Private Equity and Leveraged Buyout Firms
American Capital Strategies
American Capital is an equity partner in management and employee buyouts; provides mezzanine and senior debt
financing for buyouts led by private equity firms; and provides capital directly to private and small public companies. The
company provides senior and subordinated debt and equity. Capital is available for buyouts, growth, acquisitions and
recapitalizations. As a public company, we have no fixed time time horizon for our investments, allowing us to enter into long-
term commitments. We can provide capital for add-on acquisitions that help build value after the initial closing. Our ability to
invest senior debt, subordinated debt and equity allows us to provide one-stop financing up to $50 million and dramatically
reduce the financing risk associated with a transaction, benefiting both sellers and intermediaries. Our track record of closing
transactions speaks for itself.
American Capital, 2 Bethesda Metro Center, 14th Floor, Bethesda, MD 20814
(301) 951-6122 (301) 654-6714 fax Info@AmericanCapital.com
Apollo Management, the New York private equity firm headed by financier Leon Black, has mined the public stock
market to raise a new $930 million, debt-financing vehicle for middle-market companies. Until now, Apollo, a prominent, 13-
year-old buyout sponsor and distressed-securities specialist, has drawn its capital through private placements with institutional
investors such as pension funds.
Over time Apollo has drummed up $13.2 billion to deploy in LBOs, corporate reorganizations and real estate. It raised its latest
flagship LBO pool, the $3.8 billion Apollo Investment Fund V LP, in 2002.
1301 Avenue of The Americas Floor 38, New York, NY 10019
The mission at Bain Capital is to produce superior investment returns for our investors. To accomplish this, Bain Capital
follows three fundamental principles that have driven the excellence of the firm for close to 20 years: a high-performance culture,
value-added approach to investing, and leveraging our institutional advantages. Our adherence to these principles has enabled
Bain Capital to attract and retain some of the industry's most talented investment specialists, and to consistently generate industry-
leading returns. Since its inception in 1984, Bain Capital has completed over 200 equity investments. The aggregate transaction
value of these investments exceeds $17 billion. Bain Capital is proud of the many companies we have helped build in partnership
with our portfolio company management teams. These companies not only span a range of Industries, and Stages of
development, but also have had varied in the kind of capital required to achieve their strategic objectives.
745 5th Avenue, New York, NY 10151
Phone: (212) 326-9420 Fax: (212) 421-2225
The Blackstone Group.
This firm was founded in 1985 by chairman Peter Peterson and CEO Stephen Schwarzman, it is one of the top US
private investment firms. The company owns more than 13 million sq. ft. of real estate in Boston, New York, San Francisco, and
Washington, DC; as well as the Savoy Group of Hotels in London. Blackstone Group started as an M&A firm and began raising
investment funds in the late 1980s. Its capable restructuring business has landed such bankrupt behemoth clients as Enron and
Global Crossing. The company's Blackstone Alternative Asset Management unit handles a $1 billion in hedge funds for pension
giant CalPERS; it is considering buying TRW's auto parts business.
Address: 345 Park Ave., New York, NY 10154
Phone: 212-583-5000 Fax: 212-583-5712
The Carlyle Group
Established in 1987, The Carlyle Group is a private global investment firm that originates, structures and acts as lead
equity investor in management-led buyouts, strategic minority equity investments, equity private placements, consolidations
and buildups, and growth capital financings.
1001 Pennsylvania Avenue, NW, Suite 220 South, Washington, DC 20004-2505
Phone: 202 347 2626 Fax: 202 347 1818 firstname.lastname@example.org
Cerberus Capital Management
Named after a three-headed dog that guards the gates of hell, Cerberus Capital Management's investment strategy is to
keep companies from flaming out. Holdings include a 49% stake in Japanese bank Aozora, US tech firms ICG
Communications and SSA Global Technologies, and cable operator Galaxy Cable. The firm often injects capital into retail
ventures -- struggling music retailer Wherehouse Entertainment was a former investment, as was beleaguered fashion house
Esprit de Corp (now known as Esprit Holdings). More recently, subsidiary Riley Property acquired real estate services firm
LNR Property, and Cerberus paid about $2.3 billion for MeadWestvaco's paper business, forming NewPage Corporation.
