Operations
The firm is not a hedge fund, but focuses on making controlling equity investments in manufacturing and industrial companies. Many of its investments "involve creating new companies" that buy underperforming assets, such as "companies operating in bankruptcy or in default of obligations to creditors", or otherwise with a history of "recurring operating losses". [14] KPS is a global firm headquartered in New York City with offices in Frankfurt and Amsterdam that invests in both North American and European-headquartered companies. The KPS Funds' portfolio companies currently have assets under management worth $12 billion, operate 158 manufacturing facilities in 22 countries, and have approximately 32,000 employees. [15] [16] In 2019, KPS Fund V, the firm's active flagship fund, had $15 billion of investor demand for a $6 billion fund." [2] [17]
The Financial Times noted that, while private equity firms often have a bad reputation for stripping assets and slashing jobs when buying distressed companies, KPS has established a reputation for constructive relationships with the workforce and their unions. [18] In 2009, Psaros estimated that he had saved about 20,000 jobs. [18] Unions also have appreciated that KPS uses little or no debt in its deals and have called in KPS to save companies. [18] KPS has worked with large manufacturing and industrial unions, having a "history of consulting workers" as noted by AFL-CIO. In Europe, KPS has established relationship and Framework Agreements with the German unions IG Metall and IG BCE. [19] [20]
The Carlyle Group Inc. is a multinational private equity, alternative asset management and financial services corporation based in the United States with $376 billion of assets under management. It specializes in private equity, real assets, and private credit. It is one of the largest mega-funds in the world. In 2015, Carlyle was the world's largest private equity firm by capital raised over the previous five years, according to the PEI 300 index. In the 2023 ranking however, it had slipped to fifth place.
Blackstone Inc. is an American alternative investment management company based in New York City. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate. Blackstone is also active in credit, infrastructure, hedge funds, insurance, secondaries, and growth equity. As of June 2023, the company's total assets under management were approximately US$1 trillion, making it the largest alternative investment firm globally.
TPG Inc., previously known as Texas Pacific Group and TPG Capital, is an American private equity firm based in Fort Worth, Texas. The firm is focused on leveraged buyouts and growth capital. TPG manages investment funds in growth capital, venture capital, public equity, and debt investments. The firm invests in a range of industries including consumer/retail, media and telecommunications, industrials, technology, travel, leisure, and health care.
Providence Equity Partners L.L.C. is a specialist private equity investment firm focused on media, communications, education, and technology investments across North America and Europe. The firm specializes in growth-oriented private equity investments and has invested in more than 170 companies globally since its inception in 1989.
Apax Partners LLP is a British private equity firm, headquartered in London, England. The company also operates out of six other offices in New York, Hong Kong, Mumbai, Tel Aviv, Munich and Shanghai. As of December 2023, the firm had raised and advised funds of approximately $65 billion (USD). Apax Partners is one of the oldest and largest private equity firms operating on an international basis.
CVC Capital Partners is a Luxembourg-based private equity and investment advisory firm with approximately US$155 billion of assets under management and approximately €157 billion in secured commitments since inception across American, European and Asian private equity, secondaries and credit funds. As of 31 December 2021, the funds managed or advised by CVC are invested in more than 100 companies worldwide, employing over 450,000 people in numerous countries. CVC was founded in 1981 and, as of 31 March 2022, has over 650 employees working across its network of 25 offices throughout EMEA, Asia and the Americas.
In finance, the private-equity secondary market refers to the buying and selling of pre-existing investor commitments to private-equity and other alternative investment funds. Given the absence of established trading markets for these interests, the transfer of interests in private-equity funds as well as hedge funds can be more complex and labor-intensive.
Thomas H. Lee Partners, L.P. is an American private equity firm headquartered in Boston. The firm focuses on investing in middle market growth companies across various sectors, including financial technology, services, healthcare, technology, and business solutions.
Apollo Global Management, Inc. is an American private equity firm. It provides investment management and invests in credit, private equity, and real assets. As of 2022, the company had $548 billion of assets under management, including $392 billion invested in credit, including mezzanine capital, hedge funds, non-performing loans, and collateralized loan obligations, $99 billion invested in private equity, and $46.2 billion invested in real assets, which includes real estate and infrastructure. The company invests money on behalf of pension funds, financial endowments, and sovereign wealth funds, as well as other institutional and individual investors.
Graphite Capital is a private equity firm focused on mid-market leveraged buyout investments, primarily in the UK. The group manages around £1.2 billion for institutional investors, with the most recent fund raising over £500 million in 2018. Since 1991, the firm has backed almost 100 management teams through various investments.
Lexington Partners is one of the largest manager of secondary acquisition and co-Investment funds in the world, founded in 1994. Lexington manages approximately $55 billion of which an unprecedented $14 billion was committed to the firm's ninth fund, the largest dedicated secondaries pool of capital ever raised at the time.
AlpInvest Partners is a global private equity asset manager with over $85 billion of committed capital since inception as of December 31, 2022. The firm invests on behalf of more than 450 institutional investors from North America, Asia, Europe, South America and Africa.
BC Partners is a British international investment firm with over $40 billion of assets under management across private equity, credit and real estate in Europe and North America. Its global headquarters are in London. The firm invests across all industries. BC Partners was founded in 1986 and has offices in New York, Paris and Hamburg. Since inception, BC Partners has completed 113 private equity investments in companies with a total enterprise value of €145 billion.
Private equity in the 2000s represents one of the major growth periods in the history of private equity and venture capital. Within the broader private equity industry, two distinct sub-industries, leveraged buyouts and venture capital expanded along parallel and interrelated tracks.
HarbourVest Partners is a private equity fund of funds and one of the largest private equity investment managers globally. The firm invests in all types of private equity funds, including venture capital and leveraged buyout funds, and also directly in operating companies.
The Jordan Company (TJC) is a private equity firm focused on leveraged buyout and management buyout investments in smaller middle-market companies across a range of industries.
Metalmark Capital, formerly Morgan Stanley Capital Partners is a private equity firm focused on leveraged buyout investments in middle-market companies across a range of industries. Metalmark was acquired by Citigroup Alternative Investments in December 2007.
Riverstone Holdings is a multinational private equity firm based in New York City focused on leveraged buyout, growth capital, and credit investments in the energy industry and electrical power industry sectors. The firm focuses on oil and gas exploration, midstream pipelines, electricity generation, energy and power services, energy and power technology, and renewable energy infrastructure and technology. Riverstone has raised approximately $41 billion since the firm's inception in 2000.
SS&C Technologies Holdings, Inc. is an American multinational holding company headquartered in Windsor, Connecticut, that sells software and software as a service to the financial services industry. The company has offices in the Americas, Europe, Asia, Africa and Australia.
Blue Owl Capital Inc. is an American alternative investment asset management company. It is currently listed on the New York Stock Exchange under the ticker symbol: "OWL".
