Private Equity Associate - Healthcare About the Role The Associate will join a private investment firm, in their Philadelphia, PA office. Founded three years ago, this division of private equity firm, has quickly established itself as a dynamic player in the healthcare investment landscape. Anchored by the support of a family office, the firm has successfully launched and managed three major platforms, with a fourth platform nearing completion. Demonstrating robust growth and strong investor confidence, the firm achieved a significant milestone with the first close of its inaugural fund, raising $40M. This firm focuses on investing in businesses valued at $10-$30M, investing in the life science, pharma, medical devices, hospitals, health systems & providers, payor & insurance services, and healthcare service industries. Key Responsibilities The Associate will support senior investment professionals in investment sourcing, due diligence, and portfolio management functions of the firm. Specific responsibilities include: Financial analysis – Create financial models to analyze cash flows, investment returns, and enterprise values for new investment opportunities and existing portfolio companies Investment approval materials – Prepare memos and other approval materials for the Investment Committee Industry research – Conduct research on market size, growth prospects, demand drivers, key competitors, etc. Third party diligence – Facilitate diligence activities with third-party partners (e.g., senior lenders, accountants, attorneys, IT consultants, strategy consultants) Portfolio management – Assist with ongoing monitoring and ad hoc strategic projects for portfolio companies Investor relations and fundraising – Compile financial reports and valuation estimates of current portfolio companies for current and potential investors Marketing – Provide support and attend industry events, conferences, trade shows, etc. Professional Experience & Qualifications Minimum of 3 years of experience in middle-market investment banking, private equity or TAS. Recent MBA graduates are welcomed to apply! This is a great opportunity for candidates looking to break into Private Equity who feel they have missed their "recruiting window." Personal Characteristics Ability to multi-task in a dynamic environment, work independently, prioritize work effectively, and meet stringent deadlines while maintaining high quality of work standards. Intellectual curiosity Entrepreneurial spirit Team player Self-starter Strong analytical and communication (verbal and written) skills Ability to work well with portfolio companies is important Outstanding organizational abilities High attention to detail Desire to learn Education An undergraduate degree is required. MBA candidates are encouraged to apply! Salary $125k all-in compensation (includes base and bonus). Carry is offered at the Associate level. Apply here: https://lnkd.in/emfCAmGa
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Morgan Stanley owns Graystone Consulting. has been honored for the third year in a row by coalition Greenwich as a Greenwich Quality Leader in all of U.S. investment consulting by large consultants. This esteemed award is a testament to Graystone's excellence and commitment to giving customers first-rate service. Go here to learn more about the article: Coalition Greenwich Quality Leader Award 2023 (Source: Coalition Greenwich Voice of Client – 2023 Global Institutional Investors Study (April 2024). The 2023 Greenwich Quality Leader in Overall U.S. Investment Consulting (Large Firms) designation was awarded to three firms and is based on the results of interviews conducted by Coalition Greenwich. Between February and November 2023, Coalition Greenwich interviewed 708 individuals from 575 of the largest tax-exempt funds in the United States, including corporate and union funds, public funds, and endowment and foundation funds, with either pension or investment pool assets greater than $150 million. The award is the product of numerical scores in Coalition Greenwich's proprietary research that are generated from the study interviews. Investment performance is not a criterion because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. Neither Morgan Stanley Smith Barney LLC nor Graystone Consulting pays a fee to Coalition Greenwich in exchange for the award; Graystone does not pay to have its clients participate in the study. The award is not indicative of participating firm's nor their financial advisors' past or future performance and may not be representative of any one client's experience because the results represent an average of all experiences of responding clients only. Coalition Greenwich is a division of CRISIL. Morgan Stanley is not affiliated with Coalition Greenwich.) Awards Disclosures | Morgan Stanley © 2024 Morgan Stanley Smith Barney LLC. Member SIPC. Graystone Consulting is a business of Morgan Stanley Smith Barney LLC.
