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Private Equity Chief Dealmakers

History

Dealmakers have been sourcing, developing, negotiating, and closing deals ever since the first private equity investment firm (Bessemer Trust) was founded by the entrepreneur Henry Phipps in 1907. In the following decades, the PE industry grew in fits and starts as a result of government legislation that was alternatively helpful and restrictive. The PE industry began to prosper in the 1980s, when Congress relaxed both pension fund restrictions and capital gains taxes. Investments flowed into private equity funds, and some of the best-known firms were founded—Bain Capital in 1984, The Blackstone Group in 1985, and The Carlyle Group in 1987.

Since the early 2000s, PE funds have grown tremendously. In June 2014, private equity firms worldwide managed $3.8 trillion in assets, according to The 2015 Preqin Global Private Equity & Venture Capital Report, up from “only” $716 billion in managed assets in December 2000.