Chicago Growth Partners
Encyclopedia
Chicago Growth Partners is a private equity
firm focused on growth capital
investments in middle-market companies across a range of industries.
The firm, which is based in Chicago, Illinois, was founded in 2004 although the group traces its roots back to the founding of William Blair Capital Partners in 1982. The Chicago Growth Partners and its predecessor have raised approximately $1.8 billion since inception across nine funds. The team had raised and deployed six funds as the core group behind William Blair Capital Partners. William Blair Capital Partners VII, which closed in 2001 with $403 million was the final fund raised within the William Blair Capital Partners platform.
. During the 1980s, WBCP was an active investor in leveraged buyout transactions.
In 2004, the senior partners of William Blair Capital Partners completed a spin out
from William Blair to form a new firm, Chicago Growth Partners. The primary motivation for the departure of the Chicago Growth Partners team from William Blair was to gain access to a more diversified base of institutional investor
s that was limited by the group's involvement with the investment bank.
The spinout of Chicago Growth Partners from William Blair & Company
came at the same time as the spinouts of private equity groups from other leading investment banks including: JPMorgan Chase (CCMP Capital
), Citigroup
(Court Square Capital Partners
), Deutsche Bank (MidOcean Partners
), Morgan Stanley
(Metalmark Capital
) and Credit Suisse First Boston
(Avista Capital Partners
, Diamond Castle Holdings
).
In August 2006, the remaining partners of William Blair Capital Partners suspended efforts to raise William Blair Capital Partners VIII, which had been reportedly targeted at about $250 million. The remaining team left William Blair to found a new private equity firm, Seyen Capital.
In April 2008, Chicago Growth Capital completed fundraising for its second fund as an independent firm with $500 million of investor commitments
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
firm focused on growth capital
Growth capital
Growth capital is a type of private equity investment, most often a minority investment, in relatively mature companies that are looking for capital to expand or restructure operations, enter new markets or finance a significant acquisition without a change of control of the business.Companies...
investments in middle-market companies across a range of industries.
The firm, which is based in Chicago, Illinois, was founded in 2004 although the group traces its roots back to the founding of William Blair Capital Partners in 1982. The Chicago Growth Partners and its predecessor have raised approximately $1.8 billion since inception across nine funds. The team had raised and deployed six funds as the core group behind William Blair Capital Partners. William Blair Capital Partners VII, which closed in 2001 with $403 million was the final fund raised within the William Blair Capital Partners platform.
History
William Blair Capital Partners was founded in 1982 to serve as the investment arm of William Blair & CompanyWilliam Blair & Company
William Blair & Company is privately held employee-owned financial services firm that provides investment banking, equity research, brokerage, asset management and private capital services.William Blair & Company, L.L.C. was founded in 1935...
. During the 1980s, WBCP was an active investor in leveraged buyout transactions.
Spin out
A spin-out, also known as a spin-off or a starburst, refers to a type of corporate action where a company "splits off" sections of itself as a separate business....
from William Blair to form a new firm, Chicago Growth Partners. The primary motivation for the departure of the Chicago Growth Partners team from William Blair was to gain access to a more diversified base of institutional investor
Institutional investor
Institutional investors are organizations which pool large sums of money and invest those sums in securities, real property and other investment assets...
s that was limited by the group's involvement with the investment bank.
The spinout of Chicago Growth Partners from William Blair & Company
William Blair & Company
William Blair & Company is privately held employee-owned financial services firm that provides investment banking, equity research, brokerage, asset management and private capital services.William Blair & Company, L.L.C. was founded in 1935...
came at the same time as the spinouts of private equity groups from other leading investment banks including: JPMorgan Chase (CCMP Capital
CCMP Capital
CCMP Capital is a private equity investment firm that focuses on leveraged buyout and growth capital transactions. Formerly known as JP Morgan Partners, the investment professionals of JP Morgan Partners separated from JPMorgan Chase on July 31, 2006. CCMP has invested approximately $12 billion...
), Citigroup
Citigroup
Citigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate...
(Court Square Capital Partners
Court Square Capital Partners
Court Square Capital Partners is a private equity firm focused on leveraged buyout transactions. Court Square was originally a captive private equity firm within Citigroup known as Citigroup Venture Capital Equity Partners...
), Deutsche Bank (MidOcean Partners
MidOcean Partners
MidOcean Partners is a private equity firm specializing in leveraged buyouts, recapitalizations and growth capital investments in middle-market companies...
), Morgan Stanley
Morgan Stanley
Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
(Metalmark Capital
Metalmark Capital
Metalmark Capital, formerly Morgan Stanley Capital Partners is a private equity firm focused on leveraged buyout investments in middle-market companies across a range of industries. Metalmark was acquired by Citigroup Alternative Investments in December 2007....
) and Credit Suisse First Boston
Credit Suisse First Boston
Credit Suisse First Boston was the former name of the banking firm Credit Suisse.-History:In 1978, Credit Suisse and First Boston Corporation formed a London-based 50-50 investment banking joint venture called the Financière Crédit Suisse-First Boston...
(Avista Capital Partners
Avista Capital Partners
Avista Capital Partners is a private equity firm focused on growth capital and leveraged buyout investments in middle-market companies in the energy, healthcare and media sectors....
, Diamond Castle Holdings
Diamond Castle Holdings
Diamond Castle Holdings is a private equity firm focused on leveraged buyout and growth capital investments in middle-market companies across a range of industries including the media, healthcare, financial services, power and industrial sectors....
).
In August 2006, the remaining partners of William Blair Capital Partners suspended efforts to raise William Blair Capital Partners VIII, which had been reportedly targeted at about $250 million. The remaining team left William Blair to found a new private equity firm, Seyen Capital.
In April 2008, Chicago Growth Capital completed fundraising for its second fund as an independent firm with $500 million of investor commitments
External links
- Chicago Growth Partners (company website)