Later this morning, Grant Ave will announce the addition of Brian Berkin as a managing director. Grant Ave is a New York-based, lower mid-market, healthcare-focused private equity firm that was founded in 2019.
Berkin spent the past five-plus years at Tailwind Capital, first as principal and then moving up to partner, where he was in charge of coordinating all aspects of the investment process, including developing theses, identifying talent, managing diligence, structuring transactions and negotiating term sheets.
At Grant Ave as managing director, Berkin will work to implement the firm’s portfolio company growth playbook, based on six core tenets: human capital, operational efficiency, tech enablement, strategic sales and marketing, service or product line expansion, and M&A and de novos.
Berkin will report to Buddy Gumina, who started Grant Ave after nearly 20 years at Apax Equity Partners.
Expertise in healthcare and its sub-verticals is critical.
“Despite the turbulence of the past few years, we have been able to bring together energized and entrepreneurial individuals with strong healthcare experience who recognize they are truly building a great organization,” said Gumina.
There are many industries that have struggled in the human capital department, most notably healthcare. But the investing world has long been losing talent, especially to the tech industry. Today more than ever, the ability to not only attract talent but also retain it, is harder than ever.
“When we think about recruitment, professional capabilities as well as cultural fit are critical,” explained Gumina. “We have built a team of scrappy, entrepreneurial, and creative individuals with strong investing acumen that enables us to effectively execute our strategy in the lower mid-market buyout category.”
Gumina does not take his human capital for granted.
“Grant Avenue team members realize they can have a significant impact on the direction of the firm, and that they are appreciated and celebrated,” he said. “We take that to heart at Grant Avenue, where team members are mentored, know they have a direct impact, and have true ownership. In my view, successful firms must combine an excellent, supportive culture with a competitive economic package to build extraordinary, committed teams.”
Grant Ave pursues opportunities in the lower mid-market, with a focus on companies with approximately $5 million to $25 million of EBITDA across healthcare sub-sectors, including services, devices, pharma and pharma services and HCIT. The firm focuses on control buyouts, buy-and-builds, corporate carve-outs, joint-control partnership investments and special situations.
To learn more about Grant Ave’s investment strategy, read PE Hub’s profile of the firm’s healthcare investment approach here.