Probitas Partners
Encyclopedia
Probitas Partners is a global investment bank focused on raising capital as a placement agent
for private equity fund
sponsors as well as providing portfolio management and liquidity solutions, through the private equity secondary market
, for investors in private equity
. The firm operates through three primary businesses: fund placement, portfolio management and secondary advisory. The firm one of the most prominent independent placement agents in the US private equity industry.
The firm was founded in 2001 by three former members of the Private Funds Group of Credit Suisse First Boston
(formerly Donaldson, Lufkin & Jenrette
): Greg Hausler, Michael Hoffmann, and Craig Marmer. In 2002, the firm established a European placement business. Probitas currently has approximately 50 employees.
Probitas is also well-known for publishing surveys and white paper
s related to the private equity asset class and investors in private equity.
fundraising market, Probitas faces competition from large investment banks (most notably Credit Suisse
and UBS
as well as a range of boutique firms (e.g. Triago
, Atlantic-Pacific Capital
, Campbell Lutyens
and Park Hill Group, an advisory business owned by The Blackstone Group).
Within the secondary
advisory space, other advisors also include investments banks (Credit Suisse
and UBS), and dedicated boutique firms (e.g. Cogent Partners
), electronic exchanges (e.g. NYPPE), as well as other established fund placement agents (e.g. Triago
and Campbell Lutyens
).
Private placement agent
Private placement agent or placement agent is a firm assisting either funds managers in the alternative asset class or entrepreneurs/private companies Private placement agent or placement agent is a firm assisting either funds managers in the alternative asset class (e.g. private equity ,...
for private equity fund
Private equity fund
A private equity fund is a collective investment scheme used for making investments in various equity securities according to one of the investment strategies associated with private equity....
sponsors as well as providing portfolio management and liquidity solutions, through the private equity secondary market
Private equity secondary market
In finance, the private equity secondary market refers to the buying and selling of pre-existing investor commitments to private equity and other alternative investment funds....
, for investors in private equity
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....
. The firm operates through three primary businesses: fund placement, portfolio management and secondary advisory. The firm one of the most prominent independent placement agents in the US private equity industry.
The firm was founded in 2001 by three former members of the Private Funds Group of 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...
(formerly Donaldson, Lufkin & Jenrette
Donaldson, Lufkin & Jenrette
Donaldson, Lufkin & Jenrette or DLJ is a defunct U.S. investment bank founded by William H. Donaldson, Richard Jenrette and Dan Lufkin in 1959. Its businesses included securities underwriting; sales and trading; investment and merchant banking; financial advisory services; investment research;...
): Greg Hausler, Michael Hoffmann, and Craig Marmer. In 2002, the firm established a European placement business. Probitas currently has approximately 50 employees.
Business Lines
Probitas operates through three lines of business:- Probitas Funds Group identifies and raises capital for a select universe of alternative fund managers across multiple strategies. Among the notable private equity firms that Probitas has represented in fundraising are: Alta PartnersAlta PartnersAlta Partners is a venture capital firm based in San Francisco, CA. The company was founded in 1996 by Dr. Jean Deleage, Ph.D., who was also a founder of the venture capital firms Burr, Egan, Deleage & Co. and Sofinnova, together with Garrett Gruener, a former general partner at BEDCO.The company...
, CIVC PartnersCIVC PartnersCIVC Partners, previously known as Continental Illinois Venture Corporation, is a Chicago-based private equity firm that presently has over $1.3 billion of equity capital under management. The firm's predecessor was established in 1970 as a subsidiary of Continental Illinois National Bank and Trust...
, Granite VenturesGranite VenturesGranite Ventures is a venture capital firm with offices in San Francisco, California. Granite's predecessor H&Q Venture Associates, founded in 1992, was the venture capital investment arm of Hambrecht & Quist, a leading technology oriented investment bank...
, KRG CapitalKRG CapitalKRG Capital is a private equity firm focused on leveraged buyouts and more recently mezzanine capital in middle-market companies across a range of industries....
, Littlejohn & Co.Littlejohn & Co.Littlejohn & Co. is a private equity firm focused on leveraged buyout transactions, leveraged recapitalizations of middle-market companies and distressed securities. The firm focuses on companies requiring an operational turnaround particularly in a variety of industrial and service sectors.The...
