Mark Tashkovich

A good article on GP led secondary vehicle considerations with market stats by Amir M. and Wade Cobb at Industry Ventures

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One of the most exciting questions from this interview was "what key attributes do private equity firms seek in targeting healthcare, biotech, and life science companies for acquisition?". Private equity firms are increasingly attracted to the healthcare, biotech and life sciences industries due to their resilience against economic cycles. Attributes that PE firms prioritize include: Stability and Growth Potential: Companies that demonstrate consistent revenue growth and have a solid track record of performance are highly attractive. The ability to withstand economic downturns and maintain steady growth is a crucial factor. Service and Software Focus: Companies that provide essential services and software solutions within the healthcare ecosystem are less vulnerable to regulatory changes and scrutiny, making them reliable investment targets. Regulatory Compliance and Low Risk: PE firms typically avoid companies with high science risk. Instead, they favor businesses with well-established products, services and technology. Specialization and Expertise: Many PE firms seek companies with specialized knowledge and capabilities that align with their strategic focus areas, ensuring they can add value and drive growth post-acquisition. Thank you to the Los Angeles Times for inviting me to participate in this issue! I am honored to be able to contribute to this piece. If you'd like to discuss any of the insights from this issue, reach out to me directly. #privateequity #lifesciences #healthcareservices #biotech #investmentbanking #businessvaluation

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The Silver Tsunami is upon us, and it's reshaping the mergers and acquisitions landscape like never before. With an estimated $10 trillion in assets set to change hands over the next decade, driven by baby boomers retiring, the opportunity for savvy investors and entrepreneurs is immense. Currently, around 30,000 businesses sell annually, but with more than 8 million baby boomer-owned businesses expected to transition, the volume of transactions could increase tenfold. This is a monumental shift that smart buyers are already preparing for. You don't need to be a Wall Street titan to benefit from this trend; many of these businesses will transition to local entrepreneurs and small business owners. Are you ready to seize a piece of this $10 trillion wealth transfer? Position yourself strategically to take advantage of this unprecedented wave of opportunities. Engage with fellow professionals and explore how you can be part of this transformation. Not sure how? Let's talk about it! #SilverTsunami #MergersAndAcquisitions #BusinessOpportunities

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We're proud to celebrate Sector Lead, Matt Witheiler's fourth consecutive naming to Forbes’ ‘The Midas List: The World’s Best Venture Capital Investors in 2024'. Kudos Matthew Witheiler - this is testament to your enduring impact on the late-stage VC industry. https://lnkd.in/eBdHwBG4 Wellington Management did not pay a fee to be considered. Winners were selected by a data-driven approach, the Midas List is produced from a combination of public data sources and the submissions of hundreds of investment partners across hundreds of firms each year. This award was announced on June 4, 2024, a submission made in January 2024 and is based on 5 years of trailing data. The award may not be representative of any one client’s experience. The award is not indicative of Wellington Management’s future performance. Past performance is no guarantee of future results.

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As the Shasta Ventures approval deadline approaches, we're presented with a unique opportunity to observe the complexities and inherent conflicts in GP-led secondary transactions. This scenario sheds light on the considerable leverage GPs hold within the private equity infrastructure. According to the article, proposed continuation fund requires LPs to approve the transaction if they wish to roll their interests into the new structure—a stipulation that could be seen as putting undue pressure on LPs. This raises critical questions about the balance of power in private equity deals and the alignment of interests between GPs and LPs. What are your thoughts? Is it appropriate for GPs to demand such conditions for LPs to participate in a continuation fund? How do you see this impacting the broader private equity landscape and the perception of GP-led secondary transactions? Looking forward to hearing your insights and perspectives on this pivotal issue. #PrivateEquity #VentureCapital #InvestmentTrends #ShastaVentures #GPledSecondaries

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The recovering deals market could get a lift from private equity-backed companies as early as the beginning of 2025. We outline what you need to know – plus what to look for in IPO candidates and portcos – in our capital considerations piece. https://lnkd.in/g-gw3hH5

