| Type | Private |
|---|---|
| Industry | Private Equity |
| Founded | 1980 |
| Founder(s) | Stanley Golder, Carl Thoma, Bryan Cressey, Bruce Rauner |
| Headquarters | Chicago, Illinois, United States |
| Products | Leveraged buyout, Rollup |
| Total assets | $8 billion |
| Employees | 80+ |
| Website | www.gtcr.com |
GTCR LLC is a private equity firm focused on leveraged buyout, leveraged recapitalization, growth capital and rollup transactions. As of 2008, it manages more than $8 billion in equity and mezzanine capital invested in a wide range of companies and industries.[1]
The firm principally invests in high-growth industries, including business services and outsourcing, consumer products and services, health care, technology, and transaction processing.[1]
The firm is based in Chicago and has more than 80 employees, including over 40 investment professionals and is one of the most respected private equity firms in the country.
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The company was founded in 1980 as Golder Thoma & Co. by Stanley Golder and Carl Thoma. In the 1970s, Golder built the private equity program at First Chicago Corp.[2] where he is noted primarily for backing Federal Express and for efforts as chairman of the National Venture Capital Association and the National Association of Small Business Investment Companies to change federal laws allowing pensions to invest in private equity.[3][4] Golder Thoma received much of its initial funding from William M. Blair and upon leaving First Chicago, Golder was replaced by John A. Canning, Jr. who would go on to found rival Chicago private equity firm Madison Dearborn.
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Early history |
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In 1984, after recruiting Bryan Cressey to join the firm from First Chicago, the firm's name was changed to Golder Thoma Cressey and with the promotion of Bruce Rauner to partner the firm would come to be known as Golder, Thoma, Cressey, Rauner, Inc. (GTCR), although it would still often be referred to as Golder Thoma.[5]
In 1998, disagreements between the senior partners led Golder, Thoma, Cressey, Rauner, Inc. split into two private equity firms. Both firms continue to invest primarily through consolidations of specific industries, referred to as roll-ups:
GTCR invests through a series of private limited partnerships and its investors include a variety of pension funds (e.g., Washington State Investment Board,[9] Pennsylvania State Employee's Retirement System[10]) endowments and other institutional investors.
Following its separation from Thoma Cressey (discussed below), GTCR has raised five private equity funds:
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