Traub bets on experiences, not things; FTV eyes e-commerce; and PE Hub is hiring

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The Wire

Jan. 7, 2022

Traub bets on experiences, not things; FTV eyes e-commerce; and PE Hub is hiring

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 reporter, send ‘em our way. You can email me at [email protected]. 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.

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.

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 [email protected].

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 [email protected]. 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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Also of note (may require subscriptions)

"Private equity may team up with French retailer Auchan in a bid for rival Carrefour. It would be an awkward marriage of convenience." (Bloomberg Opinion)

"Since it launched in April 2020, Arctos — which has $3bn in assets under management — has become the most prolific buyer of sports stakes around the world. [A slew of deals] have placed it in the vanguard of a small batch of private equity operators who believe valuations for sporting assets will continue to rise at rapid rates, bolstered by the soaring market for media rights and real estate and the influx of new revenue streams, from NFTs to sports betting." (Financial Times)

New York Times Co. to Buy The Athletic for $550 Million in Cash (New York Times)