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#Private_equity Private equity’s $2 trillion pile of cash is set to fuel M&A opportunities in 2025. Private equity firms are sitting on an unprecedented war chest: roughly $2 trillion in uncalled capital. Often referred to as “dry powder,” this cash pile has been accumulating since the last big global mergers-and-acquisitions blowout, in 2021, when volume reached a whopping $5.9 trillion, according to Dealogic. The following year, activity plummeted 38.8%, and it’s been relatively quiet ever since. “We had a general slowdown in private equity exits in 2023 and 2024,” says Alain Dermarkar, US co-head of Private Equity at global law firm A&O Shearman. High interest rates were an issue; steep borrowing costs and lower returns created valuation mismatches, ultimately reducing the size, scope, and appeal of private equity deals. https://lnkd.in/dzxSUYkP

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Reflecting on the enriching discussions at the recent PEWIN - Private Equity Women Investor Network CIO Roundtable in Boston. It was a joy to hear from panelists Letitia Johnson (Amherst College), Deb Shufrin (Colby College), Abigail Wattley (Williams College), and moderator Sarah Samuels, CFA, CAIA (NEPC, LLC). Some of my key takeaways: From the CIO perspective, alignment with the board is paramount. Portfolios experience ebbs and flows, emphasizing the necessity of a board committed to long-term strategies. Data underscores the repercussions of misalignment—allocators often undermine value by prematurely exiting positions for liquidity needs or reacting impulsively to market fluctuations. Across the board, CIOs prioritize firms that can articulate their competitive edge, foster sustainable organizations with top-tier talent, culture, and succession planning, and demonstrate agility in evolving markets. A robust LP base providing long-term support and institutional guidance is also crucial. Success isn't about funding billionaires—it's about supporting determined individuals committed to sustained success. Privates demand more than short-term commitment—they require a relentless desire to succeed over time. For a deeper dive into the role of CIO, I highly recommend The Counting House by Gary Sernovitz. #CIOInsights #PEWINRoundtable #InvestmentStrategies

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New research by Cambridge Associates and BCG shows that private equity and venture capital firms whose ownership is predominantly women or people of color may unlock access to differentiated deal flow for their limited partners and other investors. Read the full article here: https://ow.ly/TlZC50RQxvt

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#Bain_Capital BOSTON – November 18, 2024 – Bain Capital today announced it completed fundraising for its latest Global Special Situations Fund, bringing the total amount raised for its second vintage of funds to $9 billion. This capital base includes Global Special Situations Fund II, which received $5.7 billion in total commitments, inclusive of co-investments and separately managed accounts, and $3.3 billion from the firm’s previously closed Special Situations Asia and Europe regional funds. The successful fundraise positions Bain Capital as one of the largest special situations investors in the world. Bain Capital’s Special Situations strategy combines bespoke capital solutions with strategic partnership to meet the diverse needs of companies, entrepreneurs, and asset owners across all market cycles. The team brings together credit and equity expertise, as well as corporate and real asset capabilities, to provide solutions that cannot be met by traditional providers. With more than $20 billion total assets under management, the strategy brings a differentiated ability to provide both capital as well as operating value-add. https://lnkd.in/dr32itat

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It’s BOD & AGM season. After 9 BOD meetings and 7 AGMs there is a common theme. “Generally” Emerging Fund 1&2 managers w/o firm building experience; and Founders/ELTs who raised pre-seed generalist and family office party rounds at Seed or crossover/hedge fund capital at Series A. Same general dynamic… experience matters. #venturecapital #emergingmanagers #startups #familyoffices #lps

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Markets talk. We listen. We've from heard from capital allocators (#VC, #PrivateEquity, #FamilyOffices....even #VentureStudios, #Incubators and #Accelerators) that due diligence is a bottleneck to deal flow. It's time-consuming, expensive and often, subjective. We've launched #VentureIQ by the 9point8 Collective to directly address this problem. VentureIQ is an AI-enabled diligence solution that provides rapid scale diligence reports with exceptional fidelity and demonstrable cost efficiency - all within a single business day. We're in our soft launch, now. So, if you want to gain back valuable time and expose the long tail of deal flow diligence, shoot me a DM or visit VentureIQ.ai.

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-Looking forward to the panel at the Markets Group's Private Equity Boston Forum on Thursday morning. On the agenda for the panel: Given the current investment environment, how can we best invest, create value and find liquidity for our investors?

