funds, private equity investors, private equity funds versus market returns

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Forbes' Rich List

Private Equity Managers Included on Forbes' 400 Rich List

Forbes' 400 list of wealthiest Americans includes many representatives of the alternative investment industry. Among the 400 individuals were at least 61 hedge fund and private equity managers. George Soros of Soros Fund Management leads the alternative investment community with $14.2 billion. Stephen Schwarzman of Blackstone Group (BX) also made the list with $4.1 billion.

At least 61 alternative investments titans crowd this year’s Forbes 400 list of the wealthiest Americans. And the most well-off among them—the 18 that made Forbes’ top 100—for the most part got richer over the last year.

George Soros remains the richest hedge fund manager in the land with $14.2 billion, making him more than $1 billion richer than last year. Soros ranked 14th among America’s wealthiest. John Paulson came in second among alternatives billionaires with $12.4 billion, nearly doubling his total from last year to leapfrog Carl Icahn, Ron Perelman ($11 billion each) and James Simons ($8.7 billion) on the list.

SAC Capital Advisors’ Steven Cohen came in 32nd on the list with $7.3 billion, followed by Ray Dalio ($5 billion), Sam Zell ($4.4 billion), David Tepper ($4.3 billion), and Bruce Kovner and Stephen Schwarzman ($4.1 billion each). Source

Tags: private equity managers, private equity rich list, private equity 400 list of wealthiest Americans. private equity management, buyout firms, buyout managers, Carl Icahn, David Tepper, Sam Zell, Bruce Kovner, Stephen Schwarzman

Link to This Resource: Forbes' Rich List

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Mergers and Acquisitions in 2010

Mergers and Acquisitions - On the Road to Recovery?

Mergers and acquisitions face an uncertain near future, while activity has been relatively normal the number of 2010 mergers and acquisitions has been lower than what analysts projected. There has been a build up of deals in the pipeline this year and many analysts had expected a high number of mergers and acquisitions in 2010 after a rough previous two years. Those deals now seem to be going through in the second half of 2010. Mike Hogan, managing director for Harris Williams, talks in this video about the increasing pace of mergers and acquisitions. If you are reading this via RSS or email click here to watch this video:

The following video also talks about Mergers and Acquisitions 2010. Miller Tabak's David Joyce, Leerink Swann's Adam Berger and M&A Advisors' Roger Aguinaldo talk on Mergers and Acquisitions in 2010 and the road to recovery (click here to watch this video):

Tags: private equity mergers and acquisitions, mergers and acquisitions 2010, 2010 mergers and acquisitions, mergers and acquisitions deals

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Private Equity Hiring Process

Private Equity Firms Increase Difficulty in Hiring Process

Hedge funds and private equity firms have had their pick of the business school litter for years and now the hiring process is becoming more difficult. Every year, buyout shops have become more meticulous in their hiring, with more far trickier interview questions and even psychological evaluations.

"It's more and more each year," said J. Patrick Gorman, cofounder of iFind Group, a New York-based recruiting firm. "We've had clients ask for SAT scores from people who have been in the industry for 20 years."

Private-equity firms and hedge funds, which are typically smaller than banks and brokerages, have grown particularly -- some would say excruciatingly -- deliberate.

Todd Monti, managing partner of the private equity and venture capital practice at the Heidrick & Struggles search firm, said that until recently very few firms brought in third-party psychologists or hiring consultants. Today, between 10% and 15% of the candidates that he places are screened by such professionals, typically at the later stages. The wide-ranging and personal Q&As can take up to six hours.

"I view that as part of an evolution of our business," Monti said. "More and more firms really try to understand at a granular level how a candidate would fit in the institution." Read the whole article

Looking for an edge in advancing your private equity career? See our Private Equity Career Guide

Tags: private equity careers, private equity career guide, buyout career guide, private equity firms hiring, private equity career, private equity jobs, finding a private equity job

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Private Equity Internet

Private Equity Firm Purchases Internet Brands

Internet Brands Inc. has been bought by a private equity firm, Hellman & Friedman Capital Partners for $640 million. The company runs over 100 websites on an array of topics and was founded in 1998 and went public nine years later. Internet Brands was bought for $13.35 a share, a 47% premium.

Internet Brands doesn't advertise its websites, but names them to attract surfers looking for general information, such as gardens.com, doityourself.com, loan.com, mortgage101.com and ultimatecoupons.com.

The small company reported second-quarter revenue of $28.1 million, up 21% from a year earlier, and net income of $4.6 million, up 80%. The company also reported a 30% increase in unique visitor growth from a year earlier.

Idealab, a technology startup incubator that owns a two-thirds voting stake in Internet Brands, is backing the deal. The purchase is expected to close in the fourth quarter and comes as private-equity firms have been active on the merger-and-acq uisition front of late, both selling and buying assets. Source

Tags: private equity internet brands inc, private equity firm, internet brands incorporated buyout, buyout of internet brands, purchase of internet brands, internet company

Link to This Resource: Private Equity Internet

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Quickly Get a Private Equity Job

Find a Private Equity Job Fast

Five Tips to Quickly Get a Private Equity Job

Many professionals are eager to get into the private equity industry so a question I receive often is How to Quickly Get a Private Equity Job? The fastest method is not always the most productive, but I understand wanting to quickly enter the industry.

First, you should be cautious if you are only entering the industry because you do not have another job and that is why you are in a hurry. If this is the case, make sure that you really want to work in private equity. If this is not the case and you really just want to get a job in the industry as fast as possible, then here are five tips to getting a job quickly at a buyout firm.

To start you will need to make a list of firms you want to contact. If you have the money to spare, you can expedite this process by purchasing a private equity directory of firms and contact details. Or do your own research to find a few firms that are appealing to you and match your expertise and talents.

Narrow your list of buyout firms that are within traveling distance. Target these firms exclusively so that you can focus your efforts on a select number and not waste time trying to appeal to every firm you find. It's important to look realistically at firms and consider whether you would be happy living in the city or whether you'd be better off locating firms that are close by so that repeat interviews are not a problem.

Start courting these firms as fast as you can. Execution is key and each step in the process should be executed as fast as possible. Make your resume and edit it repeatedly in a single day or on the weekend and have it mailed out or delivered in person by Monday.

Don't be afraid to cold-call a firm. Cold-calling is a little nerve wracking especially if you don't work in PE and are a little nervous to talk with a buyout executive. You have to get over these reservations if you're going to work for the firm and advance your career.

Follow up after an interview or a contact. If you don't hear back from a prospect after a couple weeks or after the time the contact said to expect a call you should follow up. If they didn't choose you they may still give you a reason why that you can work on.

These are my top five tips for quickly working at a private equity firm. The emphasis in this article is on speed and execution in quickly finding a private equity job. But I have also written extensively on ways to find a job in private equity, these articles can be found in the private equity career guide.