Graystone Consulting Named Quality Leader for 3rd Straight Year | Morgan Stanley
morganstanley.com
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I am honored to announce that the Citrus Group at Morgan Stanley in the Orlando Office have again been named a Forbes Best-In-State Wealth Management Teams for 2024. Congratulations to Bob Brett, CMT, CFP®, Herb Means, CFP®, Dan Murphy, CFP®, Mark Gibson, CFP®, Anne Marie Williams, CMT, CFP®, James Squillante, Gaury Rogers and the entire Citrus Group. The Citrus Group | Orlando, FL | Morgan Stanley Wealth Management The team truly exemplifies Morgan Stanley's core values as they serve their valued clients every day. Congratulations! We are proud to be partners with all of you. Source: Forbes.com (November 2024) 2024 Forbes America’s Top Wealth Management Teams ranking awarded in 2024. This ranking was determined based on an evaluation process conducted by SHOOK Research LLC (the research company) in partnership with Forbes (the publisher) for the period from 3/31/23–3/31/24. Neither Morgan Stanley Smith Barney LLC nor its Financial Advisors or Private Wealth Advisors paid a fee to SHOOK Research LLC for placement on its rankings. This ranking is based on in-person and telephone due diligence meetings to evaluate each Financial Advisor qualitatively, a major component of a ranking algorithm that includes client retention, industry experience, review of compliance records, firm nominations, and quantitative criteria, including assets under management and revenue generated for their firms. Investment performance is not a criterion. Rankings are based on the opinions of SHOOK Research LLC and may not be representative of any one client’s experience; investors must carefully choose the right Financial Advisor or team for their own situation and perform their own due diligence. This ranking is not indicative of the Financial Advisor’s future performance. Morgan Stanley Smith Barney LLC is not affiliated with SHOOK Research LLC or Forbes. For more information, see www.SHOOKresearch.com. © 2024 Morgan Stanley Smith Barney LLC. Member SIPC. https://lnkd.in/ebzpyrPi https://lnkd.in/ed9NJk5N
Best-In-State Wealth Management Teams 2024
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Back in 2006, when I was deciding which firm I wanted to join to continue my career as a portfolio manager, I chose Phillips, Hager & North. The firm wasn't well known in Montreal, as it was headquartered in Vancouver. My decision was based on the firm's strong culture of excellence in investment management, with a client-centered approach and a commitment to thought leadership. In 2008, RBC acquired PH&N to enhance its expertise in private client and institutional investment management. Today, RBC PH&N Investment Counsel, RBC Global Asset Management and PH&N Institutional are leaders in their respective industries and continue to build on the tremendous talents of their teams. This year, PH&N celebrates 60 years of existence 🥳 The firm continues to maintain its culture of excellence and focus on the client. I’m proud to be a part of this history and this outstanding team! Here's a bit of background about 1964, when a different kind of investment firm was founded: The investment firm known as Phillips, Hager & North (PH&N) was founded in Vancouver by Art Phillips, Bob Hager and Rudy North, who were soon joined by Dick Bradshaw. The four founding partners set out to create a different kind of investment firm. In those days, investment management was primarily the domain of insurance companies and brokerage firms. The former offered limited investment options and with the latter, clients could face high commission costs generated through unnecessary portfolio turnover. PH&N offered a somewhat different approach: active investment management, transparency, and modest fees based on portfolio assets, so clients knew what they were paying for in their portfolio. From the beginning, PH&N clients included institutional and individual investors.
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This is a remarkable partnership and also highlights the capital markets interest in diverse and emerging managers. Insurance companies such as New York Life Insurance Company continue to increase activity in the investment and acquistion of private market fund managers, and Connecticut-based Fairview Capital have built an interesting specialization in #privatemarkets, backing diverse and emerging fund managers across #venturecapital, #privateequity and #coinvestments. Fairview Capital has more than $10 billion in assets under management and invests on behalf of #institutionalinvestors, including public and private #pensionplans, #foundations and #endowments. New York Life Investments has committed $200 million to Fairview Capital since 2021 as part of New York Life’s initial $1 billion #impact investment initiative designed to help bridge the racial wealth gap by investing in #underserved and #undercapitalized communities. Looking forward to seeing more partnerships between #insurancecompanies and private markets fund managers. One key question - wow will #limitedpartners view these #gpstakes going forward? #gpstakes have seemingly made their traction into the mainstream of private markets. #alternativeinvestments
New York Life takes minority stake in Fairview Capital
pionline.com
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I think advisors who choose to outsource investment management often think that their clients 'don't know the difference' or 'don't understand the nuance' of choosing a professional money manager to handle their investments. This Natixis Investment Managers study paints a far different picture. Clients actually stress less and trust their advisors more if their investment portfolios are outsourced and not managed by their financial advisor. At Wealthcare, we manage models for our independent advisors as part of our complete outsourced solution. We feel strongly that advisors should focus their time and efforts into doing what they do best...providing holistic planning advice and focusing on excellent client outcomes.
