HSP Clients

NY-based AEA Small Business Fund invests in mainly founder-led businesses across value-added industrial products, specialty chemicals, consumer / retail, and services. They closed on their fifth fund at $1.3Bn in 2023, exceeding the fund’s target of $1.0Bn. They target investments ranging from $50-250MM in equity, and they have had 137% average portfolio company revenue growth. 63% of their portfolio company executives later become investors in AEA SBF. In addition to their investment professionals, they view their Operating Partners and Executives as a network of more than 75 Participants, which act as an extension of its sector knowledge base.  AEA’s 54-year history (founded by the Mellon, Rockefeller, and Harriman families in partnership with SG Warburg & Co), combined with its Participant network, provides the SBF team with resources typically reserved for multi-billion-dollar funds which has been a huge competitive advantage. They have a culture that is collaborative, driven, and respectful and are looking for strong performing candidates to grow in the organization, though the initial program is two years.

Audax is a private equity firm that aims to be partners in growing leading companies. Audax takes a “buy and build” approach to investing – accelerating growth and delivering resources and expertise to help companies scale organically and through acquisition. The team partners with management teams of established, market-leading companies based on integrity, respect and a shared vision. Audax’s Fifth Fund is $5.3Bn, which is substantially larger than its predecessor, Fund VI ($3.5Bn) which closed in 2018. They have industry expertise in business services, consumer, financial services, healthcare, industrial services & technology and software & technology. Associates experience robust live deal activity as well as operational exposure / direct interface with management teams. There is also an ability to stay on in a career-track capacity for strong performers. The team’s headquarters is in Boston, Massachusetts, and while they also have a team in San Francisco, HSP works with the Boston office.

BC Partners is a global private equity firm founded in 1986 with offices in New York, London, Paris and Hamburg. The firm has a European legacy that has become a cross-border leader since coming to New York in 2008; the Chairman now sits in New York. In 2022, the firm had a final close €5.3Bn on Fund XI, and it focuses on market leading buy-out deals of larger businesses (like Chewy and EAB) across four core sectors including TMT, services &industrials, healthcare and consumer. Despite the fund size and size of deals, they have a small team, community feel, with only ~25 PE investment professionals in NYC, and 65 total across all offices. Associate will rotate through investment sectors and are incorporated into all aspects of the deal process – they contribute to investment theses, do their own diligence (no third-party consultants) partners solicit their feedback and there is significant portfolio company involvement post close. The firm fosters career-track associate roles with frequent direct promotion to Principal. BCP team members are bright, intellectually curious and hard-working.

Butterfly Equity is a Los Angeles-based private equity firm specializing in the food sector from seed to fork across the following key verticals: food & beverage products, food distribution, and foodservice. Their team has significant experience across food, private equity, and technology and has been involved in investing more than $10Bn of equity capital in companies ranging from growth-stage to Fortune 500 enterprises. The team has an abundance of institutional knowledge and have come from firms like KKR, Vista, TPG, Apollo, and Leonard Green, which often makes Butterfly the investor of choice among company managements in the food sector. The firm is investing out of its second fund, a $1Bn vehicle, which is double its prior fund. They also have the flexibility to do much larger deals due to special purpose vehicles they have raised and have a number of household brand names in their portfolio such as Pete and Gerry’s and Bolthouse Farms. Strong performing Associates will be on a career track with the opportunity for continued growth and advancement within the firm.

Founded in 1987, Carlyle is one of the world’s largest and most successful alternative asset management firms with $325Bn AUM.  Their Global Private Equity team has a flexible mandate and the ability to invest across the spectrum from growth to late-stage buyout deals.  The firm is investing out of Carlyle Partners VIII, which is a $14.8Bn vehicle raised in 2018, and they are currently in the market raising their next flagship fund, which is slated to be meaningfully larger and will include a significant allocation to growth deals. The team sits in three offices (NY, DC, Menlo Park) and is organized across five sector verticals. Candidates can be considered for multiple teams.