Did you get a chance to read yesterday's article on entry level private equity jobs?

Tags: private equity career, private equity jobs, private equity career resources, how to find a private equity job, finding a private equity job, find a job in private equity, work in private equity, find a private equity job fast

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Entry Level Private Equity Jobs

Entry Level Private Equity Jobs | Analyst & Associate

If you're looking to work in private equity, it's likely that you have wondered, "What Are The Best Entry Level Private Equity Jobs?" This is a great question, and I have talked to this issue many times. Here are some of the best entry level private equity jobs out there:

Analyst: A common entry level job at a private equity firm is as an analyst. Typically, these professionals come from a job in finance (usually at an investment bank) where they worked as an analyst too. Still it is usually seen as a promotion or at least an opportunity to advance to a better position at a PE firm compared with analysts at investment banks.

As an analyst you will complete a variety of tasks, most importantly evaluating potential investment opportunities by completing valuations, identifying problems and potential in the company as well as completing due diligence on companies. In this position you will use highly sophisticated financial models to inform the private equity firm's decision to invest in the company. The analyst will also determine whether a potential investment fits with the buyout fund's portfolio based on the firm's financial statements.

Associate: An associate is the other typical entry level private equity job. Associates usually have a strong and often diverse background in addition to solid skills in financial analysis and valuation. Associates have a number of tasks that can range across all aspects of the deal-making process. An associate must have technical expertise in each area that the firm invests in to make competent decisions regarding investments. Of course, an associate must have the financial modeling skills that an analyst possesses, too. Additionally, an analyst will talk personally with clients and team members. Associates are often groomed on a partner-track so that eventually they will scale the ranks to the top of the company. Learn about the role of partner at a private equity firm here.

Associates should have highly developed skills in the following areas:

Technical skills- Firms often specialize in a certain sector or domain. An associate's responsibility is to gain expertize in that area.
Analytical skills- Associates must be able to understand business models, research and collect relevant data, and conduct an extensive analysis on potential investments. The top MBA programs prepare candidates for this area of the job to a small extent, but further self-preparation is recommended.
Interpersonal skills- Not only are interpersonal skills important for succeeding in the firm, a large part of a private equity associate's job is networking with contacts--from investors to service providers. Interpersonal skills are essential for success in the private equity industry

The analyst and associate are the two most common entry level private equity jobs although you may find specialized positions in the private equity firm, as well.

Have you looked through our complimentary Private Equity Career Guide?

Are you looking for private equity career videos? Check out Private Equity Career Paths and Private Equity Salaries

Tags: investments, private equity firm, private equity, management, contact, website, LP, group, news

Link to This Resource: Entry Level Private Equity Jobs

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European Union Private Equity Groups

European Union May Curb Asset Stripping

The European Union has been in heated talks over how best to regulate the hedge fund industry, but the private equity industry hasn't escaped the EU's attention. Now, private equity firms are facing curbs on asset stripping under the proposed Alternative Investment Fund Managers Directive. The proposal is aimed at stopping an alleged practice by private equity firms of stripping the assets of the companies they purchase and then selling those profitable assets at the cost of employee layoffs.

There are competing views on the effects of a private equity firm and the portfolio company's employment. Trade groups like the Private Equity Growth Capital Council (not surprisingly) argue against charges that private equity cuts employment. On the other hand, there is the view that Franz Munterfering, former German Minister of Labour and Social Affairs and vice-chancellor, bluntly states: “Some ﬁnancial investors don’t waste any thoughts on the people whose jobs they destroy”.

There was a need to find a "proportionate" way to require private equity groups to inform markets about their broad strategie, Reynders told reporters on the sidelines of a Financial Services Authority conference.

"I am sure, I am confident of reaching an agreement on that," he said.
"The second (issue) for private equity is to see how it's possible to have some anti-stripping rules because we have seen so many institutions in differnt countries with social consequences of some stripping of companies," Reynders said.

Private equity groups have been accused of acquiring companies and then stripping out and selling profitable assets at the expense of jobs.
The industry has said that it helps return ailing firms to sustainable profits and preserve employment. Source

Tags: private equity asset stripping, european union, asset stripping, stripping assets of a company, private equity assets, private equity employmnt

Link to This Resource: European Union Private Equity Groups

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Private Equity Consultants

How Private Equity Consultants Help Businesses Succeed

There is a misconception that private equity owners want to control their portfolio investments and directly manage the firm. Rather private equity firms often act like business consultants to their portfolio companies. Private equity firms typically do not want to want to act as a business owner or CEO of the company, instead the management tries to ensure that the company has the tools and management to improve performance.

The buyout team will try to put in place the best environment for the company's management team to succeed. Additionally, the private equity management and staff will look at a number of factors to improve performance: what is costing the company time and money, the efficiency of the management and employees, what assets could be trimmed or sold off, and other areas that can save the company money and make for a streamlined, efficient business. In this way private equity firms act more like an outside business consultant that works with the company long time and has a lot of capital to make massive improvements.

In my opinion, this makes a private equity consultant even more valuable than an outside business consultant who usually works short-term, gives an analysis and then leaves it to the company's management team to implement the suggested strategy. Private equity consultants operate as long term owners and have a vested interest in the success of the company and therefore will make sure that the management implements the changes, or they will take action to remove the inflexible management.

Tags: Private equity consultants, private equity business consultants, private equity consultant, private equity consulting, private equity company consultants, finding private equity consultants, what is a private equity consultant

Link to This Resource: Private Equity Consultants

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Private Equity Growth Capital Council

PEC Becomes Private Equity Growth Capital Council

The Private Equity Council has decided to change its name to the Private Equity Growth Capital Council and change its membership structure. In this article, I give a brief summary of the Private Equity Council and try to explain what is behind this transformation into the Private Equity Growth Capital Council.

The Private Equity Council (PEC) has always been a trade group for the larger buyout firms, the Carlyle Group and Blackstone Groups of the private equity industry. The Council was founded by several large buyout firms in 2007 and lobbies for its members which remained the biggest private equity firms in the world. While the Private Equity Council did not have an exclusive policy of only offering membership to large private equity firms, the Council charged dues that usually exceeded what small to midsize private equity firms could afford.

More recently, however, the Private Equity Council has changed its name to the Private Equity Growth Capital Council. This name change reflects a major transformation of the private equity trade group. The Private Equity Growth Capital Council has decided to make membership more feasible to small to midsize private equity firms by lowering its dues. Membership fees are now proportional to the size of the private equity firm. Annual dues range from $25,000 to $750,000; a range that may still be out of reach to small private equity firms with limited capital for lobbying and trade group expenditures.