299 Park Ave., New York, NY 10171
Phone: 212-891-2100 Fax: 212-891-1540
Clayton, Dubilier & Rice
This firm specializes in turnaround situations. Targeting underachieving units of large corporations, the company
typically structures an LBO and works to improve operations. The firm's numerous partners, made up of former CEOs, CFOs, or
COOs (and including ex-GE CEO Jack Welch), have a reputation as hands-on managers of the buys they oversee. Since it was
formed in 1978, Clayton, Dubilier & Rice has invested some $2.5 billion in more than 30 deals, many of them in the technology
and industrial sectors. The company has also taken a keen interest in investments in Germany, Italy, and the UK. It sold
foodservice products distributor Alliant Exchange to Dutch retail giant Royal Ahold.
Address: 375 Park Ave., New York, NY 10152
Phone: 212-407-5200 Fax: 212-407-5252
Equity Group Investments
This firm is the apex of financier Sam Zell's pyramid of business holdings. The Chicago-based private investment group
controls a multi-billion dollar mix of businesses, including real estate investment trusts (REITs), restaurants, and cruise ships.
Zell's REIT portfolio makes him the US's largest owner of property leased by manufactured homeowners
(Manufactured Home Communities), office buildings (Equity Office Properties Trust), and apartments (Equity Residential
Properties Trust). Sam Zell has a controlling interest in Equity Group Investments.
Address: 2 N. Riverside Plaza, Ste. 600 Chicago, IL 60606
Phone: 312-454-1800 Fax: 312-454-0610
Evercore Capital Partners (ECP)
EPC is a $1.2 billion private equity partnership funded by prominent U.S. and international investors, including
corporate pension funds, endowments, insurance companies, investment trusts, banks and families. ECP makes private equity
investments in established businesses, and has differentiated itself by its ability to use Evercore’s extensive relationship network
to originate opportunities and to help build value in portfolio companies. ECP’s investment guidelines are broad and flexible. We
typically seek investments whose total enterprise value is at least $100 million, and have completed transactions that exceed $1.5
billion in value, in partnership with co-investors.
65 East 55th Street, 33rd Floor, New York, NY 10022
Phone: 212-857-3100 Fax: 212-857-3101
Forstmann Little & Co
Don't let the "Little" fool you: buyout firm Forstmann Little & Co. has been home to some big names. The firm, which
specializes in telecommunications, technology, education, and health care investments, counts among its former advisory board
members Secretary of Defense Donald Rumsfeld and Secretary of State Colin Powell, and George Shultz and Henry Kissinger.
Since it’s founding in 1978, Forstmann Little has invested more than $10 billion in about 30 companies. It is led by the surviving
founding group member, Ted Forstmann; Nicholas Forstmann died in 2001, and William Little died in 2000. Connecticut is suing
Forstmann Little & Co. to recover state retirement money it claims the firm invested recklessly.
Address: 767 5th Ave., New York, NY 10153
Phone: 212-355-5656 Fax: 212-759-9059
Greenhill Capital Partners, LLC
Greenhill Capital manages several private equity funds with an aggregate of $1.3 billion in committed capital, focusing on the
financial services, energy and telecommunications industries. Its publicly traded portfolio companies include: Global Signal Inc.,
Heartland Payment Systems, Inc. and Hercules Offshore, Inc. Greenhill Capital is an affiliate of Greenhill & Co., Inc. , an
independent global investment banking firm with offices in New York, London, Frankfurt, Toronto and Dallas. For more
information about Greenhill Capital, please visit http://www.greenhillcapitalpartners.com.
Greenhill conducts interviews at a limited number of U.S. graduate business schools. Interviews for full-time positions
are generally conducted in November, while interviews for summer positions typically take place in February and March. If we
do not recruit at your school, please submit a cover letter and resume to the New York office at nyassociaterecruit@greenhill-
co.com. We will contact you if interested.
Greenhill & Co. +1 212-389-1500 Tel
300 Park Avenue +1 212-389-1700 Fax
New York NY10022
United States of America
Gryphon is a well-respected private equity firm focused on making $25 million to $75 million equity or equity-linked investments
in the middle market. We have over $700 million of capital under management, a blue-chip cast of limited partners, and have
executed over 50 middle market equity transactions since our founding in 1995.
Gryphon Investors Phone: 415-217-7400
One Market Plaza Fax: 415-217-7447
Steuart Tower email@example.com
San Francisco, California 94105
HarbourVest Partners, LLC
HarbourVest Partners is a global private equity investment firm. It was founded in 1997 to provide institutional
investors with a vehicle through which to invest in venture capital and other private equity partnerships as well as directly into
operating companies. HarbourVest invests in all types of private equity funds, including venture capital and leveraged buyout
funds, and also directly in operating companies. HarbourVest currently manages investments in North America, South America,
Europe, Asia, Australia and Africa.
