Nov 8, 2023 | GroveStreet, In the News
GroveStreet Managing Director, John Merrill, moderated a panel of GPs exploring sectors of opportunity in venture capital beyond the AI frenzy. The group explored evolving investment themes in the areas of biotech, healthtech and fintech in North America as well as other innovation centers around the globe. Panelists debated whether or not there is a ‘new dawn’ for biotech or if the current period is just another stage in more of a linear evolution of the space. John wrapped up the discussion by querying the GPs about how they might construct a venture allocation if they were in the seat of a Chief Investment Officer. Not surprisingly, the GPs were bullish on the opportunities in venture.
Oct 31, 2023 | GroveStreet, In the News
Ted Seides of Capital Allocators interviews Managing Partner Bruce Ou. They discuss GroveStreet’s distinct qualities and edge as well as best practices in private market investing. Ted and Bruce also explore the origins of GroveStreet, when the founders saw an opportunity to partner with a select group of blue-chip investors to invest in the less efficient segments of private equity in a highly aligned way. Listen to the episode below, or wherever you get your podcasts.
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Oct 17, 2023 | GroveStreet, In the News
As LPs have flocked to co-investments, GPs have responded with an ample supply of opportunities. Managing Partner Bruce Ou and Principal Patrick Sherwood examine best practices in co-investing and note fundamental tenets investors should have top of mind when building a co-investment strategy. The paper builds on recent research from Josh Lerner of Harvard Business School. Josh, a Senior Advisor to GroveStreet, offers academic grounding to the intuitions of experienced practitioners. Read more here
Aug 24, 2023 | GroveStreet, In the News
The year started with expectations (and signals) of a reset for venture. LPs scrutinized valuations and venture-backed companies were scurrying to recalibrate burn rates, growth targets, and fundraising plans, hoping to grow into overly optimistic valuations. As 2023 unfolded public markets rallied and fundamentals held up, delaying the anticipated reckoning. Midway through the year we see swirling crosscurrents in venture that need to be carefully considered and monitored. Managing Partners Catherine Crocket and Bruce Ou summarize the key trends in venture and aspects of the current landscape that make it an attractive period for experienced LPs.
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Jul 31, 2023 | GroveStreet, In the News
GroveStreet advisor and Harvard Business School professor, Josh Lerner and his team of research colleagues have developed a new, simulation-based private equity forecasting model. The approach preserves the simplicity and intuition of the widely used, decades old deterministic model pioneered by Dean Takahashi and Seth Alexander at Yale, while addressing some of its shortcomings. An abstract on the new model can be found on the HBS website, which includes a link to the full article in the Journal of Portfolio Management.
GroveStreet collaborated with Josh’s team to put the new model into practice for investors. Combining GroveStreet’s two decades of private equity experience and data with the new forecasting model, we jointly developed a highly customizable tool that provides allocators with a probabilistic range of outcomes rather than point estimates for how their private equity programs may develop. The approach affords decision-makers broader perspective and deeper insights about how their portfolios may evolve. Click here for a video that describes the model and our collaboration in more detail.
Jul 1, 2023 | GroveStreet, In the News
GroveStreet Principal Mario Miranda and Managing Director John Merrill author a whitepaper on the tailwinds underlying US manufacturing and the corresponding opportunity for private equity investors. COVID interrupted a decade-long recovery in US manufacturing and highlighted the need to strengthen supply chains. While the road towards reshoring will be complex and long, emerging tailwinds present an opportunity for buyout managers. These tailwinds and the associated opportunities for investors merit close attention. View full whitepaper