To me, this move means two things: First, the Private Equity Growth Capital Council realized it could be making a great deal more annual revenue by being more inclusive. Second, regulations and changes in the industry do not only affect the top ten private equity firms in the world. Rather, there should be a trade group that voices the concerns of even the smaller private equity firms. The recent regulation and policy debates on private equity have reflected this reality.

The Private Equity Growth Capital Council now caters to a wider range of private equity firm clients that invest anywhere from mature to early stage companies and often have different capital structures and AUM. The Private Equity Growth Capital Council announced that it has more than doubled its membership with the addition of 18 new member private equity firms. Now, the total number of private equity firms is 30. According to the PEGCC:

Reflecting its expanded and diversified membership, the Private Equity Council has changed its name to the Private Equity Growth Capital Council and announced the addition of 18 new member firms, bringing total membership to 30.

“Private equity firms invest in a broad spectrum of businesses, from startups to mature companies, and they use varying capital structures to complete acquisitions," said PEGCC President Douglas Lowenstein.

"But they are united by a commitment to growing and strengthening portfolio companies. Our new members will help us better tell the story of how private equity investment delivers substantial economic benefits to companies of all types and sizes in virtually every state in this country. And our new name better conveys what private equity is all about: growing companies.”

Tags: Private Equity Growth Capital Council, What is the Private Equity Growth Capital Council, Private Equity Growth Capital Council members, Private Equity Growth Capital Council membership, Private Equity Growth Capital Council definition, Private Equity Growth Capital Council PEGCC, Private Equity Growth Capital Council private equity firms

Link to This Resource: Private Equity Growth Capital Council

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Top Venture Capital Firms

Top Ten Venture Capitalists

Top 10 Most Active Venture Capital Firms 2009-2010

People like to see rankings, it gives a sense of who is the best of the best and for almost any profession or area of expertise there is a ranking. I have provided a list of the top 10 private equity firms here. Still many readers are also interested in the top venture capitalists. I recently came across a list of the top ten most active venture capital firms in 2009-2010 based on investment activity.

Top 10 Venture Capital Firms

Venture Capital Firm Deals

New Enterprise Associates 59
Kleiner Perkins Caufield & Byers 52
First Round Capital 48
Polaris Venture Partners 37
Intel Capital 35
Sequoia Capital 34
Khosla Ventures 31
Benchmark Capital 31
North Bridge Venture Partners 29
InterWest Partners 28

Source

Entrepreneur has created a list of the top 100 venture capital firms.
You may also be interested in our list of the top venture capitalists in technology.

Tags: venture capital firms, most active venture capital firms, number of venture capital deals, venture capitalists, top venture capitalists, top ten venture capital firms, top ten venture capitalists

Link to This Resource: Top Venture Capital Firms

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How to Work in Private Equity

FAQ: How to Work in Private Equity?

As a new resource to this blog, I will be answering the frequently asked questions that I receive by e-mail each week. Today I am focusing on a common one, an student or financial professional says they want to know how to work in private equity. If you want to learn more about how to start a career in private equity, see our Private Equity Career Guide

Question: I want to know How to Work in Private Equity

Answer:
This is a complicated question because there are many ways to begin a career in private equity. Many professionals come from a career in a related industry such as investment banking, corporate finance, venture capital, etc. This path is typically that of someone who studied business in college and went straight to work in finance or business management. After a few years, this person decided that private equity is an attractive field because of the competitiveness and challenges in deal making and, of course, the compensation.

Others try a more direct route to the industry. These people know that private equity is where they want to work and they do not want to work elsewhere. In my experience, this is a much more difficult way to enter the industry. Private equity firms to hire a person with experience or proven talents to bring to the firm and who does not require a lot of training. For a rookie who has just graduated business school and is looking to make the jump to the "big leagues" without spending some time in the "minors", it's hard for a private equity employer to know whether the candidate is qualified or ready for a demanding job (forgive the baseball references). The firm does not want to spend a lot of time training a new hire only to see the professional quit after a year.

So, I recommend getting a good amount of experience working alongside private equity firms or in a related field. There are a few ways to get this experience.

You can devote 2-4 years at an investment banking firm or corporation and then use that experience to try to make the transition. This shows you can work in finance and have been a quality employee for the investment bank or corporation.
Try to land an internship with a private equity firm or venture capital firm. This is difficult, many firms would rather invest the time training an employee than an intern. But if you can get some work experience at a firm, you will be able to show future private equity employers that you are able to work hard and that you are familiar with the field. The firm you intern with may even take you on at a full-time position if you prove yourself.
Work for a service provider to private equity firms. I work with a hedge fund marketer who got his start with a service provider to hedge funds. He started out working unpaid to prove to the marketer that he could bring in money for clients, then he was hired full-time. This gave him experience working directly with hedge funds. After a year or two he had built a good list of contacts at hedge funds and was receiving job offers to work in-house for several hedge funds. The same goes for private equity firms. Working at a service provider to private equity firms is a great way to learn more about the industry and develop relationships with private equity firms that may hire you later on.
Consider a training or certification program. There are a few training programs out there that will help you develop some experience and knowledge of the industry so that you have something to show in an interview. This will also build your familiarity with the industry so you can talk confidently in an interview or when networking. To get information on our private equity training program, click here.

These are just some answers to how to work in private equity. Private equity professionals come from many different backgrounds and there is not necessarily one perfect path to a career in private equity. Hopefully this has given you some ideas on how to work in private equity.

If you want to learn more about how to start a career in private equity, see our Private Equity Career Guide

Tags: private equity, private equity career, how to work in private equity, answering how to work in private equity, faq, private equity jobs, a job in private equity, career in private equity, working in private equity

Link to This Resource: How to Work in Private Equity

http://privateequityblogger.com/2010/09/how-to-work-in-private-equity.html

Dodd-Frank Act Private Equity

Dodd-Frank Private Equity Fund Advisors

What Fund Advisors Need to Know on the Dodd-Frank Act

Both articles today are about congress and current legislation; first on the Dodd-Frank Act, second covering the Enterprise Value Tax. I know you're all probably "thrilled" to sift through the new regulations and laws, but these laws have a very important impact on private equity. Plus, I've found a quick complimentary guide explaining how the Dodd-Frank Act applies to private equity so you'll hardly have to read through the 2,300+ page law.

The Dodd-Frank Act will undoubtedly have a huge impact on the financial industry and specifically private equity. This legislation was the outcome of many months of deliberation in the House and Senate over how best to tackle the problems in the finance that led to the recession and the collapse of several large financial institutions. Whether the Dodd-Frank Act adequately addressed the issues is debatable, but the bill is now law and it is therefore imperative that private equity fund advisors understand the Act.

