Dallas has emerged as a thriving hub for private equity firms, with powerhouses like TPG Capital, Lone Star Funds, and Highland Capital Management calling the city home. These firms leverage Texas’s business-friendly environment, strategic location, and robust economic ecosystem to drive investment opportunities across diverse sectors. From technology to healthcare, Dallas provides an ideal landscape for private equity growth. Want to connect with industry leaders? Join our community at alexejpikovsky.com/community.
TPG Capital
Investment Style: TPG Capital focuses on leveraged buyouts, growth capital, and recapitalization investments. They invest across a diverse range of industries, including healthcare, technology, financial services, consumer products, and retail.
Portfolio Companies: Notable portfolio companies include Airbnb, Spotify, LifeStance Health, Cushman & Wakefield, and Chobani.
Founding Date: 1992
Number of Investment Professionals: Over 900
Assets Under Management: Approximately $135 billion
Key Investment Professionals:
- Jon Winkelried, CEO: Leads the firm’s strategic direction and oversees its investment processes, risk management, and firm operations.
- Jim Coulter, Co-Founder and Executive Chairman: Instrumental in developing TPG’s investment strategies and spearheading major transactions.
Recent Exits:
- LifeStance Health went public through an IPO, bringing substantial returns to TPG.
- Exited its position in Cushman & Wakefield through a public offering.
Recent Investments:
- Invested in direct-to-consumer health company Calibrate, focusing on personalized metabolic health.
- Partnered with DirecTV to drive its strategic initiatives and growth.
Office Locations:
- Fort Worth (Headquarters): 301 Commerce Street, Suite 3300, Fort Worth, TX
- Additional Offices: San Francisco, New York, Beijing, Hong Kong, London
Website: www.tpg.com
Quote: “At TPG, our philosophy is to partner with management teams to build sustainable businesses that deliver long-term value.” – Jon Winkelried, CEO
Lone Star Funds
Investment Style: Lone Star Funds focuses on distressed investments, leveraged buyouts, and value-oriented opportunities in real estate, equity, credit, and other financial assets.
Portfolio Companies: The portfolio includes companies such as Caliber Home Loans, Continental Building Products, and Stark Group.
Founding Date: 1995
Number of Investment Professionals: Over 100
Assets Under Management: Approximately $85 billion
Key Investment Professionals:
- John Grayken, Founder and Chairman: Drives the strategic vision of the firm and oversees investment activities globally.
- Andre Collin, President: Responsible for leading the day-to-day operations and managing the portfolio.
Recent Exits:
- Sold Caliber Home Loans via an IPO, marking a significant return.
- Exited Continental Building Products through a sale to CertainTeed.
Recent Investments:
- Acquired a significant stake in McCarthy & Stone, a UK-based retirement homebuilder.
- Invested in Yes Communities, a real estate company specializing in manufactured home communities.
Office Locations:
- Dallas (Headquarters): 2711 N Haskell Ave, Suite 1700, Dallas, TX
- Additional Offices: New York, London, Tokyo
Website: www.lonestarfunds.com
Quote: “Our strength lies in identifying undervalued assets and transforming them into valuable enterprises.” – John Grayken, Founder and Chairman
Highland Capital Management
Investment Style: Highland Capital Management specializes in credit strategies, including leveraged loans, high-yield bonds, and structured products. They also focus on alternative investments, such as private equity and special situations.
Portfolio Companies: Some of the companies in their portfolio include NexBank, Corner Bakery, and MGM Holdings.
Founding Date: 1993
Number of Investment Professionals: Over 150
Assets Under Management: Approximately $35 billion
Key Investment Professionals:
- Mark Okada, Co-Founder: Plays a crucial role in managing the firm’s investment processes and credit strategies.
- James Dondero, Co-Founder and President: Focuses on strategic direction and overall management of the firm.
Recent Exits:
- Exited their investment in MGM Holdings through a strategic sale.
- Sold a significant stake in NexBank to institutional investors.
Recent Investments:
- Acquired a stake in Corner Bakery, focusing on revitalizing its brand and operations.
- Invested in a distressed debt opportunity in the energy sector.
