digplanet beta 1: Athena
Share digplanet:

Agriculture

Applied sciences

Arts

Belief

Business

Chronology

Culture

Education

Environment

Geography

Health

History

Humanities

Language

Law

Life

Mathematics

Nature

People

Politics

Science

Society

Technology

Providence Equity Partners LLC
Type Limited liability company
Industry Private equity
Founded 1989
Founder(s) Jonathan M. Nelson, CEO
Headquarters 50 Kennedy Plaza
Providence, Rhode Island
, USA
Key people Glenn M. Creamer, Senior Managing Director
Paul J. Salem, Senior Managing Director
Products Leveraged buyouts, Growth capital
Total assets $40 billion
Employees 240
Website www.provequity.com

Providence Equity Partners LLC is an American global private equity investment firm focused on media, communications, education and information investments. The firm specializes in leveraged buyout transactions as well as growth capital investments and has invested in more than 140 companies globally since its inception in 1989.[1][2]

The firm manages funds with over $40 billion in commitments, making it a large global player in the private equity industry. The firm also invests in credit funds through its Capital Markets group and affiliate, Benefit Street Partners.[3] Benefit Street Partners closed on a $1.75 billion middle market direct lending fund in April 2014.[4][5] Providence was one of the principal pioneers of a sector-based approach to private equity investing. The firm’s sixth fund, Providence Equity Partners VI, closed on $12 billion in 2007,[6] making it the largest sector-focused private equity fund ever raised.[7]

Providence is headquartered in Providence, Rhode Island with five additional offices in New York, London, Hong Kong, Beijing and New Delhi.

History[edit]

Providence is led by Founder and CEO Jonathan M. Nelson and Senior Managing Director Paul J. Salem. The firm raises investment funds from a broad array of institutional investors, including pension funds, endowments, sovereign wealth funds, financial institutions, insurance companies, fund of funds, and high net worth individuals.

Providence partners with companies across different stages in their development, from growth capital and complex recapitalizations of family-owned businesses to large buyouts and take-privates. The firm targets equity investments of $150 million to $800 million and can employ a variety of financing structures.[1] Providence prefers to lead its investments, serve on company boards, and work collaboratively with company management.[8]

In 2008, Providence hired Thomas Gahan as president of the firm’s new capital markets group.[9] Prior to joining Providence, Mr. Gahan was head of Deutsche Bank’s corporate and investment banking in the Americas and chief executive officer of Deutsche Bank Securities. The credit platform has 18 investment professionals based in the firm’s New York office.[10]

Providence’s investments have included AutoTrader.com Group, Blackboard Inc., eircom, Hulu, Kabel Deutschland, MLS Media, NEW Asurion, Newport Television, Univision, VoiceStream (now T-Mobile US), Warner Music Group, Western Wireless, and World Triathlon Corporation (Ironman), YES Network, and ZeniMax Media.[11]

Recent investments by the firm include Ambassador Theatre Group, Altegrity Inc., Miller Heiman, Learfield Communications, The Chernin Group, GLM, UFO Moviez, and Study Group.[12][13][14] Providence’s recent exits by sale or IPO include iQivi, Hulu, YES Network, Decision Recourses, MobileServ (Phones 4U), Bresnan Communications, and Kabel Deutschland.[1][15][16][17] In March 2013, Providence and the National Football League formed a global partnership to invest primarily in sports and entertainment related media assets.[18]

In September 2012, Providence sold a less than 10% stake in the firm to Florida’s state pension system and a sovereign wealth fund.[19]

Senior Advisors[edit]

Senior Advisors that work with the firm on new investment opportunities and certain of the firm’s existing investments, include:

References[edit]

  1. ^ a b c "Company Overview of Providence Equity Partners LLC". Bloomberg Businessweek. Retrieved 2012-09-21. 
  2. ^ "Providence Equity buys Star India's stake in Star CJ". afaqs!. June 6, 2014. 
  3. ^ Ken MacFadyen (January 21, 2010). "Providence Expands Capital Markets Arm". Leveraged Finance News. 
  4. ^ Matthew Sheahan (April 10, 2014). "Benefit Street Closes $1.75B Credit Fund". Leveraged Finance News. 
  5. ^ Chris Witkowsky (April 10, 2014). "Providence Equity debt arm hits $1.75 bln hard cap on Fund III". PeHUB. 
  6. ^ "Providence Equity Raises $12 Billion Buyout Fund". The New York Times. February 21, 2007. 
  7. ^ "Private Equity International magazine's ranking of the world's largest private equity firms.". PEI - Alternative Insight. May 1, 2008. 
  8. ^ "About Us". Provequity.com. Retrieved 2012-09-14. 
  9. ^ "Movers & shakers: Sept. 26, 2008". The Deal (magazine). September 26, 2008. 
  10. ^ "PROVIDENCE EQUITY PARTNERS NAMES RICHARD BYRNE PRESIDENT OF CREDIT INVESTMENT ARM, BENEFIT STREET PARTNERS". Providence Equit Partners. March 19, 2013. 
  11. ^ Phil Wahba (June 25, 2014). "Private equity fuels Ironman triathlon organizer's gauntlet". Fortune. 
  12. ^ Anne-Sylvaine Chassany (October 21, 2013). "Providence buys Ambassador Theatre Group for £350m". Financial Times. 
  13. ^ LEARFIELD MEDIA SERVICES (September 10, 2013). "Shamrock Capital to sell Learfield to Providence Equity". The Southern Illinoisan. 
  14. ^ "Providence Equity Partners Acquires Miller Heiman". PR Newswire. January 9, 2013. 
  15. ^ "Recent News". Provequity.com. Retrieved 2012-09-14. 
  16. ^ "Baidu Buys iQiyi.com from Providence Equity". PE HUB. November 2, 2012. 
  17. ^ Andy Fixmer (October 13, 2012). "Providence Said to Sell 10% Hulu Stake for $200 Million". Bloomberg Businessweek. 
  18. ^ Nadia Damouni (March 18, 2013). "NFL, Providence Equity form strategic investment partnership". Reuters. 
  19. ^ "Providence Equity Said to Sell Stake in Firm to Investors". Bloomberg Businessweek. September 25, 2012. 

