PE Today: Sagewind Joins Employee Equity Ownership Initiative
Plus, Bertram invests in home improvement business, and Yellow Wood closes its third fund
Read the top headlines from Tuesday, March 29, 2022 below:
Sagewind Capital Joins Private Equity for Greater Good Initiative
Private equity firm Sagewind Capital has announced its participation in the Private Equity for Greater Good initiative, which promotes equity ownership for employees of private equity-backed businesses. According to a press release, Sagewind is joining InTandem Capital Partners as a founding member of the program, which looks to address “the very serious societal problem of income and wealth inequality” by sharing the gains earned from portfolio company investments with employees of those portfolio companies beyond upper-management.
“Strong performance is driven by the intellect, commitment, and hard work of our team members, especially in the government services sector where we are primarily focused,” said Sagewind managing partner Steven Lefkowitz. “As such, we believe that if we do well, everyone involved in creating that success deserves to do well, and that sharing investment returns with the employees of our portfolio companies will result in improved operating and financial performance.
Bertram Capital Invests in Home Improvement Business TSR
Bertram Capital announced Tuesday (March 29) its investment in TSR Concrete Coatings, a company that provides concrete coating solutions for residential spaces including garages and basements. Financial terms of the deal were not disclosed. The investment marks Bertram’s eighth investment for its fourth fund. In a statement, Bertram Capital partner Tim Beerle described TSR as “one of the fastest-growing brands in the home improvement industry.”
Related content: Why Architecture, Engineering and Construction Is a Sector to Watch
Yellow Wood Closes Third Fund with $750 Million in Commitments
Yellow Wood Partners, a private equity firm targeting consumer brands, announced the closing of its third fund with $750 million worth of capital commitments. Fund III was oversubscribed and includes commitments from limited partners and several new investors comprised of family offices, university endowments and other institutional investors. Yellow Wood partner Dana Schmaltz said the fund is aligned with the firm’s long-term focus of “building a limited number of platforms where we can apply our intense operating focus in close collaboration with entrepreneurs and management teams to create value for our shareholders.”