Office Locations:
- Dallas (Headquarters): 300 Crescent Court, Suite 700, Dallas, TX
- Additional Offices: New York, Buenos Aires, Seoul
Website: www.highlandcapital.com
Quote: “Our approach is to create value through disciplined investment strategies and a commitment to operational excellence.” – James Dondero, Co-Founder and President
Vista Equity Partners
Investment Style: Vista Equity Partners focuses on software, data, and technology-enabled businesses, emphasizing operational improvements and long-term value creation.
Portfolio Companies: Vista’s portfolio includes companies such as Finastra, Jio Platforms, and Ping Identity.
Founding Date: 2000
Number of Investment Professionals: Over 300
Assets Under Management: Approximately $93 billion
Key Investment Professionals:
- Robert F. Smith, Founder, Chairman, and CEO: Leads the firm’s investment strategies and operational improvements across portfolio companies.
- Brian Sheth, Co-Founder: Previously contributed to strategic investments and portfolio management.
Recent Exits:
- Ping Identity went public, bringing significant returns to Vista Equity Partners.
- Exited its stake in Solera Holdings through a strategic sale.
Recent Investments:
- Invested in Pluralsight, a technology workforce development company.
- Acquired a majority stake in Jio Platforms, focusing on digital transformation and technology advancements.
Office Locations:
- Austin (Headquarters): 401 Congress Ave, Suite 3100, Austin, TX
- Additional Offices: San Francisco, New York, Chicago
Website: www.vistaequitypartners.com
Quote: “We are committed to transforming companies into industry leaders by leveraging technology and operational expertise.” – Robert F. Smith, Founder, Chairman, and CEO
Thoma Bravo
Investment Style: Thoma Bravo specializes in software and technology-enabled services sectors, focusing on buyouts and growth investments, with a strong emphasis on operational improvements and strategic growth initiatives.
Portfolio Companies: Some of their portfolio firms include Dynatrace, SolarWinds, and Qlik.
Founding Date: 2008
Number of Investment Professionals: Over 200
Assets Under Management: Approximately $103 billion
Key Investment Professionals:
- Orlando Bravo, Co-Founder and Managing Partner: A key figure in shaping the firm’s investment strategy and executing major transactions.
- Carl Thoma, Co-Founder: Instrumental in the firm’s strategic direction and portfolio management.
Recent Exits:
- Dynatrace successfully went public, delivering substantial returns.
- Exited its investment in SolarWinds through a strategic sale.
Recent Investments:
- Acquired a significant stake in Coupa Software, focusing on spend management solutions.
- Invested in Medallia, a customer and employee experience management company.
Office Locations:
- Chicago (Headquarters): 150 N. Riverside Plaza, Suite 2800, Chicago, IL
- Additional Offices: San Francisco, Miami, New York
Website: www.thomabravo.com
Quote: “Our success lies in partnering with management teams to drive innovation and operational excellence.” – Orlando Bravo, Co-Founder and Managing Partner
Crestline Investors
Investment Style: Crestline Investors focuses on opportunistic and credit strategies, including private equity and special situations. They emphasize value-driven investments across various industries.
Portfolio Companies: Includes companies like AliveCor, a leader in personal ECG technology, and ProAg, a crop insurance provider.
Founding Date: 1997
Number of Investment Professionals: Over 75
Assets Under Management: Approximately $13 billion
Key Investment Professionals:
- Douglas Bratton, Founder and CIO: Guides Crestline’s investment strategy and oversees the firm’s investment processes.
- David Philipp, Managing Director: Focuses on credit and opportunistic investment strategies.
Recent Exits:
- Exercised a successful exit strategy with ProAg, delivering substantial returns to investors.
- Sold their stake in AliveCor following its acquisition by a strategic buyer.
Recent Investments:
- Invested in a distressed debt opportunity within the healthcare sector.
- Acquired a minority stake in a renewable energy company.