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I'm very excited to announce the official launch of my impact investment fund know.capital with a $250,000 donation to the Drexel Food Lab which was founded by the omnipotent and super human Jonathan Deutsch, Ph.D., CHE, CRC at Drexel University in 2014. These funds will help build out the physical plant at the lab which will expand its capacity and capabilities to work deeper with industry both large and small, and also create more amazing experiential opportunities for Drexel's undergrad, grad, and certificate students. Jon truly runs a unique and impactful program at Drexel University's College of Nursing and Health Professions, and I can't think of a better partner with whom to embark on this journey. know.capital is an investment fund that invests at least 2/3 of our fee revenue profits in creating and operating unique nonprofit and for-profit social impact initiatives while pursuing maximum return strategies for our investors who bear no financial sacrifice for our philanthropic work. I've been working on this for 12 years (no one has accused me of working fast), and this is a culmination of countless mistakes and trial and error, and just pain and suffering (honestly). And there is more discomfort ahead of course. The pain points that I'm addressing are two fold: 1) "impact investing" is ill-defined and the impact side of the equation is unclear, and 2) nonprofits suffer from structural liabilities of fragmentation, governance structure, and fundraising dynamic that potentially compromise the pursuit of their missions and their ultimate impact. These two pain points have to be addressed concurrently since there is no other mechanism that I've been able to come up other than what I know best (Wall Street's fee business model) that can act as a sustainable funding source for needed social solutions that may not have any ROI prospects. And we need to pay nonprofit professionals more if we are to attract the best talent. We can't ask people to sacrifice "for the greater good" when they are often doing thankless work, getting paid pauper wages, and worrying whether or not they can retire with any level of financial security. From an investor's point of view, it's important to point out that this is not a zero sum equation. We're just offering another solution to investors who may care about also making a social impact of some kind, but with no financial sacrifice (have cake and eat it too). One can still have a traditional wealth manager and investments, one can still donate money to a worthy nonprofit or a university endowment, etc. We just want to expand the pie of what social impact investing and philanthropy could mean, create solutions that can potentially be massively scalable, and direct capital and world-class talent to initiatives that can potentially make the world a better place. Imagine if "Wall Street" can do that. More to come!

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Secondaries and GP stakes are harmonious areas of investment: both capitalize on the growth in private markets… firms are increasingly recognizing the benefits that a partnership can bring in terms of providing capital and expertise.     Thanks to PEI for the feature and Ward Young for the partnership on the demand we’re seeing across the GP stakes landscape!  

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Great article - 100% agree with this. My question for the APAC market on the three trends highlighted in the article; Are APAC GPs willing to be more sophisticated with how they interact with the secondary markets and are they are willing to compromise on price when selling through secondary options? I think this is also a massive question facing other asset classes in APAC, Venture Capital for one - do funds also need to be more creative with exit opportunities as well given the usual methods are less tangible right now?

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Great evening with Nelson Chikusa as we discussed #raisingcapital from the perspectives of #privatecredit and buyouts.... over Xiao Long Bao 🥢 🥢 and Suntory Global Spirits There are five reasons to pitch private markets to private investors:   1️⃣ Easier regulatory access than in the past.  2️⃣ A new macro landscape that’s a ‘wake-up call’.  3️⃣ Better diversification than public markets.  4️⃣ Higher returns and performance resilience.  5️⃣ A broader spectrum of risk/return drivers for investors.    There are many new initiatives by global asset managers, such as the link-up between Capital Group and KKR to create ‘hybrid public-private investment solutions that will provide new ways for investors to incorporate private markets into their portfolios’.  Read more on this link ⬇️ https://lnkd.in/et9ae53Z & https://lnkd.in/eCChpW3y Likes, comments & connections are always welcome. If you’re sourcing the next deal, 📞 call us and join the group of global LPs with strategic insights. Fund Managers, explore www.clearglasscap.com for more info or 📨 [email protected] #dealmaking #raisingcapital #innovation #venturecapital #privateequity #storytelling Credits: Preqin KKR Capital Group

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😃 Want to learn more about have to navigate #privateequity landscapes as an #executive? Click to read this article by Gerald O'Dwyer, 'The PE Guru,' now! https://buff.ly/4b4e1Fj   💡To Learn More about BlackmorePartners at: https://buff.ly/42iNmB3

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