Good morning, Dealmakers. MK Flynn here in New York with the US edition of the Wire.
Senior reporter Michael Schoeck, who usually writes the Tuesday US Wire, has the morning off. He’ll bring you the US Wire on Thursday, as usual. Check back then when Michael will provide his weekly update on companies coming to market, based on confidential sources he’s developed over the many years he’s been covering M&A.
Today on the Hub, we’re focusing on the middle market – and the opportunities for digitalization in it. That’s the focus of emerging manager BayPine. Below,I’ll share excerpts frommy interview of Anjan Mukherjee, co-founder and managing partner.
I’ll also share snippets from a video conversation between Eneasz Kadziela, head of private equity and deputy CIO for the New York City comptroller, and Chris Witkowsky, private equity editor, PEI Group, that took place at NEXUS 2025. Kadziela outlines what LPs are looking in GPs today.
Also below, I’ve got a brief preview of PEI Group’s Investor Relations Network’s New York Forum,where I’ll be conducting Fireside Chats this week.
The other 90 percent
PE Hub’s series of Q&As with private equity thought leaders continues today with Anjan Mukherjee, co-founder and managing partner, BayPine.
The Boston-based private equity firm was founded by Mukherjee, a former Blackstone senior managing director and US Treasury Department official, and David Roux, a Silver Lake co-founder and former co-CEO.
BayPine raised about $3 billion in 2022 across its inaugural fund and related co-invest vehicles, as Buyouts reported at the time. The strategy is focused on digital transformation; BayPine invests in non-technology or “core-economy” companies and seeks to create value by helping these companies modernize and effectively apply technology to their businesses.
Upgrade to the premium version of the Wire to read excerpts from the Q&A, including what mid-market companies stand to gain from AI.
Identify the ultimate buyer
New York City’s pension system, which comprises five separate funds that manage around $280 billion in net asset value, is putting out $7 billion to $8 billion a year in private equity through fund and co-investments.
Question is, what is the system looking for out of its GPs? Eneasz Kadziela, head of private equity and deputy CIO for the city comptroller, which manages the pension system, explained in a recent interview that one major factor is a proven track record of exits. He spoke with Chris Witkowsky, private equity editor, PEI Group, at NEXUS 2025.
To read Kadziela’s advice for GPs, upgrade to the premium version of the Wire.
IRNY2025
This week marks the 20th anniversary of PEI Group’s Investor Relations Network’s New York Forum!
I’ll be at the event, moderating the Keynote Fireside Chats on Wednesday and Thursday mornings.
On Wednesday, I’ll interview Kristin Custar, partner, head of the global investor capital group, The Jordan Company, about building resilient relationships with investors.
And on Thursday, I’ll interview Tom Eckersley, head of marketing and external affairs, Hg, about brand evolution during market revolution.
One of the themes we’ll be discussing at IRNY2025 is the rise of the private wealth channel – and how PE firms will need to evolve their investor relations strategies to meet the needs of high-net-worth individuals.
That’s a topic I’d love to hear from all of you about. Send me your insights at mk.flynn@pei.group.
IRNY2025 will also feature opportunities for industry connection, including an interactive Breakfast of Champions, our 20th Anniversary Reception, and the results of PEI’s Investor Relations and Marketing Compensation Survey.
I hope to see you there!
On the Hub, Craig McGlashan will bring you the Europe Wire tomorrow morning, and Rafael Canton will bring you the US edition.
Cheers, MK
Read the full Wire commentary on PE Hub ...