Aerospace, Defense and Government Services (ADS) – The ADS team at Carlyle is one of the most differentiated and coveted groups on Wall Street.  The ADS team sits at the firm’s headquarters in DC, which provides direct access to the firm’s senior leadership.  Carlyle ADS has a leading track record and has put more capital to work in their sectors than any other firm – in total, the team has deployed over $12Bn of capital across ~45 platforms and well over 100 deals (including add-ons).  Often misunderstood as focusing solely on traditional A&D, Carlyle’s ADS investments are heavily weighted towards cutting-edge Technology business (services, software, and products).  The ADS team deployed ~$3Bn of equity capital in 2022 (more than any other group at Carlyle), and all within Technology-enabled platforms (ManTech, CNSI / Kepro).  With an extensive legacy dating back to the founding of Carlyle, the team has been actively investing in the Aerospace, Defense and Government Services sectors for over 30 years.  Given the competitive advantage they’ve developed from their history and network, much of their deal flow is proprietary or in limited auctions.  The sectors they cover are experiencing what are expected to be multi-year tailwinds, in light of the global aerospace recovery, growth in cybersecurity and other critical national security needs, as well as a global increase in defense spending.  They currently have ~10 active portfolio companies and a lean team of ~15 investment professionals. The team has completed a number of high-profile investments, including Booz Allen Hamilton, StandardAero, Howmet and Titan.  Other recent transactions of note include the $4.2Bn take private of Mantech in 2022, the combination of CNSI / Kepro in 2022, the acquisition of Two Six Technologies (a high growth, tech-focused provider to the Intelligence Community, DoD & others) in 2021, and the recent exit of Novetta.  For those who have an interest in attending business school, the Carlyle ADS team has a 100% hit rate of prior Associates being admitted to one or more of HBS, GSB, and Wharton.

Financial Services – Carlyle is one of a handful of large private equity firms with a dedicated financial services team, focused exclusively on the financial services sector. Financial services operates as a core sector within Carlyle’s flagship fund family, currently investing out of Carlyle Partners VIII, L.P.  The Financial Services team has a global presence (portfolio spans the US and the UK, in particular), though the team is based in NYC. This team has an established history of investing in the space, having completed over 30 transactions and deployed over $6Bn of capital to-date. They have a flexible mandate, with check sizes ranging from $300M-$1.5Bn+ (can be larger inc. co-invest), and the ability to work on both minority and majority deals. Associates will have the opportunity to invest across the various verticals within Financial Services (including business services, asset and wealth management, insurance, depositories, specialty finance, financial technology, etc.). The team is also very lean, with 7 investment professionals above the Associate level, allowing Associates to take on outsized responsibility. Some recent notable deals include Captrust (wealth management), CFGI (accounting services), Hilb (insurance brokerage), NSM (insurance underwriting + brokerage), Vantage (insurance carrier), etc.

Healthcare – Carlyle has deployed $23bn globally in 90+ healthcare transactions across a range of deal sizes and transaction types, from growth minority investments to large-cap buyouts. The dedicated healthcare team invests across all verticals, including outsourced services & solutions, innovative & low-cost providers, HCIT & tech-enabled services, medical technology & products, life science tools and diagnostics, and pharma products. The team seeks investments that are “part of the solution,” targeting companies that reduce costs, improve quality of care, and increase access to healthcare. Example investments include PPD (take-private and recapitalization), One Medical (growth minority), TriNetX (growth buyout), and Medline (large-cap buyout). Associates will join a group that has invested 1/4th of the capital in recent funds and generated a leading track record in the industry.

