San Francisco stands as a premier hub for private equity firms, with powerhouses like TPG Capital, Hellman & Friedman, and Francisco Partners calling the city home. These firms leverage the region’s robust tech ecosystem and entrepreneurial spirit to drive transformative investments across diverse sectors. From technology to healthcare, these private equity leaders are reshaping industries and creating substantial value. Interested professionals can explore more about this dynamic landscape and connect with like-minded leaders in the private equity community at alexejpikovsky.com/community.
TPG Capital
Investment Style: TPG Capital focuses on a diverse range of industries, including healthcare, technology, and consumer sectors. They aim to partner with management teams to drive transformation and growth, leveraging their operational expertise and strategic insights.
Portfolio Companies: TPG Capital’s portfolio includes Airbnb (online marketplace for lodging and tourism), Uber (ride-sharing technology platform), McAfee (cybersecurity), and Cirque du Soleil (entertainment company).
Founding Date: 1992
Number of Investment Professionals: Over 280
Assets Under Management: Approximately over $140 billion
Key Investment Professionals:
- Jon Winkelried, CEO: Provides leadership and strategic direction, focusing on long-term value creation.
- Jim Coulter, Co-Founder and Executive Chairman: Oversees major investment decisions, leveraging decades of industry experience.
- David Bonderman, Co-Founder: Offers strategic insights and guidance across TPG’s global investments.
Recent Exits:
- Spotify (via IPO), highlighting TPG’s success in supporting high-growth tech companies in reaching public markets.
- Par Pharmaceutical to Endo International for $8.05 billion, showcasing strategic execution in healthcare investments.
Recent Investments:
- Partnered with CAA (Creative Artists Agency) to support its growth and expansion in the entertainment industry.
Office Locations:
- San Francisco (Headquarters): 345 California Street, Suite 3300
- Additional Offices: New York, Fort Worth, London, Hong Kong, and more.
Website: www.tpg.com
Quote: “Our investment strategy is driven by a commitment to fostering operational excellence and innovation across our portfolio companies.” – Jon Winkelried, CEO
Hellman & Friedman
Investment Style: Hellman & Friedman focuses on large-scale equity investments in sectors like software, financial services, healthcare, industrials, and consumer products. Their investment approach emphasizes deep sector expertise and collaborative partnership with management teams to drive sustainable growth.
Portfolio Companies: Hellman & Friedman’s portfolio includes Genesys (customer experience software), Action (non-food discount retailer), and Grocery Outlet (extreme value grocery retailer).
Founding Date: 1984
Number of Investment Professionals: Over 100
Assets Under Management: Approximately over $140 billion
Key Investment Professionals:
- Patrick Healy, CEO: Leads the firm’s strategic direction, focusing on long-term value creation and investment performance.
- Philip Hammarskjold, Executive Chairman: Provides strategic oversight and guidance on key investments and firm initiatives.
- David Tunnell, Partner: Plays a critical role in the firm’s investment decisions and portfolio management processes.
Recent Exits:
- Exited Enverus, a leading energy SaaS company, through a strategic sale to private equity firm Genstar Capital.
- Successful IPO of Grocery Outlet, enhancing the firm’s reputation in the consumer retail sector.
Recent Investments:
- Invested in Checkmarx, a leading software security company, to support its innovation and market expansion.
- Acquired a significant stake in Sprinklr, a customer experience management platform.
Office Locations:
- San Francisco (Headquarters): 415 Mission Street, Suite 5700
- Additional Offices: New York, London.
Website: www.hf.com
Quote: “Our success is built on deep industry expertise, collaborative partnerships, and a commitment to driving operational excellence.” – Patrick Healy, CEO
Francisco Partners
Investment Style: Francisco Partners specializes in technology-focused private equity investments, targeting opportunities in software, healthcare IT, financial technology, and security. They focus on partnering with companies to unlock growth potential and drive operational improvements.
Portfolio Companies: Francisco Partners’ portfolio includes GoodRx (digital healthcare), LegalZoom (legal services technology), and NexTraq (fleet management software).
Founding Date: 1999
Number of Investment Professionals: Over 60
Assets Under Management: Approximately over $26 billion
Key Investment Professionals:
- Dipanjan Deb, Co-Founder & CEO: Drives the firm’s strategic growth and investment initiatives.
- David Golob, Partner & Chief Investment Officer: Guides investment strategy and oversees portfolio company performance.
- Ezra Perlman, Partner: Focuses on investments in the software and financial technology sectors.
Recent Exits:
- Exasol to public market via IPO, highlighting Francisco’s focus on high-growth tech companies.
- Sale of Bomgar to BeyondTrust, underscoring expertise in security technology investments.
Recent Investments:
- Acquired Consignor Group AS, a leading delivery management software provider in Europe.
- Invested in Vendavo, a pricing optimization software company, to boost its growth and competitive positioning.