Model Portfolios Build Clients’ Trust in Their Advisors
riaintel.com
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Procrastination is the art of keeping up with yesterday. Investing in HSA: Don't Miss Out on Maximizing Your Healthcare Savings! 💼📈💰 #hsa #investing #healthcare #health #family #wellness Summary: KKR, a leading global investment firm, is seeking approximately $20 billion for its latest flagship North America private equity fund, North America Fund XIV. This new fund comes as a follow-up to its predecessor, launched three years ago with a similar size. With around $578 billion in managed assets as of March, KKR faces an increasingly competitive landscape in the asset management industry. Investing in Health Savings Accounts (HSAs) has become an attractive option for individuals looking to grow their healthcare savings while enjoying tax advantages. As a trusted investment advisor, I strongly recommend taking advantage of the HSA investment opportunity to secure your financial future. By investing in HSA accounts, you can align your healthcare savings with potential market growth and generate returns that outperform traditional savings accounts. Not only will you be growing your wealth, but you'll also have peace of mind knowing that your funds are readily available for qualified medical expenses. Don't let procrastination hold you back from maximizing your HSA and experiencing the benefits it offers. Act now and leverage the power of investing to secure your health and financial well-being. Join the movement today for a brighter tomorrow! 🌟📊💪
Private Equity Giant KKR Faces Challenging Fundraising Market for New Fund
quiverquant.com
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Co-Founder @ Fund Launch | 60,000 Members of the FL Community | GP @ Ugly Unicorn 🦄 $10m+ Hedge Fund
When raising capital, it's important to understand the different classes of investors If you raise from the wrong group, you could get in some serious trouble with the SEC... These are the different classes: -> Non-Accredited Investors * Less than $1 million in net worth (excluding primary residence) * or Less than $200,000 gross income per year (single) or $300,000 per year for joint filers. ->Accredited Investors * More than $1 million in net worth (excluding primary residence) * or More than $200,000 gross per year (single) or $300,000 per year for joint filers. -> Family Offices A family office is essentially a wealth management firm for high net worth (HNW) or ultra high net worth (UHNW) individuals. They are all encompassing financing for ultra rich. HNW and UHNW individuals are measured differently by different institutions – in J.P. Morgan’s Private Bank (like a family office, except on a larger scale) to be considered a HNW individual someone needs to have $10 million in liquid investible assets. To be considered an UHNW client someone needs to have $50 million in liquid investible assets. -> Qualified Clients Qualified Clients are the best type of client to have because they qualify for both 506 (b) and 506 (c) funds as well as fit the criteria on a 3(c)(1) filing. Note that if you qualify to be a qualified client, then you are by default an accredited investor as well. The benchmark: * $2.1 million net worth (excluding primary residence) * or $1 million with an investment advisor -> Qualified Purchasers A Qualified Purchaser is the second highest type of investors. You can invest in all funds including both a 3(c)(1) and a 3(c)(7). To be a Qualified Purchaser, you have to: * have a $5 million net worth (excluding primary residence) * or have over $25 million if you are a registered entity -> Institutional Investors Institutional Investors are the big boys on the block. They actually account for almost half of the trading volume on the NYSE! To borrow the definition from Investopedia: “An Institutional Investor is a company or organization that invests money on behalf of other people… Broadly speaking, there are six types of institutional investors: endowment funds, commercial banks, mutual funds, hedge funds, pension funds, and insurance companies.”
