Paine Schwartz Partners

Paine Schwartz Partners
Private Ownership
Industry Private Equity
Predecessor Fox Paine & Company
Founded 2007 (2007)
Founder W. Dexter Paine III and Kevin Schwartz
Headquarters New York City, New York and San Mateo, CA
Products Private equity funds, Leveraged buyouts, Growth capital
Website www.paineschwartz.com

Paine Schwartz Partners (formerly Paine & Partners) is an investment platform focused on sustainable food chain investing. The firm has experience managing key challenges and sourcing opportunities globally across the food and agribusiness value chain, utilizing its extensive and continually expanding network of industry contacts, and its proprietary, primary industry research to successfully source, execute, add value and exit transactions. The firm was founded in 2007, recently updating its name from Paine & Partners.

Paine Schwartz Partners is headquartered in San Mateo, California and New York City.

History

Paine & Partners, now Paine Schwartz Partners, was founded in 2007 by W. Dexter Paine III following his departure from predecessor Fox Paine & Company, which he had co-founded in 1997.

In 2007, the Paine & Partners formalized a year-long separation process, with Fox Paine co-founder Saul Fox retaining the predecessor firm's name, while Dexter Paine formed a new firm, Paine & Partners, with the legacy Fox Paine investment team.[2]

In 2005, Saul Fox and Dexter Paine, the two partners of Fox Paine & Company, began showing signs of disagreement about the raising of a third investment fund, with Dexter Paine pushing the effort and Saul Fox preferring to focus on existing investments. In 2006, they reached an agreement that let Dexter Paine launch what was originally known as Fox Paine Capital Fund III, without Saul Fox's active involvement. However under this arrangement Fox would receive a 25% interest in the new fund's general partnership.

The situation broke down in 2007 and the two partners resorted to litigation to settle a number of disputes.

In December 2007, Fox and Paine came to a compromise under which Saul Fox retained the use of the Fox Paine name and control over the investments in Fox Paine Fund II. In return, Saul Fox ceded his interest in Fox Paine Fund III, which would subsequently be renamed Paine Capital Fund III as well as the remaining legacy interest in the original Fox Paine Capital Fund.[2][3]

Prior to co-founding Fox Paine in 1997, Paine had been an investment banker and private equity investor at San Francisco-based Robertson Stephens and later Kohlberg & Co. The two partners had been encouraged to work together given their previous business dealings. In 1985, Dexter Paine had helped Saul Fox arrange financing for the leveraged buyout of Motel 6, while at KKR.

Notable investments

See also

References


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