As we commence the new year, we’re excited to share several important milestones at GroveStreet.
New Client Commitments
First, on the client front we’re pleased to report one of our long-standing investors contracted a 7th investment program with GroveStreet in the fourth quarter. We are deeply honored by the vote of confidence and trust intrinsic to another client extending their collaboration with our organization. Adding to the exciting momentum from our investors, this program brings total commitments to GroveStreet in 2024 to $670 million.
Patrick Sherwood and Mario Miranda Promoted to Managing Partner
Organizationally, we’re delighted to announce that Partners Patrick Sherwood and Mario Miranda have been promoted to Managing Partners. During their time at GroveStreet, they have each made impactful contributions to our investment process, serving our clients and running our business. As Managing Partners, they will help lead GroveStreet in the years ahead. Patrick and Mario add to the character of our culture where each Partner brings distinctive talents and perspectives which equip GroveStreet to continue to pursue exceptional investment results in highly engaged collaboration with our clients.
Compelling Investment Opportunities
On the investment front, we remain excited about the opportunities in venture, lower middle market buyouts and co-investments. Deal flow is abundant, although our bar remains very high as we focus on building concentrated portfolios. The macro landscape, as is often the case, roils with cross currents mixed with favorable and challenging trends. We don’t seek to prognosticate macro markets but instead maintain a time horizon commensurate with our target segments and seek the most compelling, enduring opportunities on a bottom-up basis. This approach has served our clients well for over a quarter of a century.
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