Office Locations:
- San Francisco (Headquarters): One Letterman Drive, Building C, Suite 410
- Additional Offices: London.
Website: www.franciscopartners.com
Quote: “Our focus on technology allows us to identify unique opportunities and drive transformative growth for our portfolio companies.” – Dipanjan Deb, Co-Founder & CEO
Golden Gate Capital
Investment Style: Golden Gate Capital specializes in buyouts and growth equity investments across a variety of industries, including retail, industrials, and software. Their approach involves deep operational involvement and strategic transformation to create long-term value.
Portfolio Companies: Golden Gate Capital’s portfolio includes Red Lobster (casual dining seafood chain), Express (apparel retailer), and California Pizza Kitchen (restaurant chain).
Founding Date: 2000
Number of Investment Professionals: Over 90
Assets Under Management: Approximately $29 billion
Key Investment Professionals:
- David Dominik, Managing Director: Focuses on strategic value creation and portfolio company management.
- Josh Olshansky, Managing Director: Plays a significant role in investment decisions and strategic oversight.
- Rob Little, Managing Director: Leads the firm’s investments in the industrial and consumer sectors.
Recent Exits:
- Exited Eddie Bauer through a strategic sale to Authentic Brands Group.
- Sale of Clover Technologies Group to private equity firm Apollo Global Management.
Recent Investments:
- Invested in The Learning Experience, a leading provider of early childhood education services.
- Acquired Infor, a global ERP software company, to enhance its market presence and product offerings.
Office Locations:
- San Francisco (Headquarters): 1 Embarcadero Center, 39th Floor
- Additional Offices: New York.
Website: www.goldengatecap.com
Quote: “Our hands-on approach and deep industry expertise enable us to partner effectively with management teams to drive significant value creation.” – David Dominik, Managing Director
Genstar Capital
Investment Style: Genstar Capital focuses on middle-market private equity investments, primarily in the financial services, healthcare, software, and industrial technology sectors. Their approach is centered on active collaboration with management teams to drive growth and operational excellence.
Portfolio Companies: Genstar Capital’s portfolio includes Apex Group (global financial services provider), DrillingInfo (energy SaaS company), and Telestream (media and video software).
Founding Date: 2005
Number of Investment Professionals: Over 50
Assets Under Management: Approximately $35 billion
Key Investment Professionals:
- Ryan Clark, President & Managing Director: Oversees the firm’s investments and strategic growth initiatives.
- Jean-Pierre Conte, Chairman & Managing Director: Provides strategic guidance and leadership across the firm’s activities.
- Anthony Salewski, Managing Director: Focuses on investments in the software and industrial technology sectors.
Recent Exits:
- Sale of Apex Fund Services to the Carlyle Group, enhancing the firm’s reputation in financial services.
- Successful IPO of DrillingInfo, highlighting Genstar’s expertise in energy technology investments.
Recent Investments:
- Acquired a controlling stake in Telestream, a leading provider of digital media tools and workflow solutions.
- Invested in Advarra, a leading provider of regulatory compliance and clinical research services.
Office Locations:
- San Francisco (Headquarters): 4 Embarcadero Center, Suite 1900
- Additional Offices: None listed.
Website: www.gencap.com
Quote: “Our focus on building strategic partnerships with management teams drives our success in delivering exceptional investment outcomes.” – Ryan Clark, President & Managing Director
Thoma Bravo
Investment Style: Thoma Bravo specializes in software and technology-enabled services, focusing on buyouts and growth equity investments. They leverage deep industry expertise to drive operational improvements and strategic value creation across their portfolio companies.
Portfolio Companies: Thoma Bravo’s portfolio includes Instructure (education technology), Barracuda Networks (cybersecurity), and Sophos (antivirus and encryption).
Founding Date: 2008 (through a merger of Thoma Cressey and Bravo Strategies)
Number of Investment Professionals: Over 50
Assets Under Management: Approximately $122 billion
Key Investment Professionals:
- Orlando Bravo, Co-Founder & Managing Partner: Provides strategic direction and leadership across the firm’s investments.
- Holden Spaht, Managing Partner: Plays a critical role in investment decisions and portfolio management.
- Seth Boro, Managing Partner: Focuses on investments in software and technology-enabled services.
Recent Exits:
- Sale of Ellie Mae to Intercontinental Exchange for $11 billion, demonstrating Thoma Bravo’s strength in fintech investments.
Recent Investments:
- Acquired RealPage, a leading provider of software and data analytics to the real estate industry.
- Invested in Calypso Technology, a leading provider of cloud-enabled, cross-asset, front-to-back solutions for financial markets.
Office Locations:
- San Francisco (Headquarters): 600 Montgomery Street, 18th Floor
- Additional Offices: Chicago, Miami.
