| Revision as of 07:25, 19 August 2014 editJnRouvignac (talk | contribs)Extended confirmed users710 edits Fixed internal link← Previous edit | Revision as of 12:26, 14 February 2015 edit undoMagioladitis (talk | contribs)Extended confirmed users, Rollbackers908,576 editsm clean up using AWB (10823)Next edit → | ||
| Line 1: | Line 1: | ||
| {{merge |
{{merge|Thoma Bravo|date=December 2011}} | ||
| {{Infobox |
{{Infobox company | ||
| |name = Thoma Cressey Bravo | |||
| |logo = ] | |||
| |type = ] Ownership, ] | |||
| |foundation = 1998 | |||
| founder = Carl Thoma, Orlando Bravo, Scott Crabill, Lee Mitchell <ref> Homepage (Company Website). Retrieved March 23, 2011</ref> | | |||
| location = ], ]<br>], ], United States |
|founder = Carl Thoma, Bryan Cressey | ||
| |location = ], ], ]<br>], ], United States | |||
| |industry = ] | |||
| |products = ], ]s | |||
| |assets = $1.5 billion | |||
| |homepage = | |||
| |num_employees = 20+| | |||
| }} | }} | ||
| ] | |||
| '''Thoma Bravo''' is a ] specializing in investing in ] in fragmented and consolidating industries.<ref> Retrieved March 23, 2011</ref> The firm and its predecessor firms are generally credited with devising the concept of consolidating companies in fragmented industries, according to the ].<ref>. Wall Street Journal, October 6, 1986</ref> | |||
| '''Thoma Cressey Bravo''', formerly '''Thoma Cressey Equity Partners''', is an American ] and ] firm based in ] and ]. {{As of|2008}}, the firm has raised more than $1.5 billion in investor commitments. | |||
| Thoma Bravo's investment strategy and process was developed more than 30 years ago and more recently has been refined through a series of ] representing almost $4 billion in committed capital.<ref> Answers.com, Retrieved March 23, 2011</ref> | |||
| The firm principally invests in high-growth industries, including ] and ]. | |||
| ⚫ | |||
| ⚫ | Thoma Cressey invests through a series of private ] and its investors include a variety of ], ] and other ]. Following its separation from ] (discussed below), Thoma Cressey has raised three ]s: | ||
| The firm has more than 25 employees and two offices - ] and ]. | |||
| * 1998 — Fund VI, ($450 million) | |||
| * 2001 — Fund VII ($555 million) | |||
| * 2006 — Fund VIII ($765 million) | |||
| ==History== | |||
| Thoma Bravo is a member of the ], the ] and the Illinois Venture Capital Association. | |||
| Thoma Cressey Equity Partners, which was renamed Thoma Cressey Bravo to reflect the growing role of partner Orlando Bravo, was founded in 1998 following the separation of ] (GTCR), a large Chicago-based private equity firm. | |||
| The firm's earliest predecessor Golder Thoma & Co. was founded in 1980 by ] and Carl Thoma. In the 1970s, Golder built the private equity program at ]<ref>Today part of ] through its acquisition of ]</ref> where he is noted primarily for backing ] and for efforts as chairman of the ] and the National Association of ] to change federal laws allowing pensions to invest in private equity.<ref>In 1978, the US Labor Department relaxed certain of the ERISA restrictions, under the "prudent man rule," a fiduciary responsibility of investment managers under ERISA. Under the original application, each investment was expected to adhere to risk standards on its own merits, limiting the ability of investment managers to make any investments deemed potentially risky. Under the revised 1978 interpretation, the concept of portfolio diversification of risk, measuring risk at the aggregate portfolio level rather than the investment level to satisfy fiduciary standards would also be accepted.</ref><ref>. Buyouts, January 24, 2000. A cached version of the article can be found </ref> Golder Thoma received much of its initial funding from ] and upon leaving First Chicago, Golder was replaced by ] who would go on to found rival Chicago private equity firm ]. | |||
| == Partners == | |||
| In 1984, after recruiting Bryan Cressey to join the firm from ], the firm's name was changed to Golder Thoma Cressey and with the promotion of ] to partner the firm would come to be known as Golder, Thoma, Cressey, Rauner, Inc. (GTCR), although it would still often be referred to as Golder Thoma.<ref name=donor>, a donor profile at the ] website</ref> | |||
| Thoma Bravo has six partners: managing partners Orlando Bravo, Scott Crabill, Lee Mitchell and Carl Thoma, plus partners Seth Boro and Holden Spaht.<ref> (Company Website). Retrieved March 23, 2011</ref> Boro and Spaht were promoted to partner in January 2011.<ref> PEHub.com, January 10, 2011</ref> | |||
| In 1998, disagreements between the senior partners led Golder, Thoma, Cressey, Rauner, Inc. split into two private equity firms. Both firms continue to invest primarily through consolidations of specific industries, referred to as ]: | |||
| == Funds == | |||
| * '''Thoma Cressey Equity Partners''', (Carl Thoma and Bryan Cressey) based in ] and ]. Thoma Cressey would be renamed Thoma Chressey Bravo to reflect the growing role of partner Orlando Bravo. | |||
| The firm’s most recent fund, Thoma Bravo Fund X, closed in February 2012 with $1.25 billion of capital and is currently being invested in companies within application and infrastructure software, education and business services sectors.<ref>. The Deal, February 29, 2012</ref> | |||
| *''']''', (] and ]), the $8 billion private equity firm, based in ], commonly referred to as GTCR. GTCR founder ] died in 2000 and today the firm is led by Bruce Rauner along with several partners (David Donnini, Ned Jannotta, et al.). | |||
| In 2008, Bryan Cressey left Thoma Cressey Bravo with several investment professionals to form Cressey & Co. a small healthcare focused private equity firm.<ref>, '']'', September, 2004 by Steve Daniels</ref><ref>"." Buyouts, June 23, 2008</ref> | |||