Fortunately, I came across the Grant-Thornton LLP guide to the financial overhaul: Financial reform: What private fund advisers need to know about the Dodd-Frank Act. This is a great 5 page overview of the Dodd-Frank Act and how it effects private equity. To obtain a free copy simply visit Grant Thornton website. The following is an excerpt from What private fund advisers need to know about the Dodd-Frank Act:

The central elements of the Act focus on regulating the financial services sector; these new regulations will likely mean significant changes in legal entity structures, corporate governance, operations and IT systems, risk management and internal control frameworks, tax planning, regulatory and public disclosures, and legal and compliance demands.

During the coming months, the onus will be on regulatory agencies, such as the SEC and Commodity Futures Trading Commission (CFTC), to define the specific rules implementing the Act’s provisions. Registered investment advisers, especially those with large amounts of assets under management (AUM) and who engage in derivatives and other high risk activities, will face increased regulation and scrutiny — namely, registration and examination by the SEC. In addition, even some smaller funds may be required to register.

Advisers and funds should be prepared for the enhanced disclosure and reporting requirements that come with the new regulations. In addition, funds that are classified as “major swap participants” (i.e., funds that maintain substantial positions in swaps), may be required to register with either the SEC of the CFTC and possibly both regulators. Read the full report

Tags: private equity law, private equity tax, tax on private equity, private equity legislation, private equity dodd frank act, dodd frank act impact, dodd frank act private equity, buyouts dodd frank act, dodd frank act compliance

Link to This Resource: Dodd-Frank Act Private Equity

http://privateequityblogger.com/2010/09/dodd-frank-act-private-equity.html

Enterprise Value Tax

Key Ally Turns on Private Equity over Enterprise Value Tax

You may recall Senator Max Baucus from the debates over health care and financial reform. He is the Democrat heading the Senate Finance Committee, and he has now shifted his position on a very important issue for private equity firms. Senator Baucus now seems to endorse passing the Enterprise Value Tax which more than doubles the taxes paid when interests in investment-management partnerships are sold.

This is a major flip-flop from a key congressional ally to private equity firms. The tax is estimated to cost buyout firms more than $6 billion in the next 10 years. The Enterprise Value Tax would stack on top of the already stiff tax on carried interest that will be cutting into private equity profits next year. But the Enterprise Value Tax could come into effect as soon as next month when legislators return from the recess and congress may vote on the Tax Extenders bill. Carried interest will be taxed at 20% starting Jan. 1 instead of the ordinary 15% capital gains tax and the industry is bracing for a hike to 35-41% in 2011.

One Senate source spoke of Sen. Baucus's switch to the NY Post, "I heard a couple of weeks ago he started pushing back on lobbyists who were trying to influence him on the enterprise tax," the Senate source said. The Post suggests maybe the change has to do with Steve Schwarzman, the private equity heavyweight, comparing President Obama to Hitler...

[the Enterprise Value Tax] would more than double the tax bite when moguls cash out of their PE firms, several sources told The Post.

The change of heart by Sen. Max Baucus, chairman of the Senate Finance Committee, could cost them a total of more than $6 billion in higher taxes over a decade, according to estimates.

The surrender of the anti-tax ground by Sen. Baucus comes as momentum builds in Washington to raise taxes.

"Baucus is the biggest problem on the enterprise tax," a partner at a large private equity firm said.

The PE industry has already braced itself for a doubling of its income tax in 2011 from the current 15 percent capital gains rate to the 41 percent ordinary income tax rate on most of the commissions they earn from buying and selling companies, or carried interest. The capital gains rate is scheduled to rise to 20 percent on Jan. 1. Source

Tags: private equity, taxes, private equity carried interest, enterprise value, what is enterprise value, enterprise value tax, tax on enterprise value, taxes buyout firms, buyouts tax, taxation, senator max baucus carried interest

Link to This Resource: Enterprise Value Tax

http://privateequityblogger.com/2010/09/enterprise-value-tax.html

SuperReturn Latin America 2011

SuperReturn Latin America Discount

PEBlogger Exclusive SuperReturn Latin America Discount

I try to go to private equity events and conferences as often as I can. An industry event is a great place to meet professionals face-to-face, expand your network, and learn even more about private equity than you already know.

That is why I am always looking to provide discounts to readers on the best private equity events. SuperReturn Latin America 2011 has agreed to give PrivateEquityBlogger.com readers an exclusive discount to the conference. Here's a little bit about the event.

In response to the phenomenal interest in Latin American private equity by international & regional LPs, SuperReturn Latin America shall take place on February 15-17 2011 in Sao Paulo, Brazil.

The event promises to continue SuperReturn’s unique ability to attract international pension funds, sovereign wealth funds, family offices and wealth managers who are already investing or looking to invest in the region. In addition, local pension funds and wealth managers have already started to confirm their attendance, meaning that fund managers will be able to network and mingle with a huge variety of LPs investing in the region.

Discount Code and Sign-Up Information

Email: info@icbi.co.uk Tel: +44 (0) 20 7017 7200 Fax: + 44 (0) 20 7017 7807

For 10% discount, quote VIP Code: FKR3A4LPEBLOG or visit the website here.

One of the members of the PEIG team is actually from Sao Paulo so there's a chance either I or someone on the team will attend the event. Hope to see you there!

To read more about Latin America Private Equity, see this summary report.

Tags: private equity latin america, latin america private equity, private equity firms in latin america, SuperReturn Latin America, ICBI, Latin American private equity firms, South America Private Equity

Link to This Resource: SuperReturn Latin America 2011

http://privateequityblogger.com/2010/09/superreturn-latin-america-2011.html

Private Equity Firm Index

List of More Than 1,000 Private Equity Firms

Often times I am contacted by people asking for a list of private equity firms. The following is my current list of over 1000 private equity firms that I put together along with the PEIG team.

I am offering this as a free resource although you may see companies charge for a list of private equity firms. If you would like to upgrade to the list of these private equity firms with all the contact details and information, visit Private Equity Directory.

This index of private equity firms is a valuable tool for those looking to attract private equity investments and grow a business, service providers searching for new clients, job seekers looking for a way to meet with private equity firms and for many other uses. If you would like to learn more about the Private Equity Directory and how it can help you and your business, see this article.