Industrial – The Industrial team is a long-tenured, global team which sits at the firm’s headquarters in DC, providing direct access to the firm’s senior leadership.  The team invests across business cycles and end markets, including Automation, Automotive, Building Products, Capital Goods, Chemicals, Commercial Vehicles, Packaging, Services, and Transportation & Logistics.  With a flexible mandate, investments range from minority to majority deals and across various growth stages.  The group has had a particularly successful history with corporate carve-out transactions from larger corporations, which are responsible for nearly two-thirds of equity invested.  Carlyle excels in driving performance through multiple levers of value creation, including international expansion, new product development, M&A, and strategic positioning strategies. The Industrial team has deployed over $35Bn in capital, completed over 120 transactions to date. The Industrial team has completed some of the firm’s largest and most successful investments, and recent deals include Duravant, Asplundh, the carve-out of AkzoNobel’s Specialty Chemicals business, and carve out of Atotech from Total. The Industrial team at Carlyle has experienced consistently robust deal flow and benefited from strong continuity among team members throughout the ranks.

Technology – Technology is the largest segment of investments for Carlyle, and the Technology team has collectively invested $41Bn+ since inception in 313 deals, which is more than any other sector at Carlyle.  The portfolio includes investments across Software & Data, Tech-Enabled Services and Hardware.  The team has a flexible investment mandate, with transactions spanning from growth equity to late-stage buyouts.  They partner with strong partners and management teams at companies across various growth stages, from incumbent market leaders to disruptive businesses that are earlier in their trajectory.  Deals include levered / unlevered structures, minority / majority ownership, buy & build strategies, take privates / PIPEs, IPOs, and strategic sales.  Check sizes range from $100M-$2Bn, and the team has closed a number of notable platforms recently such as HireVue, Tribute Technology, Jagex, and ZoomInfo.  The team is based in the firm’s headquarters in DC and Menlo Park, and this opportunity is in DC, which provides direct access to the firm’s senior leadership.

Carlyle’s Direct Lending team is Carlyle’s Middle Market Lending platform that primarily invests in first-lien loans (i.e. unitranche and Annualized Recurring Revenue “ARR” loans) and primarily targets companies in the U.S. that lack access to the broadly syndicated loan and bond markets. The team does PE-style due diligence and can make investments across the capital structure, mainly in sponsor-backed companies. As of the end of 2023, the team advised a variety of BDCs, comingled funds, rated structures and separately managed accounts totaling an aggregate of over $11Bn in AUM. Associates are generalists and will have exposure to the various sectors in which Carlyle Direct Lending invests. The group is lean and the team sees a high level of deal velocity, and Associates are afforded the opportunity to own workstreams with limited oversight. For strong performers, this is a career track role.

Carlyle’s Global Credit platform is a global, multi-product, markets focused investment platform that manages over $180Bn in assets. Carlyle’s Opportunistic & Special Situations funds invest across the capital structure via a highly flexible mandate. O&SS focuses on providing bespoke capital solutions and transition capital to a range of borrowers. Investment professionals operate as sector generalists but have the opportunity to develop deep industry expertise through PE style diligence. The team manages ~$15Bn and has 35 investment professionals split across the US (20 IPs) and Europe (15 IPs). Investment professionals operate as sector generalists but have the opportunity to develop deep industry expertise through private equity style diligence. Carlyle’s opportunistic and special situations funds target mid-teens unlevered asset returns, just inside of traditional private equity returns, through enhanced structures, highly complex situations, misunderstood assets, and selective stressed / distressed situations. Strong performance has led to the most recent funds returning high teens gross IRRs to date. Investments have taken the form of preferred or convertible senior equity, a range of senior and subordinated debt, bespoke hybrid investments, and control equity, allowing the team to capitalize on a flexible mandate and take advantage of attractive investment opportunities. Carlyle’s opportunistic and special situations funds also have the flexibility to invest in the public markets opportunistically, and existing investments across the funds include over a dozen control equity positions. The funds have considerable dry powder, and Associates will have the opportunity to work on lean deal teams and a diverse array of transactions, with no two deals looking the same. Due to the size of the deal teams and opportunity set, Associates in the opportunistic and special situations funds are trusted with a high degree of responsibility and autonomy and are expected to lead key work streams for every investment.

