TPG · Private Equity Career

Minority-led firm launched by former Trivest, TPG execs

Former Trivest Partners Vice President Herby Raymond has teamed up with former TPG Vice President Matthew Lee to start a new private equity firm based in Miami.

Northern Yard Partners takes its place among just a handful of private equity firms to be co-founded by an African American (Raymond) or an Asian American (Lee). The founding pair have set out to invest in U.S. companies in the business services, residential services, consumer, industrial and distribution sectors generating EBITDA of up to $7 million.

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Summit, TPG, others expected to market funds this year

Several private debt and equity firms, including AS Birch Grove, FSN Capital Partners, Summit Partners and TPG, are expected to be in the market with new funds this year.

Look for fundraises from, among others, private debt fund Ascribe Opportunities Fund V, European mid-market fund FSN Capital VII, Summit Partners Growth Equity Fund XII; and growth equity fund TPG Tech Adjacencies III LP.

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Publicly traded PE Firms added 3,000+ employees last year

Publicly traded private equity firms built out their payrolls rapidly last year, with growth rates ranging from 8 percent to 29 percent, an analysis by Private Equity Career News shows.

An examination of nine firms shows a total workforce increase of 19 percent in 2022, with more than 3,000 new employees added in total, according to employee counts provided via 10-K filings. The firms did not typically break out growth from organic hiring versus growth via acquisitions.

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Tag: TPG

Minority-led firm launched by former Trivest, TPG execs

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Summit, TPG, others expected to market funds this year

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Publicly traded PE Firms added 3,000+ employees last year

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