| Thoma Bravo Fund IX, closed in March 2009 with $822.5 million of capital.<ref>. Buyouts, March 30, 2009</ref> | |||
| Thoma Cressey Bravo became Thoma Bravo after Cressey’s departure, led by managing partners Carl Thoma, Orlando Bravo, Lee Mitchell and Scott Crabill. The firm closed its 9th fund in March 2009 with $822.5 million.<ref> Bloomberg, March 16, 2009</ref> | |||
| ⚫ | == |
||
| ⚫ | ==External links== | ||
| ⚫ | |||
| * (official website) | |||
| ⚫ | * (official website) | ||
| == |
==References== | ||
| {{reflist}} | {{reflist}} | ||
| {{Private equity |
{{Private equity firms}} | ||
| {{DEFAULTSORT:Private Equity Firm}} | |||
| ] | ] | ||
Revision as of 12:26, 14 February 2015
 | It has been suggested that this article be merged with Thoma Bravo. (Discuss) Proposed since December 2011. |
| Thoma Cressey Bravo | |
| Company type | Private Ownership, Limited liability company |
|---|---|
| Industry | Private Equity |
| Founded | 1998 |
| Founder | Carl Thoma, Bryan Cressey |
| Headquarters | Chicago, Illinois, United States San Francisco, California, United States |
| Products | Investments, private equity funds |
| Total assets | $1.5 billion |
| Number of employees | 20+ |
| Website | www.tcb.com |
Thoma Cressey Bravo, formerly Thoma Cressey Equity Partners, is an American private equity and growth capital firm based in Chicago and San Francisco. As of 2008, the firm has raised more than $1.5 billion in investor commitments.
The firm principally invests in high-growth industries, including health care and software.
Thoma Cressey invests through a series of private limited partnerships and its investors include a variety of pension funds, endowments and other institutional investors. Following its separation from GTCR (discussed below), Thoma Cressey has raised three private equity funds:
- 1998 — Fund VI, ($450 million)
- 2001 — Fund VII ($555 million)
- 2006 — Fund VIII ($765 million)
History
Thoma Cressey Equity Partners, which was renamed Thoma Cressey Bravo to reflect the growing role of partner Orlando Bravo, was founded in 1998 following the separation of Golder Thoma Cressey Rauner (GTCR), a large Chicago-based private equity firm.
The firm's earliest predecessor Golder Thoma & Co. was founded in 1980 by Stanley Golder and Carl Thoma. In the 1970s, Golder built the private equity program at First Chicago Corp. where he is noted primarily for backing Federal Express and for efforts as chairman of the National Venture Capital Association and the National Association of Small Business Investment Companies to change federal laws allowing pensions to invest in private equity. Golder Thoma received much of its initial funding from William M. Blair and upon leaving First Chicago, Golder was replaced by John Canning, Jr. who would go on to found rival Chicago private equity firm Madison Dearborn.
In 1984, after recruiting Bryan Cressey to join the firm from First Chicago, the firm's name was changed to Golder Thoma Cressey and with the promotion of Bruce Rauner to partner the firm would come to be known as Golder, Thoma, Cressey, Rauner, Inc. (GTCR), although it would still often be referred to as Golder Thoma.
In 1998, disagreements between the senior partners led Golder, Thoma, Cressey, Rauner, Inc. split into two private equity firms. Both firms continue to invest primarily through consolidations of specific industries, referred to as roll-ups:
- Thoma Cressey Equity Partners, (Carl Thoma and Bryan Cressey) based in Chicago and San Francisco. Thoma Cressey would be renamed Thoma Chressey Bravo to reflect the growing role of partner Orlando Bravo.
- GTCR Golder Rauner, (Stanley Golder and Bruce Rauner), the $8 billion private equity firm, based in Chicago, commonly referred to as GTCR. GTCR founder Stanley Golder died in 2000 and today the firm is led by Bruce Rauner along with several partners (David Donnini, Ned Jannotta, et al.).
In 2008, Bryan Cressey left Thoma Cressey Bravo with several investment professionals to form Cressey & Co. a small healthcare focused private equity firm.
Thoma Cressey Bravo became Thoma Bravo after Cressey’s departure, led by managing partners Carl Thoma, Orlando Bravo, Lee Mitchell and Scott Crabill. The firm closed its 9th fund in March 2009 with $822.5 million.
External links
- Thoma Cressey Bravo (official website)
- Thoma Bravo (official website)
References
- Today part of JPMorgan Chase through its acquisition of BankOne
- In 1978, the US Labor Department relaxed certain of the ERISA restrictions, under the "prudent man rule," a fiduciary responsibility of investment managers under ERISA. Under the original application, each investment was expected to adhere to risk standards on its own merits, limiting the ability of investment managers to make any investments deemed potentially risky. Under the revised 1978 interpretation, the concept of portfolio diversification of risk, measuring risk at the aggregate portfolio level rather than the investment level to satisfy fiduciary standards would also be accepted.
- Private Equity Pioneer Golder Dies. Buyouts, January 24, 2000. A cached version of the article can be found here.
- Stanley C. Golder, a donor profile at the UIUC website
- "Dealmakers' boot camp; Golder Thoma: A buyout industry proving ground", Crain's Chicago Business, September, 2004 by Steve Daniels
- "Personality Profile: Cressey Takes Specialization To The Next Level." Buyouts, June 23, 2008
- "Thoma Bravo Completes Fundraising" Bloomberg, March 16, 2009
| Private equity and venture capital investment firms | |
|---|---|
| Investment strategy | |
| History | |
| Investors | |