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Firstly, private equity funds like to use Interim Managers during due diligence to assess the health of an organization and to draw up a plan. But a DD will not reveal everything and you will need soon an strategic resource to set up and implement the operational improvements. Can be operations, sales, marketing, financial and technology. Often the stake of a private equity fund is sold after 5 to 7 years. The proceeds are paid out to the investors. Professional Interim Management should therefore not be seen as a cost, but as an investment, both during the preliminary study and during the implementation. #privateequity #financeandeconomy #interimmanagement #businessandmanagement #equities
Can Interim Management guarantee successful Private Equity? - Senior Management Worldwide
https://smw-interim.com
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The Top Private Equity Firms by Country! Private equity firms are investment management companies that pool investor capital to acquire stakes in private companies. Through strategic management, they aim to enhance the value of these companies, then profit from a future sale or public offering. To gain insight into this industry, we’ve visualized the top private equity firms in various countries, ranked by the amount of capital they raised over the past five years ending March 2023. The cutoff for inclusion in this graphic was $9 billion raised. All figures come from Private Equity International’s PEI 300 ranking. The data we used to create this graphic is included in the table below. Country Firm Amount raised 🇺🇸 US Blackstone $126B 🇸🇪 Sweden EQT $102B 🇬🇧 UK Hg $51B 🇱🇺 Luxembourg CVC Capital Partners $42B 🇨🇦 Canada Brookfield Asset Management $31B 🇨🇭 Switzerland Partners Group $27B 🇭🇰 Hong Kong Hillhouse Capital Group $26B 🇫🇷 France PAI Partners $24B 🇨🇳 China China Reform Fund Management Corp $17B 🇳🇱 Netherlands Waterland Private Equity $9B U.S.-based Blackstone is the world’s largest private equity firm, with operations in additional areas like credit, infrastructure, and insurance. While not shown in this graphic, the U.S. largely dominates the private equity landscape. If we were to rank the top 10 private equity firms by the same metric (capital raised over past five years), U.S. firms would account for eight of them. #privateequity https://lnkd.in/dYbVjAWr
The Top Private Equity Firms by Country
https://www.visualcapitalist.com
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There's a definite trend toward leveraging non-FTE advisors to drive portfolio value creation in both PE and VC, but every arrangement seems a little different. 𝗜 𝗽𝘂𝗹𝗹𝗲𝗱 𝘁𝗼𝗴𝗲𝘁𝗵𝗲𝗿 𝘀𝗼𝗺𝗲 𝗿𝗲𝗰𝗲𝗻𝘁(𝗶𝘀𝗵) 𝘀𝘂𝗿𝘃𝗲𝘆 𝗱𝗮𝘁𝗮 𝗼𝗻 𝗵𝗼𝘄 𝗣𝗘 𝗮𝗻𝗱 𝗩𝗖 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗮𝗱𝘃𝗶𝘀𝗼𝗿𝘀 𝗮𝗿𝗲 𝗰𝗼𝗺𝗽𝗲𝗻𝘀𝗮𝘁𝗲𝗱. General Catalyst just put out an advisor compensation survey based on 254 datapoints from Seed-Series D VC-backed companies. In general advisory relationships seem to be with a single company, and for a relatively short period of time (a few years), which makes sense given how quickly the advisory needs of early-stage, fast-growing companies can change. Compare that with findings from Heidrick & Struggles 2022 North American Private Equity Investment Professional Compesnation Survey based on 939 participants (mostly full-time ops, with some non-FTE advisors) at PE firms with AUM rangin from less than $500M to $10B+. In the PE world, it's common to see deeper relationships between a particular investor and an advisor, with advisors working with multiple companies within a portfolio. VC comp skews toward equity, while PE comp is more cash-heavy. With more and more firms building advisory groups (e.g. Updata Partners' Operating Advisors, Silversmith Capital Partners' Senior Advisors, JMI Equity's Operating Advisors, PSG's Senior Advisors, Brighton Park Capital's Senior Advisors), I expect advisor arrangements will continue to standardize. 𝗢𝗻𝗲 𝘁𝗵𝗶𝗻𝗴 𝘁𝗵𝗮𝘁 𝗱𝗶𝗱𝗻'𝘁 𝘀𝗵𝗼𝘄 𝘂𝗽 𝗶𝗻 𝘁𝗵𝗲𝘀𝗲 𝘀𝘂𝗿𝘃𝗲𝘆𝘀, 𝗯𝘂𝘁 𝘄𝗵𝗶𝗰𝗵 𝗜'𝗺 𝘃𝗲𝗿𝘆 𝗰𝘂𝗿𝗶𝗼𝘂𝘀 𝗮𝗯𝗼𝘂𝘁, 𝗶𝘀 𝗵𝗼𝘄 𝘁𝗵𝗲 "𝗔𝗱𝘃𝗶𝘀𝗼𝗿 𝗟𝗣" 𝗺𝗼𝗱𝗲𝗹 𝗶𝘀 𝗺𝗼𝘀𝘁 𝗼𝗳𝘁𝗲𝗻 𝘀𝗲𝘁 𝘂𝗽. If you have any insight into how firms are structuring arrangements where ex-operator LPs get to invest (in the fund or on a deal-by-deal basis) at favorable rates in exchange for advising, I'd love to talk!
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