Website: www.thomabravo.com
Quote: “Our deep sector expertise and collaborative approach enable us to drive significant value creation for our portfolio companies.” – Orlando Bravo, Co-Founder & Managing Partner
Vector Capital
Investment Style: Vector Capital specializes in turnaround investments, buyouts, and recapitalizations, focusing on technology companies. They leverage operational expertise and strategic insights to drive value creation and transformation.
Portfolio Companies: Vector Capital’s portfolio includes Cambium Networks (wireless networking solutions), WatchGuard Technologies (network security), and Saba Software (cloud-based talent management solutions).
Founding Date: 1997
Number of Investment Professionals: Over 20
Assets Under Management: Approximately $4 billion
Key Investment Professionals:
- Alex Slusky, Founder & Chief Investment Officer: Guides the firm’s investment strategy and portfolio management activities.
- David Fishman, Managing Director: Focuses on technology investments and strategic value creation.
- Avalon Gates, Managing Director: Plays a key role in investment decision-making and operational improvements.
Recent Exits:
- Sale of Saba Software to Cornerstone OnDemand for $1.395 billion, showcasing expertise in cloud-based software.
- Cambium Networks to public market via IPO, highlighting success in wireless technology investments.
Recent Investments:
- Invested in Aspect Software, a leading provider of enterprise contact center and workforce optimization solutions.
- Acquired a stake in Emarsys, a cloud-based marketing platform, to drive growth and market expansion.
Office Locations:
- San Francisco (Headquarters): One Market Street, Steuart Tower, Suite 2400
- Additional Offices: None listed.
Website: www.vectorcapital.com
Quote: “Our focus on transformation and operational excellence allows us to drive significant value in technology investments.” – Alex Slusky, Founder & Chief Investment Officer
GI Partners
Investment Style: GI Partners focuses on investments in real estate, healthcare, and technology sectors, targeting opportunities for growth and operational improvements. They emphasize value creation through strategic guidance and industry expertise.
Portfolio Companies: GI Partners’ portfolio includes Flexential (data center and cloud services), Consilio (legal services technology), and Generate Capital (sustainable infrastructure).
Founding Date: 2001
Number of Investment Professionals: Over 50
Assets Under Management: Approximately $35 billion
Key Investment Professionals:
- Rick Magnuson, Executive Managing Director: Provides strategic leadership and investment oversight.
- Tracy Price, Managing Director: Focuses on investments in the healthcare and technology sectors.
- Steve Smith, Managing Director: Plays a key role in real estate investment strategies and value creation.
Recent Exits:
- Exited SoftLayer Technologies through a strategic sale to IBM, showcasing expertise in data center investments.
- Sale of Flatiron School to WeWork, highlighting investments in technology and education sectors.
Recent Investments:
- Invested in Togetherwork, a leading provider of software and payments solutions for member-based organizations.
- Acquired a stake in Consilio to enhance its growth and competitive positioning in legal services technology.
Office Locations:
- San Francisco (Headquarters): 4 Embarcadero Center, Suite 700
- Additional Offices: New York, Chicago, Greenwich.
Website: www.gipartners.com
Quote: “Our approach to investment is centered on creating value through strategic partnerships and operational excellence.” – Rick Magnuson, Executive Managing Director
Summit Partners
Investment Style: Summit Partners focuses on growth equity investments across technology, healthcare, financial services, and consumer sectors. Their strategy emphasizes partnering with innovative companies to accelerate growth and expansion.
Portfolio Companies: Summit Partners’ portfolio includes Veepee (e-commerce), Avast (cybersecurity software), and NetBrain Technologies (network automation).
Founding Date: 1984
Number of Investment Professionals: Over 100
Assets Under Management: Approximately $35 billion
Key Investment Professionals:
- Peter Chung, Managing Director & CEO: Leads strategic investments and firm growth initiatives.
- Harrison Miller, Managing Director: Focuses on technology investments and portfolio company oversight.
- Scott Collins, Managing Director: Plays a critical role in the firm’s growth equity strategy and execution.
Recent Exits:
- Exited Infor through a sale to Koch Industries, demonstrating investment expertise in enterprise software.
- Successful IPO of Sumo Logic, highlighting growth in technology investments.
Recent Investments:
- Acquired Jamf, a leading Apple device management company, to drive innovation and market leadership.
- Invested in A Cloud Guru, a cloud computing education platform, to support its expansion and technology development.
Office Locations:
- San Francisco (Headquarters): 400 University Avenue, Suite 1000
- Additional Offices: Boston, London.
Website: www.summitpartners.com
Quote: “Our investment philosophy is to partner with outstanding entrepreneurs and management teams to help their businesses grow and thrive.” – Peter Chung, Managing Director & CEO
Conclusion
San Francisco’s private equity landscape continues to evolve, reflecting the city’s dynamic tech ecosystem. These firms play a crucial role in shaping emerging industries, driving innovation, and transforming companies through strategic investments. As the market matures, we can expect more sophisticated approaches to identifying and scaling promising ventures.
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