Clarion Capital Partners is a NY-based middle market private equity firm founded in 1999. The firm’s target investment size is $15 to $75MM of equity into businesses with enterprise values of $75 to $200MM. Clarion’s generalist strategy utilizes a wide variety of investment structures and typically invests in entrepreneur and family-owned businesses or corporate carve-outs. Their investments from earlier this year include V10 Entertainment, a production company for unscripted content and Ready Credit, a payment solutions platform. The firm seeks to add Associates to the firm in 2025. While this is typically a 2-3 year Associate program, there is some precedent of promoting candidates to Sr. Associate and beyond.

Clearlake is a renowned, growing private equity firm that invests in the Software & Technology Services, Industrials and Consumer sectors. Based in LA, the firm has a unique, all-weather strategy that enables it to invest across the capital structure, lending itself to an active deal pipeline. Since Clearlake’s inception in 2006, the firm has made ~90 investments, spanning across control PE, transformative M&A, corporate carve outs, special situations, structured equity, and credit / distressed. In 2022, the firm closed its largest fund to date at $14.1Bn, which was significantly oversubscribed relative to the initial target of $10bn and double its fund prior ($7.1bn in 2020). They are already raising their next fund, with a $15Bn target, continuing their trend of successively larger fund sizes driven by strong, consistent performance. At Clearlake, Associates are exposed to a breadth of experience in terms of transaction structure and are given great amounts of responsibility due to lean deal teams and high exposure to senior members and founders of the firm. Additionally, Associates are given the opportunity to participate in externships with their portfolio companies in order to foster strong relationships and work closely with management teams.

Flexpoint Ford is a middle market private equity firm with a 19-year track record of investing in Healthcare and Financial Services companies, with offices in Chicago and New York. Flexpoint currently manages $7.9Bn in assets and is investing from funds focused on two separate investment strategies, Private Equity and Asset Opportunities, with the latter investing in opportunistic asset-driven investments across financial services. Since formation, Flexpoint has experienced continued growth in employee headcount and AUM and has a track record of investing in the healthcare and financial services industries. Additionally, the firm has a flexible investing mandate with the ability to make majority, minority, growth and LBO investments. The team is lean, and Associates are given a high level of responsibility. Additionally, Flexpoint Ford places a strong emphasis on Associate involvement, mentorship and career development, and has a positive culture that is highly collaborative.  The Financial Services team has 24 investment professionals and is based in NY and Chicago. The team is actively investing across targeted Financial Services subsectors (insurance and insurance services, asset/wealth management, capital markets technology, specialty finance, payments), and they also invest in Business Services and Software companies. One recent deal is Flexpoint’s investment in Baker Hill, a provider of cloud-based loan origination, risk management, and analytics software.

Flexpoint Ford is a middle market private equity firm with a 19-year track record of investing in Healthcare and Financial Services companies, with offices in Chicago and New York. Flexpoint currently manages $7.9Bn in assets and is investing from funds focused on two separate investment strategies, Private Equity and Asset Opportunities, with the latter investing in opportunistic asset-driven investments across financial services. Since formation, Flexpoint has experienced continued growth in employee headcount and AUM and has a track record of investing in the healthcare and financial services industries. Additionally, the firm has a flexible investing mandate with the ability to make majority, minority, growth and LBO investments. The team is lean, and Associates are given a high level of responsibility. Additionally, Flexpoint Ford places a strong emphasis on Associate involvement, mentorship and career development, and has a positive culture that is highly collaborative.  The Healthcare team has 12 investment professionals and is based in Chicago, with 1 team member in NY. The team is actively investing across targeted Healthcare sub-sectors (medical products, pharmaceuticals, life sciences provider businesses and healthcare services). One recent deal is Flexpoint’s investment in Parkview Health Services, a provider of specialized pharmacy services.

