How Private Equity Firms Are Planning To Grow Revenues Next Year
Private equity firms provided insight into their investment strategies for 2020 with some key hires, according to Business Insider.
Private equity firms typically prefer hiring at the associate level and growing employees in their firm values and strategies. However, firms like KKR, Blackstone and The Carlyle Group hired outside individuals for areas including growth equity, impact investing, and overseas offices throughout Asia.
These new hires can provide perspective for what firms are targeting as they pursue growth and enter into new lines of business. One key hire was Blackstone bringing Jon Korngold on as the head of growth equity.
Korngold then went on to hire a former partner at The Carlyle Group, Ram Jagannath. Jagannath was hired to discover and pursue companies that had fast growth and increase investor sentiment regarding Blackstone Growth Equity.
KKR hired David Luboff from Macquarie Group, where he had 18 years of experience, to lead the Pan Asian operations of KKR's global infrastructure business. Later, KKR hired Kate Richdale from Goldman Sachs to become the head of strategy and business development in the Asia Pacific.
The Carlyle Group was looking to invest in clean energy and hired Pooja Goyal from Goldman Sachs. Goyal's new role is heading a division that is specifically targeting clean energy companies.
Private equity firms have deviated from their typical behavior and made some outside hires that could provide insight into their 2020 investment strategies.