, MidOcean PartnersMidOcean PartnersMidOcean Partners is a private equity firm specializing in leveraged buyouts, recapitalizations and growth capital investments in middle-market companies...
, and Panorama Capital.
- Probitas Secondaries Group serves as advisor to investors who seek liquidity from their alternative assets or to address portfolio construction objectives through secondary market transactionsPrivate equity secondary marketIn finance, the private equity secondary market refers to the buying and selling of pre-existing investor commitments to private equity and other alternative investment funds....
. Probitas has advised such notable companies as BoeingBoeingThe Boeing Company is an American multinational aerospace and defense corporation, founded in 1916 by William E. Boeing in Seattle, Washington. Boeing has expanded over the years, merging with McDonnell Douglas in 1997. Boeing Corporate headquarters has been in Chicago, Illinois since 2001...
and Bank of AmericaBank of AmericaBank of America Corporation, an American multinational banking and financial services corporation, is the second largest bank holding company in the United States by assets, and the fourth largest bank in the U.S. by market capitalization. The bank is headquartered in Charlotte, North Carolina...
- Probitas Portfolio Management provides management services to institutional investors for their alternative investmentAlternative investmentAn alternative investment is an investment product other than the traditional investments of stocks, bonds, cash, or property. The term is a relatively loose one and includes tangible assets such as art, wine, antiques, coins, or stamps and some financial assets such as commodities, private equity,...
portfolios.
Probitas is also well-known for publishing surveys and white paper
White paper
A white paper is an authoritative report or guide that helps solve a problem. White papers are used to educate readers and help people make decisions, and are often requested and used in politics, policy, business, and technical fields. In commercial use, the term has also come to refer to...
s related to the private equity asset class and investors in private equity.
Competitors
Within the private equityPrivate 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....
fundraising market, Probitas faces competition from large investment banks (most notably Credit Suisse
Credit Suisse
The Credit Suisse Group AG is a Swiss multinational financial services company headquartered in Zurich, with more than 250 branches in Switzerland and operations in more than 50 countries.-History:...
and UBS
UBS AG
UBS AG is a Swiss global financial services company headquartered in Basel and Zürich, Switzerland, which provides investment banking, asset management, and wealth management services for private, corporate, and institutional clients worldwide, as well as retail clients in Switzerland...
as well as a range of boutique firms (e.g. Triago
Triago
Triago is a leading global placement agent, specializing in raising capital for private equity investment firms from a range of institutional investors...
, Atlantic-Pacific Capital
Atlantic-Pacific Capital
Atlantic-Pacific Capital is a leading independently-owned placement agent. APC has established relationships with a network of institutional investors in North America, Europe, the Middle East, Australasia, and the emerging markets to which it markets private equity funds.Founded in 1995, APC has...
, Campbell Lutyens
Campbell Lutyens
Campbell Lutyens is an independent private equity advisory firm exclusively focused on primary fundraising and secondary transactions in the private equity and infrastructure markets...
and Park Hill Group, an advisory business owned by The Blackstone Group).
Within the secondary
Private equity secondary market
In finance, the private equity secondary market refers to the buying and selling of pre-existing investor commitments to private equity and other alternative investment funds....
advisory space, other advisors also include investments banks (Credit Suisse
Credit Suisse
The Credit Suisse Group AG is a Swiss multinational financial services company headquartered in Zurich, with more than 250 branches in Switzerland and operations in more than 50 countries.-History:...
and UBS), and dedicated boutique firms (e.g. Cogent Partners
Cogent Partners
Cogent Partners is a boutique, private equity-focused investment bank and advisory firm and was one of the first advisory firms dedicated to transactions in the private equity secondary market . The firm, which was founded in 2002, provides an array of sell-side advisory services such as secondary...
), electronic exchanges (e.g. NYPPE), as well as other established fund placement agents (e.g. Triago
Triago
Triago is a leading global placement agent, specializing in raising capital for private equity investment firms from a range of institutional investors...
and Campbell Lutyens
Campbell Lutyens
Campbell Lutyens is an independent private equity advisory firm exclusively focused on primary fundraising and secondary transactions in the private equity and infrastructure markets...
).
External links
- Probitas Partners (Company website)