3i Group PLC
21 Investimenti
21st Century Group
2i Capital Group
3 Degrees Asset Management
3i Group
3TS Capital Partners
401 Capital Partners Inc.
a2b Investments
AAC Capital Partners
AAVIN Private Equity
Abraaj Capital
ABRY Partners
ABS Capital Partners
Acap Partners
Accel KKR
Accent Capital Partners
Accent Equity Partners
AccessTurkey Capital Group
ACI Capital
ACON Investments
Alta Partners
Actera Group
Actis Capital
Activa Capital
Acto Capital
Acuity Capital Partners
Admiralty Partners
Advantage Capital
Advantage Capital Partners
Adams Street Partners
Advent International Corporation
Advent Private Capital
Adveq Management AG
AEA Investors
Aegis Investment Partners
Admiral Capital Group
Aerostar Capital LLC
Affinity Equity Partners
Agio Capital Partners LP
Aheim Capital
Ahlstrom Capital Oy
AIF Capital
AIG Investments - Private Equity
Aisling Capital
Albion Investors LLC
Alchemy Partners
Aldine Capital
Aldus Equity Partners
Alerion Capital Group
Alfa Capital Partners
Alfred Street Partners
Alimansky Capital Group
Alinda Capital Partners
Allegiance Capital Limited Partnership
Allen Capital Private Equity
Alliance Mezzanine Investors
Aloe Private Equity
Alothon Group LLC
Alpha Capital Partners Ltd.
Alpine Investors LP
AlpInvest Partners
Alta Communications
Alta Growth Capital
Atalaya Capital Management
Altaris Capital Partners
Altor Equity Partners
Altus Capital Partners
AMB Capital - AMB Partners
American Capital
American Industrial Partners
Amfinity Capital LLC
Amicus Capital Partners Ltd.
Ampersand Ventures
Amplico Kapital
AnaCap Financial Partners
Ancor Capital Partners
Andell Holdings
Andlinger and Company Inc.
Angeleno Group, LLC
Angelo Gordon and Co.
Annex Capital Management LLC
Antares Capital Corporation
Anvil Capital LLC
Aozora Investment Co., Ltd.
AP Capital Partners
Apax Partners Worldwide
Apex Equity Partners
APG Partners
API Capital
Apprise Media
Aqua International Partners
Aquiline Capital Partners LLC
Arbor Investments
ARC China
Arcade Partners
Arcapita
Archer Capital
ARCIS Capital Ltd.
ArcLight Capital Partners
Arctas Capital Group
Ardshiel Inc.
Arena Capital Partners
Argantis
Argo Management Partners
Argonaut Partners
Argonne Capital Group
Argos Soditic
Argosy Partners
Argus Capital Partners
Ark Capital Management
Ark Investment Partners
Arlington Capital Partners
Arsenal Capital Partners
Arx Equity Partners
Ascent Equity Capital
Astorg Partners
Atlanta Equity
Atlantic Street Capital
Atlas Holdings
Atreides Capital LLC
AtriA Capital Partners
Atrium Private Equity
Auda Advisor Associates
Audax Group
Audubon Capital
August Equity
Aureos Capital Limited
Aurora Capital Group
Aurora Russia Limited
Austin Capital Partners
Autus Capital
Avalon Equity Partners
Avista Capital Partners
AXA Private Equity
Apollo Management
Apax Partners Ltd
AXA Private Equity
Axia Capital
Axiom Equity Partners
Azalea Capital
Azulis Capital
B.P. Marsh & Partners PLC
Babson Capital Management
Bachow and Associates
Baird Capital Partners
Baird Capital Partners Europe
Baker Capital
Ballast Point Ventures
Balmoral Advisors
Balmoral Capital
BAML Capital Partners
BankCap Partners
Banyan Capital Partners
Banyan Mezzanine Fund
Barclays Private Equity
Bard Capital Group
Baring Private Equity Asia
Baring Private Equity Partners - Latin America
Baring Private Equity Partners India
Bariston Partners, LLC
Barron Partners LP
Bassini Playfair and Associates
Bastion Capital Corporation
Battery Ventures
Bay City Capital Funds
Bay Grove Capital
Bay Hills Capital
Bayside Capital
BB & T Capital Partners
BC Partners
Beacon Group Investment Arm
Bear Ventures
Bedford Capital
Bedford Funding
Beechbrook Capital
Beecken Petty O'Keefe and Company
Behrman Capital
Belvall Capital
Belvedere Capital Partners LLC
Bencis Capital Partners
Benford Capital Partners
Berggruen Holdings, Inc.
Berkshire Partners
Bertram Capital
Berwind Corporation
Best Associates
BG Affiliates
BHC Interim Funding LP
BIA Digital Partners LP
Bindley Capital Partners
Birch Hill Equity Partners
Bison Capital
Bison Investments
Black Canyon Capital
Black Diamond Capital Partners
Black Eagle Partners LLC
Black Enterprise Greenwich Street Partners
Black Knight Partners LP
Blackbird Capital Group
Blackford Capital LLC
Blackstreet Capital
Blott Asset Management
Blue Canyon Capital
Blue Horizon Equity
Blue Point Capital Partners
Blue Ridge Investors
Blue River Capital
Blue Sage Capital
Blue Spring Partners
Blue Tip Energy Partners
Blue Wolf Capital Management
Bluestem Capital Partners
Blum Capital Partners LP
BNP Paribas Private Capital Group
Boathouse Communications Partners LLC
Bolder Capital, LLC
Bond Capital
Boston Ventures Management Inc.
Bow River Capital Partners
Bowmark Capital
BPE Private Equity Gmbh
Bradford Equities Management
Brait Private Equity
Branford Castle Inc.
Brantley Partners
Brass Ring Capital
Bravo Equity Partners
Brazos Private Equity Partners LLC
Bregal Capital
Brentwood Associates
Brera Capital Partners LLC
Bridge Industries
Bridge Street Capital Partners LLC
Bridgepoint
BridgeWest LLC
Brighton Partners LLC
Brockhaus Private Equity
Brockway Moran and Partners
Brookstone Partners
Brookwood Financial Partners
Bruckmann Rosser Sherrill and Co.
Brynwood Partners
Brysam Global Partners
BS Private Equity
Buckingham Capital Partners
Buerk Dale Victor LLC
Buffalo Capital Partners LP
Bunker Hill Capital
Burdette Capital Management
Butler Capital Partners
C3 Capital Partners LP
Cabot Square Capital
Cadent Energy Partners LP
Caffery Capital
CAI
Caisse de Depot et Placement du Quebec
Calera Capital
Callisto Capital LP
Caltius Equity
Calvert Street Capital Partners Inc.
Camden Partners Holdings LLC
Cameron Holdings Corporation
Canaan Natural Gas Management LLC
Candover Investments
Cape Natexis Private Equity Fund
CapEx, L.P.
Capital For Business Inc.
Capital Partners
Capital Point Partners Inc.