Office Locations:
- Fort Worth (Headquarters): 201 Main Street, Suite 1900, Fort Worth, TX
- Additional Offices: New York, London, Toronto
Website: www.crestlineinvestors.com
Quote: “Our investment strategy is centered around uncovering value in overlooked opportunities across diverse sectors.” – Douglas Bratton, Founder and CIO
ORIX Capital Partners
Investment Style: ORIX Capital Partners focuses on middle-market private equity investments, emphasizing operational excellence and strategic growth in various sectors, including industrials, business services, and healthcare.
Portfolio Companies: Includes companies like RoadSafe Traffic Systems and Hoffman Southwest Corporation.
Founding Date: 2016
Number of Investment Professionals: Over 25
Assets Under Management: Approximately $5 billion
Key Investment Professionals:
- Craig Lentzsch, Senior Managing Director: Leads the firm’s private equity strategy and manages portfolio operations.
- Terry Suzuki, CEO: Focuses on strategic initiatives and firm growth.
Recent Exits:
- Exited their investment in RoadSafe Traffic Systems through a strategic sale.
- Hoffman Southwest Corporation was acquired by a larger industry player.
Recent Investments:
- Invested in a provider of specialty rental equipment services.
- Acquired a stake in a leading industrial services company.
Office Locations:
- Dallas (Headquarters): 1717 Main Street, Suite 1100, Dallas, TX
- Additional Offices: New York
Website: www.orixcapitalpartners.com
Quote: “We strive to create value through strategic partnerships and operational excellence.” – Craig Lentzsch, Senior Managing Director
Align Capital Partners
Investment Style: Align Capital Partners focuses on control investments in growth-oriented lower middle-market companies. They emphasize strategic growth and operational improvements.
Portfolio Companies: Portfolio includes companies like Pleatco Holdings and Marco Rubber & Plastics.
Founding Date: 2016
Number of Investment Professionals: Over 20
Assets Under Management: Approximately $1.2 billion
Key Investment Professionals:
- Rob Langley, Managing Partner: Focuses on the firm’s investment strategy and portfolio management.
- Steve Dyke, Managing Partner: Responsible for sourcing and executing investment opportunities.
Recent Exits:
- Pleatco Holdings was sold to a strategic buyer, resulting in a successful exit.
- Exited their investment in Marco Rubber & Plastics through a sale to a private equity buyer.
Recent Investments:
- Invested in a cutting-edge precision machining company.
- Acquired a controlling interest in a specialty chemical manufacturer.
Office Locations:
- Dallas (Headquarters): 2101 Cedar Springs Road, Suite 2200, Dallas, TX
- Additional Offices: Cleveland
Website: www.aligncp.com
Quote: “Our goal is to partner with companies to drive sustainable growth and create long-term value.” – Rob Langley, Managing Partner
Crestview Partners
Investment Style: Crestview Partners focuses on the middle-market, investing in energy, financial services, healthcare, and media sectors. They emphasize collaborative partnerships and transformative growth strategies.
Portfolio Companies: Includes companies such as Camping World Holdings, Symbion Health, and NYDJ Apparel.
Founding Date: 2004
Number of Investment Professionals: Over 50
Assets Under Management: Approximately $10 billion
Key Investment Professionals:
- Thomas S. Murphy Jr., Co-Founder and Partner: Focuses on strategic growth initiatives and portfolio management.
- Robert Hurst, Co-Founder and Partner: Specializes in investments across various sectors and corporate governance.
Recent Exits:
- Camping World Holdings went public, providing significant returns.
- Exited Symbion Health through a strategic acquisition.
Recent Investments:
- Invested in a leading digital media company.
- Acquired a controlling interest in a specialty healthcare service provider.
Office Locations:
- New York (Headquarters): 590 Madison Avenue, 36th Floor, New York, NY
- Additional Offices: Dallas
Website: www.crestview.com
Quote: “We are dedicated to building companies through collaborative partnerships and strategic growth.” – Thomas S. Murphy Jr., Co-Founder and Partner
Conclusion
Dallas continues to be a vibrant hub for private equity firms, driving economic growth and transforming industries. The city’s dynamic landscape offers unique opportunities for strategic investments and value creation. As the market evolves, firms here demonstrate remarkable adaptability and vision in navigating complex financial terrains.
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