The firm's clients include more than 200 pension funds, endowments, foundations, and financial institutions from the
U.S., Europe, Canada, Australia, and Japan that have committed capital of about $11 billion. During its 20-year history of
investing, the HarbourVest team has committed $7.9 billion to 200 managers of private equity funds on a primary basis,
completed $1.3 billion in 210 purchases of secondary partnership interests, and invested $1.9 billion directly in operating
Since 1982, the management of HarbourVest has formed six major investment programs to invest in the United States,
the most recent being HarbourVest Partners VI, a $4.6 billion investment program formed in 1999 to invest in partnerships,
buyout partnerships, and direct investment opportunities. This fund is currently in an active investment mode.
One Financial Center, 44th Floor, Boston, MA 02111
Phone: (617) 348-3707 Fax: (617) 350-0305
Hellman & Friedman, LLC
Hellman & Friedman LLC, founded in 1984, is a private equity investment firm with offices located in San Francisco,
London, and New York. We raised our first institutional private equity fund in 1987. During our 18-year investing history, we
have raised and managed over $8 billion of committed capital and have invested in over 50 companies. We are currently
investing our fifth fund, Hellman & Friedman Capital Partners V, L.P. (HFCP V), with $3.5 billion of committed capital, which
was activated in August 2004.
Our objective is to invest long-term equity capital to support the strategic and financial objectives of outstanding
management teams operating businesses with defensible positions in growing markets. Over our lifetime, we have distinguished
ourselves as a flexible source of capital and a value-added partner.
Our team consists of 30 investment professionals, including 13 managing directors with an average tenure with the Firm of 12
years. This allows us to spend substantial time working with the companies in which we invest.
Limited partner investors in our funds include many of the largest U.S. and international corporate pension funds, U.S.
state pension funds, university endowments and foundations. And, in HFCP V, we (the partners of the firm) collectively are one
of the largest limited partners.
Hellman & Friedman LLC Hellman & Friedman LLC
One Maritime Plaza, 12th Floor 375 Park Avenue, 20th Floor
San Francisco, CA 94111 New York, NY 10152
Phone (415) 788-5111 Phone (212) 871-6680
Facsimile (415) 788-0176 Facsimile (212) 871-6688 firstname.lastname@example.org
Hicks, Muse, Tate & Furst
This company creates investment pools in the form of limited partnerships. Investors are mostly pension funds but also
include financial institutions and wealthy private investors. The leveraged buyout firm assembles limited partnership investment
pools, targets underperforming companies in specific niches, builds them up, and uses them to form a nucleus for other
investments. Hicks, Muse also has holdings in manufacturing and real estate.
Address: 200 Crescent Ct., Ste. 1600, Dallas, TX 75201
Phone: 214-740-7300 Fax: 214-720-7888
J.P. Morgan Partners, LLC
J.P. Morgan Partners, LLC ("JPMP") is a leading private equity organization. Its primary goal is to build a diversified
portfolio of investments in middle-market buyouts, growth equity and venture in the United States and Europe, and across its five
core industry segments. JPMP complements this strategy with focused efforts in emerging markets in Latin America and Asia.
Gluing this strategy together is the global integrated network, which enables JPMP to draw on expert resources residing within JP
Morgan Chase, its extensive portfolio, and worldwide contact network to source attractive opportunities and manage its
As of September 30, 2004, JPMP has approximately $13 billion in capital under management. With approximately 120
investment professionals, JPMP invests globally through nine principal offices. Since its inception in 1984, JPMP has closed
more than 1,300 individual transactions. JPMP's diversified portfolio includes board seats in over 300 companies.
JPMorgan Partners is the private equity arm of J.P. Morgan Chase & Co., a leading global financial services firm with assets of
$1.1 trillion and operations in more than 50 countries. Other prominent institutions and individuals are also investors in JPMP.
1221 Avenue of the Americas 50 California Street 29th Floor
New York, NY 10020 San Francisco, CA 94111
(212) 899-3400 Fax: (212) 899-3401 (415) 591-1200 Fax: (415) 591-1205
Kohlberg Kravis Roberts
This firm, popularly known as KKR, has shed its hostile takeover image for a kinder, gentler, buy-and-build strategy.
KKR assembles funds to buy low and sell high. An active investor, the firm supervises or installs new management and revamps
strategy and corporate structure, selling underperforming units or adding new ones. KKR profits not only from its direct interest
in these companies but also from fund and company management fees.