Founded in 1999, Greenbriar is a Middle Market Private Equity firm that has made over 115 platform investments and add-on acquisitions in services (software, logistics, distribution, and auto after-market parts) and high growth manufacturing businesses. The firm has decades of deep domain experience and long-standing relationships with industry leaders, creating a sourcing advantage that results in about ~50% proprietary deals. The firm has achieved top quartile performance, has meaningful dry powder, and has an incredibly collaborative and flat culture that emphasizes teamwork. In February 2023, Greenbriar raised their sixth fund, which closed at $3.5Bn (double the size of their prior fund). Notable Greenbriar investments include Uber Freight, Wineshipping, Towne Park, JEGS Automotive, and Oil Changers,. You may find a full list of Greenbriar’s investments here. The firm was recently awarded the Buyouts Large Market Deal of the Year. Greenbriar Associates actively participate in weekly investment committee meetings, portfolio company board meetings, deal sourcing activities, and internal strategy discussions. The firm has an exceptional culture focused on mentorship and apprenticeship and a lean team that offers a high level of responsibility. Greenbriar is looking to add Associates to the team who are analytical, intellectually-curious, and humble individuals who thrive when given outsized responsibility. Greenbriar is based in Greenwich, CT.

Founded in 2012, Miami-based I Squared is a leading independent global infrastructure investor. They are known for the development of investment platforms in infrastructure where they start small and grow big. They use global insights and deep local intelligence to solve complex problems, foster smarter businesses, serve local communities, and invest in a more sustainable future. Their investments cover a diverse range of sectors, encompassing energy infrastructure, utilities, transport and logistics, digital infrastructure, social, and environmental infrastructure. In 2022 I Squared closed Global Infrastructure III at $15Bn, exceeding their initial target of $12Bn.

Founded in 2006, Linden is one of the largest Healthcare exclusive private equity funds.  Based in Chicago, the firm focuses on making control-oriented investments in middle market companies across the Healthcare spectrum, including services, products and distribution.  They are currently investing out Fund V, which was oversubscribed at $3Bn (final close in December 2021) and double their fund prior.  Recent investments include Aptitude Health and StatLab Medical Products, and exits include HydraFacial and Z-Medica.  Linden is a young, growing, and dynamic organization with a lean team of ~25 investment professionals.  Associates gain a robust experience with strong deal flow and a high level of responsibility.  Linden’s positive culture is collaborative and places an emphasis on mentorship and career development.  Linden Associates have attractive exit opportunities (top business schools, Linden portfolio companies, other PE funds, potential to continue as Senior Associates with higher degrees of autonomy).

Silver Point Capital is a private investment firm focused on investing in global credit and special situations / distressed investments. The firm was founded in 2002 by Edward A. Mulé and Robert J. O’Shea, both previously Partners at Goldman Sachs, where they co-headed Goldman’s Special Situations Investing Business. Silver Point has approximately 90 investment professionals across two distinct investment teams, one focusing on Private Credit investments and the other focusing on Public Credit investments. Silver Point’s Private Credit team has experienced tremendous growth over the last two years and is looking to add investment professionals to the team for a near-term start. The team manages about $10Bn of capital, up from $2Bn in early 2020, and expects continued growth in the next few years. This team invests in distressed situations with a concentration in process-oriented investments. Associates on the team will have the ability to work on complex, deep fundamental analysis, coupled with actively driving processes in distressed and special situations investments. This new hire will have the ability to work on multiple transactions in any given year on lean deal teams of 2-3 people, covering multiple sectors on a global scale in this career track role and have the flexibility to be based in Greenwich, CT, Chicago, LA, or SF.