Capital Resource Partners
CapitalSouth Partners LLC
CapitalWorks LLC
Capitol Partners LLC
Capiton
Capricorn Holdings
Capvis Equity Partners
Cardinal Equity Partners
Cardinal Growth LP
Carlisle Enterprises LLC
Carousel Capital
Carson Private Capital
Carthage Capital Group
Cascade Investments LLC
Castanea Partners
Castle Creek Capital
Castle Harlan
Castle Island Partners LLC
Catalyst Acquisition Group LLC
Catalyst Investors
Catterton Partners
Cave Creek Capital Management LLC
CCMP Capital Advisors
CCP Equity Partners
CD Ventures
Cedar Creek Partners
Celerity Partners
Celtic Pharma Management LP
Centerfield Capital Partners
Central Valley Fund
Centre Partners Management LLC
Century Park Capital Partners
Cephas Capital Partners LP
Cequel III
Cerberus Capital Management LP
Chalker Energy Partners LP
CHAMP Private Equity
Champlain Capital Partners
Channelstone Partners
Charlesbank Capital Partners
Charter Oak Private Equity
Charterhouse Group Inc.
Chartwell Investments
Chatham Capital Partners
CHB Capital Partners
Cherington Capital
Cherokee Equity Holdings
Chestmoor Capital Management
Chicago Growth Partners
China Equity Links
ChinaVest Ltd.
Chrys Capital
Churchill Capital Mezzanine Finance
CI Capital Partners
CIC Partners
CID Capital
Cignal Ventures
Cinven
Cipio Partners
Circle Peak Capital
CITA Gestion
Citadel Capital
Citadel Capital Management Group
Citigroup Venture Capital International - CVCI
Citizens Capital
Citron Capital LLC
CIVC Partners
Clarion Capital Partners
Clarity Partners
Clayton Dubilier & Rice
ClearLight Partners
Clearview Capital
Clessidra Capital Partners
Climate Change Capital
Cloquet Capital Partners LLC
Close Brothers Private Equity
CM Equity Partners
CM Private Equity
CMIA Capital Partners
CMS Small Cap Private Equity
Cobalt Capital
CoBe Capital LLC
Code Hennessy and Simmons
Cognetas
Co-Investor AG
Colchester Capital LLC
Colonnade Capital
Colony Capital
Columbus Nova Private Equity Partners
Commerce Capital LP
Commonwealth Venture Funding Group Inc.
Communications Equity Associates
Compass Diversified Holdings
Concentric Equity Partners LP
Concert Capital Partners
Concourse Capital
Conduit Capital Partners LLC
Connell Limited Partnership
Convergent Capital
Convergent Investors
Copeley Capital
Cordjia Private Equity
Cordova Smart and Williams
Corinthian Capital Group LLC
Cornerstone Capital Holdings
Cornerstone Equity Investors LLC
Cornerstone Industrial Group
Cornerstone Investment Group LLC
Corsair Capital LLC
Cortec Group
Covalent Capital
Cowen Capital Partners
Cracken Harkey and Co.
Craig Capital Corporation
Crates Thompson Capital
Craton Equity Partners
Credit Agricole Private Equity
Creo Capital Partners
Cressey & Company
Crestview Partners
Crimson
Cross Capital Partners
CrossHarbor Capital Partners
Crosslink Capital
Crossroads Capital Partners LLC
CrownBrook Capital
Cruttenden Partners LLC
Crystal Capital
Crystal Ridge Partners
CVC Asia Pacific
D.E. Shaw Direct Capital
Dakota Capital Partners
Dania Capital
Darby Overseas Investments
Darwin Private Equity
Dauntless Capital Partners LLC
Dauphin Capital Partners
Davenport Resources, LLC
DCA Capital
Defi Gestion SA
Delany Capital Management
Delta Private Equity Partners
DeltaPoint Capital Management
DeMarseCo
Denargo Capital
Denham Capital Management
Desai Capital Management
Desco Capital Partners
Deutsche Beteiligungs AG
DFW Capital Partners
Diamond Castle Holdings
Diamond Creek Capital
Digital Power Capital LLC
Dimeling Schreiber and Park
Direct Capital
Dixon Midland Company
Dogwood Equity
Dolphin Capital
Dolphin Equity Partners
Dorset Capital Management
Doughty Hanson
Doyle and Boissiere
Draupnir LLC
Dubilier and Co.
Dubin Clark & Company
Duff Ackerman and Goodrich
Duke Forest Capital
Duke Street Capital
Dunedin
Dunrath Capital
Durham Capital Corporation
DW Healthcare Partners
Dyson Dyson Dunn
Dyson Dyson Dunn
Easton Capital Investment Group
Eastport Operating Partners
Eastward Capital Partners
ECI Partners
ECM Equity Capital Management
EDG Partners LLC
EdgeStone Capital Partners Inc.
Edgewater Capital Partners
EG Capital Group
Egeria
Egis Capital Partners
EGS Healthcare Capital Partners
Electra Private Equity
Element Partners
Elevation Partners
Elgner Group
Ellipse Capital
Elm Creek Partners
Eminent Capital Partners
EMP Global
Empire Investment Holdings
Encore Consumer Capital
Endeavour Capital
Endless LLP
Energy Capital Partners
Energy Investors Funds Group
Enhanced Capital Partners
Enterprise Investors
Entrepreneur Partners LP
Envest Ventures
Environmental Capital Partners
EOS Partners LP
EPIC Private Equity
EQT Partners
Equifin Capital Partners LLC
Equinox Capital Inc.
Equinox Investment Partners
equitrust AG
Equity International
Equity-South Partners
Escalate Capital Partners
Essex Woodlands Health Ventures
Ethos Private Equity
Eureka Growth Capital
Euroventures
Evercore Capital Partners
Evergreen Pacific Partners
Evolution Capital
Ewing Management Group
Excellere Partners
Exeter Capital Partners
Explorador Capital Management
Explorer Investments, SCR, SA
Exponent Private Equity
Fairfax Partners
Fairmont Capital Inc.
Falcon Investment Advisors LLC
Falcon Partners
Falconhead Capital
Family Capital Growth Partners
Farallon Capital Management LLC
FB Capital Partners
FCF Partners
FCP Investors
FdG Associates
Fenway Partners Inc.
Fenwick Capital Group
Ferrer Freeman and Company
Fidelity Capital Partners
Fifth Street Capital
Firemark Investments
First Analysis Corporation
First Atlantic Capital Ltd.
First Equity Group
First New England Capital
First Reserve Corp.
Flexpoint Ford
Florida Gulfshore Capital
Focus Equity Partners
Focus Private Equity Partners
Fog City Capital
Forest Capital Partners
Forrest Binkley and Brown
Forstmann Little & Company
Fort Washington Capital Partners
Forte Partners
Fortress Investment Group
Founders Equity