External links[edit]


Original courtesy of Wikipedia: http://en.wikipedia.org/wiki/Providence_Equity_Partners — Please support Wikipedia.
This page uses Creative Commons Licensed content from Wikipedia. A portion of the proceeds from advertising on Digplanet goes to supporting Wikipedia.
1236 videos foundNext > 

The Importance of Building a Diversified Portfolio - John Hahn, Providence Equity Partners

SuperReturn International - http://www.informaglobalevents.com/ytsrivep John Hahn (Providence Equity Partners) and Mark O'Hare (Preqin) at SuperReturn Intern...

Jonathan Nelson, Providence Equity Partners

Jonathan Nelson, CEO, Providence Equity, PartnerConnect, NYC 2012.

[vreaideas] Providence Equity Partners Providence, United States

Target Industries: Communications Media Average Investment Size: $150-$800M Fund Size: $28000M Geographic Presence: AsiaEuropeInternationalNorth America Cli...

Education Software, Blackboard Acquired by Providence Equity Partners

Blackboard Inc. (NASDAQ:BBBB) has been acquired by Providence Equity Partners for $1.64 billion dollars in cash. Providence will also manage $130 million dol...

New Directions in Private Equity

Speakers: Leon Black, Chairman and CEO, Apollo Global Management, LLC David Bonderman, Founding Partner, TPG Capital Jonathan Nelson, Founder and CEO, Provid...

Providence Equity Partners tipped to make an investment in WIND Mobile

Providence Equity Partners tipped to make an investment in WIND Mobile.

Providence Equity Buying SRA International For $31.25 Per Share (SRX)

SRA International (NYES:SRX) agreed to be bought by Providence Equity Partners for $1.88 billion in cash, the company announced today. Providence Equity will...

Miami Bad Credit Unsecured Personal Loan Options - Low Credit Score Help

http://www.subprimeblogger.com/?p=3357 - Many in Dade, Broward or Palm Beach County in the Miami area are looking for bad credit help. This video helps bad c...

SRA International Tops 9% Following Merger With Providence Equity Affiliate

Shares of SRA International (SRX) are up 9.5%, or $2.68, to $31.04 after it announced it has entered into a definitive merger agreement under which SRA will ...

Jonelle Procope & Richard Parsons

Richard Parsons of Providence Equity Partners presents a 2014 Matrix Award to Jonelle Procope, President and Chief Executive Officer, Apollo Theater Foundati...

1236 videos foundNext > 

89 news items

MobileSyrup.com

MobileSyrup.com
Tue, 29 Jul 2014 14:12:00 -0700

The saga to become Canada's fourth national wireless player continues. The latest report, courtesy of Bloomberg, suggests that US-based Providence Equity Partners Inc., is considering investing an unknown amount into WIND Mobile. Providence has ...
 
Linex Legal (press release) (registration)
Fri, 15 Aug 2014 12:07:30 -0700

Clifford Chance advises sellers Providence Equity Partners and Airbridge in sale of majority stake in CDS Topco B.V. to Astorg PartnersClient Work15 August 2014Clifford Chance, AmsterdamClifford Chance advised the sellers Providence Equity Partners ...

StarPhoenix

StarPhoenix
Thu, 31 Jul 2014 00:46:00 -0700

Providence Equity Partners Inc. is considering acquiring a stake in Canadian wireless provider Wind Mobile, people with knowledge of the matter said, as Canada continues its effort to create a fourth national carrier. Providence, with a track record of ...
 
The Globe and Mail
Fri, 08 Aug 2014 01:26:15 -0700

Since then, he has assembled a team that includes former colleagues as well as industry experts from firms such as KKR & Co. and Providence Equity Partners. Together they are searching for large deals, hoping to write equity cheques of between ...
 
EducationInvestor
Wed, 20 Aug 2014 08:00:00 -0700

... likely to take several weeks to complete. Bowmark is understood to have seen off bids by other investment firms including Providence Equity Partners, TA Associates and Equistone Partners. Sovereign bought a majority stake in BIMM for £10 million in ...
 
Yahoo Finance UK
Tue, 19 Aug 2014 10:15:00 -0700

Bowmark, which is an investor in the Las Iguanas restaurant chain, has seen off competition from a clutch of other investment firms, including Providence Equity Partners, which owns Galileo Global Education, a higher education provider; TA Associates, ...
 
Broadband TV News
Mon, 28 Jul 2014 13:36:53 -0700

M7Group_logo Astorg Partners will acquire a majority stake in CDS Topco BV, a retail and wholesale supplier of DTH services known under the name of M7. The shares are acquired from Providence Equity Partners. Following the closing of the transaction, ...
 
Bloomberg View
Fri, 08 Aug 2014 08:33:45 -0700

Contrast that with World Triathlon Corp., owned since 2008 by Providence Equity Partners, which has added 50 events around the world in the past six years; USA Triathlon, governing body for the sport in the U.S., has quadrupled its membership since ...
Loading

Oops, we seem to be having trouble contacting Twitter

Talk About Providence Equity Partners

You can talk about Providence Equity Partners with people all over the world in our discussions.

Support Wikipedia

A portion of the proceeds from advertising on Digplanet goes to supporting Wikipedia. Please add your support for Wikipedia!