Berenson Capital’s MedSitter aims to keep patients safe; Q& As with Robert Reifman, Gretc hen Perkins and Brent Gledhill

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The Wire

Mar. 11, 2022

Berenson Capital’s MedSitter aims to keep patients safe; Q&As with Robert Reifman, Gretchen Perkins and Brent Gledhill

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

Keeping patients safe. As the senior population grows, many of us have loved ones who are in the hospital or in other care settings. Today in PE Hub’s ongoing series featuring PE firms investing in the healthcare sector, Aaron takes a close look at Berenson Capital’s recent investment in MedSitter, a remote patient monitoring (RPM) system.

For more, read the full story.

Women’s History Month. In the Wire throughout March, we’re highlighting the dealmakers PE Hub and Buyouts named Women in private equity: The class of 2022.

Today, take a look at Lauren Rich, director, Wafra, profiled by Chris. Rich focuses on investing in GP management companies, a strategy known as GP stakes investing.

For more, read the whole report, in which we profile 10 stellar dealmakers.

Recommended reading. Next week, we’ll be welcoming new reporters to the PE Hub and Buyouts team. We can’t wait to introduce them to you. They are eager to roll up their sleeves and dive into the world of private equity, and they’ve asked for suggestions of books to read. Chris is recommending the classic Barbarians at the Gate: The Fall of RJR Nabisco, by Bryan Burrough and John Helyar (Harper Business, December 1, 2009). I’m recommending What It Takes: Lessons in the Pursuit of Excellence, by Stephen A. Schwarzman, the founder of Blackstone (Avid Reader Press, September 17, 2019). What’s your favorite book about private equity? Email me your picks to @[email protected]

And if you’re looking for something to read this weekend while yet another winter storm keeps you indoors, check out my Q&A series with high-profile PE pros, including:

Robert Reifman, managing director, Lincoln International. “Proactivity is critical” when buying in the competitive industrials sector, Reifman told me. “Buyers don't have the time or resources to compete in a drawn-out auction process, instead finding themselves willing to pay a steeper multiple to ensure they will win the asset and take it off the table extremely quickly.”

Gretchen Perkins, partner, origination, Avance Investment Management. The former Huron Capital partner reflects on building a “different kind of PE firm” at Avance, now more than a year old. "The opportunity to be a part of something brand new in our industry really appealed to me," said Perkins about joining emerging manager Avance. "I was excited to be able to help our young firm establish our unique culture, contribute to creating our go-to-market strategy, and to help recruit more diverse talent to our firm."

Brent Gledhill, CEO, William Blair. “Valuation is a view of the future and growth is always the primary impact on valuations. Many sectors – consumer services, logistics, distribution, for example – are terrific sectors with higher valuations today that align with long-term trends. For instance, the growth rates and industry dynamics underpinning those sectors are yielding much greater efficiency and productivity, while demand is also growing.”

That’s all for today.

Stay safe this weekend,

MK

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

Technology and its adoption across industries like financial services and healthcare drove private equity to record heights last year, and ironically it may be technology investing that helps drive back valuations in the industry this year. (Buyouts)

Oaktree Capital targets up to $3bn for third special situations fund. Distress opportunities could open up in the months ahead as inflation, rate hikes and geopolitical disturbances – above all, the war in Ukraine – create more economic uncertainty. (Buyouts)

Alumni Ventures Group is the latest firm to feel the force of the US Securities and Exchange Commission as the financial regulator seeks to bring about the biggest changes to private markets for decades. (Private Equity International)