Francisco Partners
Freeman Spogli
Freestone Partners
FriedbergMilstein
Friedman Fleischer and Lowe
Friend Skoler
Frontenac Company
Frontier Capital
FTV Capital
Fulham and Company
Full Circle Investments
Fulton Capital LLC
G.L. Ohrstrom and Co.
Galen Partners
Gallagher Industries LP
GarMark Partners
Garnett and Helfrich Capital
Gates Group Capital Partners
GB (Gordon Brothers) Merchant Partners
GE Asset Management - International Private Equity
Gemini Investors
Gen Cap America
General Atlantic
Generation Partners
Genesis Park LP
Geneva Corporation
Genstar Capital LP
Gentsch Capital Partners LLC
GESD Capital Partners
GF Private Equity Group LLC
GFI Energy Ventures
Gilbert Global Equity Partners
Gilde Investment Management
GIMV
GIMV
Glencoe Capital LLC
Glenmount International
Glickman Capital
Global Innovation Partners - GI Partners
GMT Communications Partners
Goense Bounds and Partners
Goff Moore Strategic Partners LP
Golden Gate Capital
Goldman Sachs - Principal Investments
Goldner Hawn Johnson & Morrison
GoldStrike Capital
Golub Capital
Gores Group
GP Investments
Grail Partners
Granahan McCourt Capital LLC
Granite Creek Partners
Granite Equity Partners
Granite Hill Equity LLC
Granville Baird Capital Partners
Graphite Capital
Great Hill Partners
Great Point Partners
Greenbriar Equity Group
Greenpark Capital
Gresham LLP
Gresham Private Equity
Grey Mountain Partners
Greyrock Capital Group
Gridiron Capital
GrowthPath Capital
Gryphon Investors
GTCR Golder Rauner LLC
H & Q Asia Pacific
Haas Wheat and Partners
Haddington Ventures LLC
Hadley Capital
Hagerty Peterson and Co.
Hale Global
Halpern Denny and Co.
Halyard Capital
Hamilton Investment Partners LLC
Hammond Kennedy Whitney
Hampshire Equity Partners
Hancock Capital Management
Hancock Park Associates
HANNOVER Finanz Group
Hanover Investors Ltd.
Harbert Management Corporation - Private Capital
Harbour Group
HarbourVest Partners LLC
Harren Equity Partners LLC
Hart Capital
Harvest Partners LLC
Hastings Private Equity
Hawkesbridge Private Equity
HB Equity Partners LP
HBG Holdings
Headway Capital Partners
Healthcare Investment Alliance
HealthEdge Investment Partners
HealthPoint Capital
Heartland Industrial Partners LP
Heico Companies LLC
Helios Capital
Hellman & Friedman
Hemisphere Capital LLC
Heritage Partners
Herkules Capital
Hermes Private Equity
Hermis Capital
HgCapital
Hibernian Partners
Hicks Holdings LLC
HIG Capital Management
HIG Private Equity
High Bar Capital
High Ridge Capital LLC
High Street Capital
High Tech Private Equity
HighPoint Capital Management, LLC
Highstar Capital
Hilco Consumer Capital
Hilco Equity Partners
Hillcrest Capital Partners
Hispania Capital Partners LLC
HM Capital Partners
Hoak Capital Corporation
Hoak Capital Corporation
Holding Capital
Hony Capital
Horizon Capital
Horizon Holdings
Horizon Partners Ltd.
Hornet Capital LLC
Housatonic Partners
Houston Partners
HSBC Capital USA
HSBC Private Equity UK
Hudson Clean Energy Partners
Hudson Insurance Capital Partners
Hunt Private Equity Group
Hupomone Capital Partners
Huron Capital Partners LLC
Hypo Equity
Icatu Equity Partners
Iceni Capital
ICICI Venture
Icos Capital
ICV Capital Partners LLC
IDFC Private Equity
IDFC Private Equity
IK Investment Partners
IKB Private Equity
IMin Partners
Incyte Capital LLC
Independent Bankers Capital Fund LP
India Value Fund
IndOcean Chase Capital Advisers
Indofin NV
Industrial Growth Partners
Industrial Investors
Industrial Opportunity Partners LLC
Industry Capital
Inflexion Private Equity
Innova Capital
Insight Equity
Integral Capital Partners
Inter-Atlantic Group
Interlaken Capital
InterMedia Advisors LLP
Intervale Capital
Intracorp Capital LLC
Invest Equity
InvestAmerica Venture Group
Investcorp International
Investcorp Technology Partners
Investeco Capital
Invex Capital
Invision Private Equity AG
IO Capital
Ion Equity
Ironbridge Capital
Ironwood Capital
Irving Place Capital
ITC Holding Company
Ithmar Capital
Ivy Capital Partners
J. Burke Capital Partners
J.M. Galef and Company
J.W. Childs Associates L.P
J2 Partners
Jacobson Partners
JC Flowers and Co.
JC Flowers and Co.
Jefferies Capital Partners
Jefferson Capital Management LLC
Jefferson Capital Partners
JEN Partners LLC
JF Lehman and Company
JH Partners LLC
JHP Enterprises LLC
JHW Greentree Capital
JLL Partners
JMH Capital
JMI Equity Fund
JP Capital Partners
JPB Capital Partners
JS Private Equity
Juno Investments LLC
Jupiter Partners LP
Kachi Partners
KarpReilly
Kayne Anderson Capital Advisors LP
KCA Partners
Kelso and Company
Ken Fowler Enterprises Limited
Kenner and Company
Kennet Venture Partners Ltd.
Kensington Partners
Key Capital Partners
Key Principal Partners
Keystone Capital
Kidd and Company
Kilmer Capital Partners
Kinderhook Industries
Kirtland Capital Partners
KLH Capital
Koda Enterprises Group
Kohlberg & Company
Kohlberg Kravis Roberts & Co.
KPAC Solutions
KPS Capital Partners
KRG Capital Partners LLC
KSL Capital Partners
L Capital Partners
Lake Capital
Lake Pacific Partners, LLC
Lake Street Capital
Lakeview Equity Partners LLC
Langholm Capital
LaSalle Capital Group LP
Laud Collier & Company
Laurel Hill Capital Partners LLC
Lead Equities
Leeds Equity Partners
Lenox Equity Partners
Leon, Mayer and Co.
Leonard Green and Partners
Leopard Capital
Levine Leichtman Capital Partners
Lewis Hollingsworth LP
Lexington Partners
LFE Capital
Liberty Partners
Lightyear Capital LLC
Lime Rock Partners
Lime Rock Resources
Lincolnshire Management
Linden LLC
Lindsay Goldberg
Lineage Capital LLC
Linsalata Capital Partners
Linsalata Capital Partners
LINX Partners
Litorina Kapital
Littlejohn and Co.
LLR Partners
LNK Partners
Lombard Investments
Lone Star Funds
Long Point Capital
LongueVue Capital, LLC
Lovell Minnick Partners LLC
Lyceum Capital
Lynwood Capital Partners Inc.
M2P Capital
MacAndrews and Forbes Holdings
