Growth Equity: Filling the Liquidity Gap

Growth equity incorporates many of the best elements of private equity and venture capital. Low capital loss ratios and attractive returns have led to an increase in LP interest, as well as an increase in competition. As venture capital firms, traditional buyout funds, and other investor groups look to growth equity, the ability for established players to effectively source attractive investments and differentiate from new entrants will be paramount.

 

Moderator

Mark Hallock '82

Partner, M2O Private Fund Advisors

Mark Hallock is a partner at M2O Private Fund Advisors. Prior to forming M2O, Mark Hallock was a Managing Director and ran the Fund Placement Group of Jefferies & Co, opened the New York office for Jefferies Helix, opened the London project management office for Donaldson, Lufkin & Jenrette’s Private Fund Group and established Salomon Brothers’ fund placement business. He has raised capital from investors in the Northeastern and Midwestern United States and Europe for private equity fund managers located in the US, Europe, Asia and Africa.

Mr. Hallock earned his BA in Mathematics from Cornell University and his MBA in Finance from Columbia University.  He holds Series 7, 24 and 63 licenses with FINRA.  

 

Panelists

Frank Ahimaz

CIO, The Museum of Modern Art

Frank Ahimaz joined The Museum of Modern Art in mid 2008 as the Chief  Investment Officer after spending more than 15 years on Wall Street. Prior to joining MoMA, Mr. Ahimaz was a director and worked at Citigroup covering the Retail and Consumer sectors. In his role there, Mr. Ahimaz executed numerous transactions for private equity and hedge fund clients. Prior to working at Citigroup, Mr. Ahimaz was one of three founding partners at Dover Management, an alternative investment fund. In his role at Dover Management, Mr. Ahimaz was responsible for research and investing of the fund’s portfolio companies. Mr. Ahimaz has also worked at Chemical Venture Partners, Merrill Lynch Global Private Equity, Goldman Sachs and Morgan Stanley in both private equity and investment banking. While on Wall Street, Frank executed numerous transactions including the sale of Pathmark to A&P, the sale of Wild Oats to Whole Foods, the purchase of Saks’ NDSG unit for Bon-Ton Stores and the purchase of Monet Jewelry with Richard Rainwater and Ray Chambers.

Frank graduated with an MBA in finance from the Wharton School at University of Pennsylvania and a B.S in aerospace engineering from the Massachusetts Institute of Technology. Frank is a member of the Board of Trustees for the Alvin Ailey Dance Foundation.

 

John Drew '84

General Partner, TCV

John joined TCV in January of 2002. John has over 20 years of operational, financial and technical experience, including leadership positions at several global technology companies.

Prior to joining TCV, John served as one of four CEOs in the Office of the Chairman at Lucent Technologies. John joined Lucent when Lucent acquired International Network Services (NASDAQ:INSS), where John served as President and CEO until its acquisition for $3.7B in November 1999. During his five years at INS, revenues profitably grew from $7 million to $440 million and its employee base increased from 56 to 2,300, establishing INS as the largest and fastest growing network consulting and software company in the world. Prior to joining INS, John was Vice President and General Manager at Unisys Corporation. Throughout his 10-year career at Unisys, he held various positions in general management, finance, marketing and sales and was instrumental in creating one of the largest network integration businesses in North America. John began his business career as a sales consultant for CF Software Corporation after serving as a Captain in the United States Army.
 
John holds a B.S. degree in Engineering from the United States Military Academy at West Point and an M.S. degree in Business Policy from Columbia University. John is currently serving as a director of Fiberlink Communications, Intelligent Beauty, DermStore Beauty Group, Sensa, JUSTFAB and Origin Healthcare Solutions. Additionally John is co-founder of the McDrew Charity Tennis Classic, a member of the Canary Foundation Leadership Council and on the executive committee of the National Venture Capital Association Growth Equity Group.
 
 

Bruce R. Evans

Managing Director, Summit Partners

Bruce R. Evans joined Summit Partners in 1986 and is based in Summit's Boston office. During his 28 years with Summit Partners, Bruce has served as a director of 30 companies including 12 public companies. He is currently a director of Casa Systems, FleetCor Technologies (NYSE: FLT) and Multifonds (IGEFI Group).

Bruce received a BE in mechanical engineering and economics, magna cum laude, from Vanderbilt University and an MBA from Harvard Business School.

Bruce is currently a director of the National Venture Capital Association and Chairman of the NVCA's Growth Equity Group. In addition, he is a member of the Vanderbilt University Board of Trust, the Chairman of Vanderbilt's Investment Committee, a member of the Harvard Business School Board of Dean's Advisors and a trustee of The Roxbury Latin School.

 

Brian Rich '87

Managing Partner and Co-founder, Catalyst Investors

Brian Rich co-founded NYC-based growth equity firm Catalyst Investors in 2000 and focuses on technology-enabled services including internet and mobile services, cloud computing and digital media. As Managing Partner, Brian is responsible for Catalyst’s investment policy and overseeing the entire portfolio. Catalyst is currently investing its third fund.
 
A veteran investor, Brian has more than 20 years of experience investing in growth companies. He has served on numerous boards at Catalyst and predecessor funds and is currently on the executive committee of the National Venture Capital Association (NVCA) inaugural Growth Equity Group.
 
Brian founded and managed TD Capital (USA) Inc., the entity that made Toronto Dominion Bank’s U.S.-based equity, mezzanine, and limited partnership investments from 1995 to 1999. As group head, he oversaw approximately 40 investments totaling more than $600 million. He earlier served as a managing director in the bank’s Media, Telecom & Technology Group and started his career as an engineer at Intel Corporation. 
 
Brian earned a BS in Industrial Engineering from the State University of New York at Buffalo and an MBA from Columbia Business School.