History
Providence is led by Founder and CEO Jonathan M. Nelson. The firm raises investment funds from a broad array of institutional investors, including pension funds, endowments, sovereign wealth funds, financial institutions, insurance companies, fund of funds, and high net worth individuals.
Providence partners with companies across different stages in their development, from growth capital and complex recapitalizations of family-owned businesses to large buyouts and take-privates. The firm targets equity investments of $150 million to $800 million and can employ a variety of financing structures. Providence prefers to lead its investments, serve on company boards, and work collaboratively with company management.
In 2008, Providence hired Thomas Gahan as president of the firm’s new capital markets group. Prior to joining Providence, Mr. Gahan was head of Deutsche Bank’s corporate and investment banking in the Americas and chief executive officer of Deutsche Bank Securities. Providence’s capital markets group invests in the debt of media, communications, education and information companies worldwide.
Providence’s investments have included AutoTrader.com Group, Blackboard Inc., eircom, Hulu, Kabel Deutschland, VoiceStream (now T-Mobile USA), Warner Music Group, Western Wireless, and World Triathlon Corporation(Ironman), YES Network and ZeniMax Media.
Recent investments by the firm include The Chernin Group, GLM, UFO Moviez India (UMI), Study Group, and Virtual Radiologic. Providence’s recent exits by sale or IPO include Decision Recourses, MobileServ (Phones 4U), Bresnan Communications and Kabel Deutschland.
In September 2012, Providence sold a less than 10% stake in the firm to Florida’s state pension system and a sovereign wealth fund.
Read more about this topic: Providence Equity Partners
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