Address: 9 W. 57th St., Ste. 4200, New York, NY 10019
Phone: 212-750-8300 Fax: 212-750-0003
Lehman Brothers Holdings, Inc.
Lehman Brothers is a lean, mean, investment banking machine. One of the top bulge-bracket firms, the company is perennially
among the industry leaders in mergers and acquisition advice and financing; it also boasts significant debt and equity
underwriting, restructuring advisory, and private equity operations. Capital markets activities (its largest segment) entail
institutional brokerage, market making, equity research, securities lending, mortgage banking, and real estate investment. Its asset
management business, which oversees more than $135 billion for clients, includes private banking, trust services, and Neuberger
Berman. Employees and management own about a third of Lehman Brothers.
745 7th Ave., New York, NY 10019 (Map)
Phone: 212-526-7000 Fax: 212-526-8766 Toll Free: 800-666-2388 http://www.lehman.com
LLR Partners Inc.
LLR is a $620 million private equity firm that provides capital to middle market growth companies with proven business models
in a broad range of industries, including financial, healthcare, software and business services. LLR is flexible in its approach,
investing up to $50 million, taking minority or control positions and leading transactions ranging from expansion and growth
capital to recapitalizations and buyouts. LLR creates value beyond its capital contribution by partnering with existing
management and providing advice and access to its extensive business network. For more information about LLR, please visit
Cira Centre Phone: 215.717.2900
2929 Arch Street Fax: 215.717.2270
Philadelphia, PA 19104-2868 email@example.com
Madison Dearborn Partners
Madison Dearborn Partners ("MDP"), based in Chicago, is one of the largest and most experienced private equity
investment firms in the United States. MDP's principals manage four funds with about $7.5 billion in assets. MDP invests in
management buyout and other private equity transactions across a broad spectrum of industries. MDP's objective is to invest in
companies in partnership with outstanding management teams to achieve significant long-term appreciation in equity value. MDP
generally seeks to invest $50 million to $400 million of equity capital in a single transaction. It focuses on several specific
sectors: (i) basic industries, (ii) communications, (iii) consumer, (iv) financial services, (v) healthcare, and (vi) middle market.
Many of MDP's principals have worked together since the early 1980s and together founded MDP in 1993. Previously,
MDP's principals built a $2.6 billion management buyout and venture capital portfolio at First Chicago Corporation. The limited
partners in MDP's investment funds include many of the largest endowments, public and private pension funds, and financial
institutions in the U.S., as well as established institutional investors in Europe and Asia.
Three First National Plaza, Suite 3800, Chicago, Illinois 60602
Telephone: 312-895-1000 Fax: 312-895-1001 E-mail: firstname.lastname@example.org
Milestone Partners is a lower middle market private equity firm specializing in making investments of $5 to $18 million
in manufacturing, distribution and service companies with valuations of up to $100 million.
Milestone provides liquidity to non-management shareholders of family-owned businesses, facilitates the transition of ownership
to key managers, and capitalizes on growth opportunities while maintaining the legacy of the founding entrepreneurs.
Milestone's consistent focus on the lower middle market has enabled the firm to generate superior returns for our limited partners
over the past ten years. Milestone is currently making investments through Milestone Partners II, L.P., a $120 million committed
fund raised in 2005.
595 East Lancaster Ave., Suite 303 www.milestonepartners.com/
St. Davids, PA 19087
P: (610) 526-2700
F: (610) 526-2701
Monitor Clipper Partners, Inc.
Monitor Clipper Partners is a private equity investment firm formed in 1998 by The Monitor Group, a leading group of
advisory businesses that has at its core one of the world’s largest strategy consulting firms, and The Clipper Group, an
experienced private equity investment firm. We seek to make private equity investments in middle-market companies in North
America and Europe to which we can add significant value through the combined skills of our principals and our privileged
access to the proprietary resources of The Monitor Group. MCP currently manages over $725 million of capital and has invested
over $525 million in 18 transactions since making its first investment in February 1999.
Two Canal Park, 4th Floor, Cambridge, Massachusetts 02141
Telephone: (617) 252-2200 Fax: (617) 252-2211 General Email: email@example.com
Providence Equity Partners Inc.
This is a private investment firm specializing in equity investments in communications and media companies around the
world. The principals of Providence Equity manage funds with over $5.0 billion in equity commitments, including Providence
Equity Partners IV, a $2.8 billion private equity fund, and have invested in more than 70 companies operating in over 20
countries. Providence Equity currently has offices in Providence, Rhode Island, London, England, and New York, New York.