Silver Point Capital is focused on investing in global credit and special situations / distressed investments. The firm was founded in 2002 by Edward A. Mulé and Robert J. O’Shea, both previously Partners at Goldman Sachs, where they co-headed Goldman’s Special Situations Investing Business. Silver Point has approximately 90 investment professionals across two distinct investment teams, one focusing on Private Credit investments and the other focusing on Public Credit investments. The Public Credit team was launched in 2002 with the inception of the firm and currently manages about $13Bn. They invest throughout credit cycles, actively hedge its portfolio, and focus on investments where the team can take an active role in driving events or outcomes. Silver Point invests in distressed situations with a concentration in process-oriented investments. Associates are given a great amount of responsibility, working on complex structured deals across various sectors and geographies. Associates on the team will have the ability to work on complex, deep fundamental analysis, coupled with actively driving processes in distressed and special situations investments. The team is greatly focused on internal growth and mentorship in this career track role based in Greenwich, CT.

TPG Growth
Founded in 2007, TPG Growth has established itself as one of the most renowned growth and middle-market focused firms. Most recently, the firm closed Fund V ($3.6Bn 2021 vintage) and will be in the market later this year for Fund VI with a target size greater than Fund V.  With approximately $14.7Bn in assets under management the team has a broad, stage-agnostic investment mandate spanning from early-stage investments through middle market LBOs. The Associates on the team are verticalized and focus on 5 primary sectors: Internet, Media, Communications; Software & Enterprise Technology; Healthcare; Consumer; Business Services. The team is headquartered in San Francisco and also have an office in New York.

TPG RISE (https://therisefund.com/)
The RISE Fund was founded in 2016 and offers deep expertise in business solutions to help achieve the United Nations’ Sustainable Development Goals. RISE is a global scale impact investing platform that symbiotically addresses social issues and climate change. With ~$8Bn under management, The RISE Fund seeks to expand the reach of commercial capital and invest across a wide variety of sectors and countries at scale. The team is based in San Francisco with a presence in New York and is currently investing out of Fund III with $2.7Bn (2023 vintage). The team is in the market fundraising for Fund III, which is expected to be $3Bn.

TPG RISE Climate (https://therisefund.com/tpgriseclimate)
Launched in early 2021, TPG RISE Climate pursues investments that can enable carbon aversion in a quantifiable way and takes a broad sector approach, ranging from growth equity to value-added infrastructure across five climate sub-sectors: clean energy, enabling solutions, decarbonized transport, greening industrials, agriculture & natural solutions. The team is based in San Francisco with a presence in New York.  They recently closed Fund I at $7.3Bn in April 2022.

Vista is a leading global investment firm with over $100Bn in assets under management. The firm focuses on investments in enterprise software, data and technology-enabled organizations from lower-middle market and high-growth organizations to large cap enterprises. Vista’s approach to investing prioritizes creating value for the benefit of its global ecosystem of investors, companies, customers, and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Associates at Vista will have the opportunity to work across the firm’s flagship buyout team, their lower middle-market and middle-market team, and their growth equity team. Headquartered in Austin, Vista’s Associates can work in their Austin, Chicago, or San Francisco offices in this career-track role.

Warburg Pincus is a leading global private equity firm focused on growth investing. Warburg Pincus was founded 55+ years ago and is a global mega fund which has over $80+Bn in assets under management. Warburg invests in a variety of sectors including, Healthcare, Business Services, Industrials, Technology, Financial Services, and Energy (namely Energy Transition & Sustainability) and is stage agnostic, embodying a “one firm, one carried interest” model and mindset. The new Associate will be part of a tight-knit, collaborative team, and strong performers will have the opportunity for promotion. While it’s a 2-3 year program, there is an option to be promoted directly to VP or to return as a VP post-business school. The NY office focused on investment in Financial Services and Financial Services Capital Solutions⁽¹⁾, Healthcare, Energy, Industrials, Business Services and Technology. The SF office focuses on investments in Technology, and the Houston office focuses on investments in Energy.

⁽¹⁾Warburg Pincus’ Special Situations Group is part of their Financial Services growth PE team, but focuses on both equity and debt investments across opportunistic, stressed and distressed situations in Financial Services. They invest across capital structure, seeking to protect downside while retaining equity-like exposure to upside.