TGIF, Hubsters! MK Flynn here with the Wire, as we wrap up the first week of 2022.
You probably already saw the U.S. Labor Department’s December jobs report with mixed results: unemployment went down; hiring slowed. It still feels like a good peg to share our own employment news. PE Hub is hiring! I joined the team last month as editor-in-chief, and this week, reporter Aaron Weitzman moved over from Buyouts to the Hub. Aaron and I are looking for some company, so if you know a good private equity reporter, send ‘em our way.
You can email me at mk.flynn@peimedia.com. And see our website for ongoing employment news in PE, including many firms hiring and promoting this week.
Experiences, not things. Today, we’re featuring a story by Aaron about Traub Capital Partners. Earlier in the week, the firm’s portfolio company Signature Brands bought gingerbread house kit maker Brand Castle. Aaron spoke with Traub investors about how their portfolio companies leverage interest in at-home activities during the pandemic. “The shift that has happened with the consumer is wrapped around mindfulness and also a shift from tangible to the less tangible asset,” Mortimer Singer, managing partner of Traub, said. “People who purchased a physical product 20 years ago are today more interested in buying services and products that will help forge experiences. It’s time well spent versus a good that will potentially expire and get out of date.”
Tech-enabled. PE Hub’s Outlook 2022 Q&A series with high-profile private equity professionals continues today with insights from Brad Bernstein, managing partner, FTV Capital. Founded as FTVentures in 1998, the New York firm backs high-growth companies in three sectors: enterprise technology and services; financial services; and payments and transaction processing. “Companies that serve the migration to e-commerce trade will be of great interest,” Bernstein said. “Whether it is AI-driven solutions that enhance the shopping/buying experience for consumers or companies that are fixing and enhancing the logistics challenges in our supply chain, these companies will have strong tailwinds and garner premium prices, given their growth and the large total addressable market they are tapping into.”
Nominations. We’re looking for your recommendations for rock star women in private equity, mostly on the deal side (which has been historically male-dominated). Deadline to get in your recs is January 17, for publication in March. Our annual Women in Private Equity project comprises 10 mini-profiles of highly regarded women in the industry and a feature story about some burning topic around the status of women in the industry. Check out our past coverage of Women in PE here. Reach Buyouts editor Chris Witkowsky with questions and recommendations at cwitkowsky@buyoutsinsider.com.
Deal of the Year: Get your nominations in now for your best exits (either full or majority) that closed in 2021. Awards are given in seven categories: overall deal of the year, large-cap, middle-market, small-cap, international, turnaround and secondaries. Deadline is Friday, Feb. 11. Send to Chris Witkowsky, private equity editor, at cwitkowsky@buyoutsinsider.com. Go here for all the rules and regs!
Bon weekend! If you missed our Outlook 2022 Q&As earlier in the week, see our interviews with The Riverside Company vice chairman Pam Hendrickson; Grain Management founder David Grain; and Monroe Capital president Zia Uddin. Check back next week for more Q&As. And in the meantime, have a great weekend, MK
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