Macluan Capital Corporation
Madison Capital Partners
Madison Dearborn Partners LLC
Magnum Capital
Main Street Capital Holdings LLC
Main Street Resources
Mangrove Equity Partners
Marfin Investment Group
Markstone Capital
Marlin Equity Partners
Mason Wells
Maui Capital
Mava Capital
MBF Healthcare Partners LLC
McCarthy Group, LLC
McCown De Leeuw and Co.
McKenna Gale Capital
MCM Capital Partners LP
MedEquity Capital LLC
MediaWin and Partners
Mekong Capital
Mercantile Capital Group MCG
Mercapital
Merchant Equity Partners
Mercury Capital Partners
Merit Capital Partners
Merit Energy Company
Meritage Private Equity Funds
Meriturn Partners
Merlin Nexus
Metalmark Capital
Metapoint Partners
Mid Europa Partners
MidMark Capital
MidOcean Partners
Miradero Capital Partners, Inc.
Mistral Equity Partners
Miura Private Equity
MMC Energy, Inc.
MML Capital
Monomoy Capital Partners
Montagu Private Equity
Morgenthaler Partners
MSD Capital
MSouth Equity Partners
MTS Health Investors
MVP Capital Partners
Natural Gas Partners
Nautic Partners
Navigation Capital Partners
Navigator Equity Partners LLC
Navis Capital Partners
NBGI Private Equity
New Mountain Capital LLC
NewCastle Partners
NewWorld Capital Group
Next Capital
NORD Holding
Nordic Capital
Northstar Capital
Northwood Ventures
NPM Capital
Oak Hill Capital Partners
Octopus Private Equity
Odewald and Compagnie
Odyssey Investment Partners LLC
OFI Private Equity Capital
Olympus Capital Holdings Asia
Olympus Partners
Omninet Capital
ONCAP
One Equity Partners
Onex Private Equity
Ontario Teachers' Pension Plan - Teachers' Private Capital
OSO LLC
Otter Capital LLC
Pacific Equity Partners
Pacific Road Capital Management
PAI Partners
Paine & Partners
Paladin Capital Group
Palamon Capital Partners
Palladion Partners GMBH
Pantheon Ventures Ltd.
Parallax Capital Partners
Parcom Deutsche Private Equity
Park Avenue Equity Partners
Parthenon Capital
Partners Group
Pechel
Pegasus Capital Advisors LP
Pencarrow Private Equity Limited
Penfund
Penn Venture Partners LP
Penta Capital
Perfectis Private Equity
Permira Advisers Ltd.
Perseus LLC
Persimmon Tree Capital
Peterson Partners LP
Phoenix Equity Partners
Pi Capital
Pine Creek Partners
PINOVA Capital
Piper Private Equity
Platform Partners
Platina Finance Limited
Platinum Equity
Platte River Ventures
PNC Mezzanine Capital
Post Capital Partners
PPM America Capital Partners LLC
Primary Capital
Private Equity Partners
Prometheus Partners LP
Propel Investments
Prospect Partners LLC
Providence Equity Partners
Quad-C Management Inc.
Quadrangle Group LLC
Quadrant Private Equity
Qualitas Equity Partners
Quantum Energy Partners
Quartus
Quilvest SA
Rabobank Private Equity
Realza Capital
Red Diamond Capital
Reiten and Co.
Republic Financial Corp. PE Group
Revolution Capital Group
RFE Investment Partners
Ridge Capital Partners LLC
Rigel Associates LLC
Ripplewood Holdings LLC
Risk Capital Partners
Riverlake Partners
Riverstone Holdings
RJD Partners
RMB Capital Partners
Rockland Capital
RoundTable Healthcare Partners
Rutland Partners
Sagard Private Equity
Saratoga Partners
SCF Partners
Seaview Capital
Sentinel Capital Partners
Shoreline Capital
SHUAA Partners
Signal Equity Partners
SilkRoad Equity
Silver Lake Partners
Bain Capital LLC
Barclays Private Equity
Baring Private Equity
Blackstone Group
Brookstone Partners
The Carlyle Group
CCMP Capital Advisors
Cerberus Capital Management LP
Close Growth Capital
Cinven
CVC Capital Partners Ltd.
Electra Private Equity
EQT Partners
First Reserve Corporation
Fortress Investment Group
General Atlantic
Goldman Sachs Capital Partners
HarbourVest Partners
HM Capital
Huntsman Gay Global Capital
Icon Private Equity
InterMedia Partners
Leonard Green & Partners
LLR Partners
KKR Private Equity
Montagu Private Equity
Morgan Stanley Private Equity
NB Private Equity Partners
Permira Private Equity
PAI Partners
Platinum Equity
Providence Equity Partners Inc.
Silver Lake Partners
Silverfleet Capital
Siparex Group
Smedvig Capital
Souls Private Equity
Southfield Capital Advisors
Spectrum Equity Investors
SSM Partners
STAR Capital Partners
Starwood Capital Group
Steep Rock Capital
Stellican Ltd.
Sterling Investment Partners LP
Sterling Partners
Stirling Square Capital Partners
Stone Point Capital
Stratus Investimentos Ltda.
Summit Park Partners
Sun Capital Partners Inc.
SunTx Capital Partners
SV Investment Partners
Symphony Capital Partners
Symphony Technology Group
Syntek Capital AG
TA Associates
Talos Partners
Taros Capital
TCW/Crescent Mezzanine
TDR Capital
Technology Crossover Ventures
Tenaska Capital Management
Tennenbaum Capital Partners LLC
Terra Firma Capital Partners
The Blackstone Group
The Carlyle Group
Terra Firma Capital Partners
The Exxel Group
The Halifax Group
The Invus Group
The Jordan Company LP
The Sunday Group
Thoma Bravo
Thomas H. Lee
Thompson Street Capital Partners LLC
Tianguis Limited
TMG Capital
TorQuest Partners Inc.
TowerBrook Capital Partners LP
TPG Capital
Treacle Private Equity
Tregaron Capital Company
Triginta Capital
Truffle Capital
Tuninvest Finance Group
Turenne Capital
Two Rivers Associates
Unison Capital
Valedo Partners
Vendis Capital
Ventizz Capital Partners
Veronis Suhler Stevenson
Vestar Capital Partners
ViewPoint Capital Partners
Vintage Venture Partners
Vista Equity Partners
Vitruvian Partners
Vulcan Capital
Warburg Pincus
Wasserstein and Co.
Waterland Private Equity Investments
Wellspring Capital Management LLC
Welsh Carson Anderson & Stowe
Weston Presidio
Wincove Capital
Whitecastle Private Equity Partners
Willis Stein and Partners
Wise SGR SpA
WL Ross and Co. LLC
Wolseley Private Equity
Zeus Private Equity
Zurmont Finanz AG

Looking for the contact details on any of these firms? Visit Private Equity Directory for the contact details on every firm in this list.

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