50 Kennedy Plaza, 18th Floor, Providence RI, 02903
Phone (401) 751-1700 Fax (401) 751-1790
Quadrangle Group LLC
This is a private investment firm, invests in mature and high-growth media and communications companies in the United
States and Europe through a $1.08 billion private equity fund and in the securities of financially troubled companies across
industry groups through a separately managed distressed debt investment program. Both investment programs seek to maximize
value by leveraging our extensive experience, knowledge and industry relationships.
Address: 375 Park Avenue, New York, NY 10152
Tel: (212) 418-1700 Fax: (212) 418-1701 Contact Quadrangle at firstname.lastname@example.org
Ripplewood Holdings LLC
Ripplewood Holdings is making waves in the world of private equity investment. The firm manages more than $10
billion in capital, and invests in automotive retail, food manufacturing, industrial manufacturing, banking, entertainment, and
technology; portfolio holdings include Direct Holdings Worldwide, Asbury Automotive, and WRC Media. Expanding its
operations in Japan, the company bought Shinsei Bank, D&M Holdings, and ailing recording label Columbia Music
Entertainment (formerly Nippon Columbia). Founder and CEO Timothy C. Collins' zeal for buying iconic Japan companies has
elicited the wrath of Japanese industrialists fearful of foreign ownership. A group led by Ripplewood agreed to acquire Maytag in
One Rockefeller Plaza, 32nd. Fl., New York, NY 10020
Phone 212-582-6700 Fax 212-582-4110
Silver Lake Partners
Silver Lake Partners is a private equity firm focused solely on making large-scale investments in leading technology
companies. We are partners to world-class management teams who seek to use our capital and expertise to build and extend their
market leadership. Our core investment thesis is that the technology industries represent an extraordinary yet under-exploited
target for large-scale private equity investments. Silver Lake has a world-class team, an unparalleled depth of experience in
technology, an extensive network of contacts, and a value-added approach that puts us in an excellent position to take advantage
of the opportunities available to us. Key areas in which Silver Lake adds value to our investments include: (i)
Strategic planning and corporate development, (ii) Organizational design, (iii) Recruiting, (iii) Customer and partner relationship
development, (iv) Sales and marketing review, (v) Media and public relations, and (vi) Capital markets and investor relations.
9 West 57th Street, 25th Floor, New York, NY 10019
Tel: 212-981-5600 Fax: 212-981-3535
Texas Pacific Group (TPG)
This firm has staked its claim on the buyout frontier with a reputation for roping in companies other firms wouldn't touch
with a ten-foot pole. TPG is an active investor, often taking control of the firms in which it invests. It profits not only from the
rise in value of its holdings, but also from fund management. Like investor Warren Buffett, TPG invests in brands, buying and
resuscitating consumer and "luxe" labels, as well as less-recognizable technology and telecommunications companies.
301 Commerce St., Ste. 3300, Fort Worth, TX 76102
Phone: 817-871-4000 Fax: 817-871-4001
Thomas H. Lee Company
This firm is the teddy bear at the gate: It only pursues companies that want to be pursued. Known as a "friendly"
leveraged buyout (LBO) firm, it uses a mix of debt, funds from institutional investors, and its own money to buy companies.
Unlike the fearsome LBO outfits of the 1980s, Thomas H. Lee eschews the axe for the hammer; it builds up its acquisitions and
courts management cooperation. Typical acquisitions are middle-market companies with the potential for growth (if not
headlines). Lee then sells the revamped acquisitions or takes them public. Founder Thomas H. Lee owns about two-thirds of the
Address: 75 State St., 26th Fl., Boston, MA 02109
Phone: 617-227-1050 Fax: 617-227-3514
At Warburg Pincus, we have one business: Private Equity Investing. Warburg Pincus has built on more than 30 years of
experience to become a global leader among the top private equity and venture capital firms in existence today. Working in
partnership with management teams, the firm adopts an active role in developing business. We provide equity capital across all
stages of a company’s life cycle, from start-up and growth financings to acquisitions and restructurings. Warburg Pincus operates
worldwide to source new investment opportunities, provide strategic advice and guidance, and implement creative financing
structures. With an unparalleled expertise, the firm has invested more than $18 billion in approximately 490 companies in 30
The Warburg Pincus strategy is to: (i) develop broad investment capabilities internally, (ii) create a global network of talented
and experienced operational executives, and (iii) provide superior rates of return for its limited partners over the long term.
Warburg Pincus LLC 466 Lexington Avenue, New York, NY 10017-3147
Tel: 212-878-0600 Fax: 212-878-9100 Email: email@example.com