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Vistria invests in healthcare for profit and purpose; PEI’s IR conference is hopping!

LPs expect more frequent communication and tighter messaging.

Good morning, Hubsters. MK Flynn here with today’s Wire.

Today is the second day of the 17th annual Investor Relations, Marketing & Communications Forum, hosted by PEI Media, owner of PE Hub and Buyouts.

I was at the conference yesterday, and the energy was terrific! For many attendees, including myself, it’s the first in-person conference in two years. It felt great to see people face to face.

I enjoyed moderating the keynote panel on how the past two years have redefined the IR role. We heard significant insights from the panelists: Shavonne Correia, head of investor relations and marketing, KPS Capital Partners; Jennifer James, managing director, chief operating officer and head of investor relations and marketing, Thoma Bravo; Gina Lee Peyton, partner, capital formation, Castlelake; and Nathan Urquhart, partner and global head of investor relations, Carlyle.

One message I heard loud and clear: Expectations for communication are higher than ever. LPs expect more frequent communication and tighter messaging. One LP expressed frustration that some GPs are sloppy – missing deadlines and delivering lackluster presentations. “Go back to the basics,” she advised.

IR pros at the conference recommended more media training for PE firm leaders. “Zoom is here to stay,” they said.

Another thing that’s here to stay: Streaming of annual general meetings.

Networking. Association for Corporate Growth’s InterGrowth is back, and our reporter Aaron Weitzman will be there in Las Vegas April 25-27. He’d love to connect with PE dealmakers. If you’re heading there too, email him at aaron.w@peimedia.com to set up a meeting.

Purpose and profit. In our ongoing series of profiles on private equity firms investing in healthcare, Aaron spoke with a trio of partners from the Vistria Group: Amy Christensen, whom we recognized on Buyouts’ class of 2022 top women in PE, Jon Maschmeyer and David Schuppan.

“Our focus on making an impact and investing at that intersection of profit and purpose has resonated with the types of companies that we’re looking to invest behind – the ones that want to provide access to great quality care in a cost-effective way and are looking for a partner that’s aligned with that passion and vision,” Christensen said.
Vistria is investing in behavioral health services.

“The convergence of decreased stigma, increased public awareness, more favorable reimbursement and, coming out of the pandemic especially, an increased need for mental and behavioral healthcare, creates opportunities to invest in companies that are providing ‘high quality, evidence-based treatment’ that are looking to grow so that more people can get access to the care that they really need,” she said.

“We are especially focused on companies that are working with kids and teens, who were disproportionately impacted by the pandemic, and people who are suffering from substance use disorder and co-occurring mental and behavioral health conditions, who want to stay in their homes and communities but also get access to high-quality treatment.”

Read the full story here.

BD pros. I’m pleased to see my friend and former colleague Rich Grant recognized on a list of Private Equity Business Development Professionals to Watch, published by ACG’s Middle Market Growth. Grant is the director of business development for Northlane Capital Partners, which he joined in February 2021. “Grant brings extensive experience to Northlane from adjacent roles in the dealmaking community,” says the article. “Grant has used his deep sales training and understanding of the complex middle-market ecosystem to develop a more systematic, consistent approach to tracking and nurturing relationships with intermediaries. While Northlane has traditionally been more transaction-focused, Grant has brought a new perspective regarding the importance of relationships to increase deal flow and open up new opportunities.” Previously, he worked as director of business development for consulting firm Growth Operators and before that, he worked with me at Mergers & Acquisitions, where he was a senior sales manager.

That’s all for now.

Until tomorrow, MK