Crain’s New York Business turned to McGuireWoods partner Jon Finger for insight on the rapid growth of independent sponsors for an April 23 story exploring “one of the most dynamic niches in the scorching-hot world of private equity.”
Crain’s reported that independent sponsors accounted for roughly one-fourth of the more than 5,000 private equity deals struck in 2018. Finger, a Dallas partner who helped launch McGuireWoods’ national independent sponsor initiative, explained why established private equity investors are increasingly turning to independent sponsors to help find attractive deals.
“The PE world is realizing that independent sponsors often have a real angle on a company, a real experience set,” Finger said. “That can be extraordinarily valuable in the current M&A environment.”
Nearly 600 independent sponsors and capital providers from 35 states and Canada attended the firm’s national independent sponsor conference in Dallas in October 2018, a testament to the firm’s leadership in this fast-growing segment of private equity. McGuireWoods’ upcoming conference will be held Oct. 2-3 at the Ritz-Carlton in Dallas.
McGuireWoods’ private equity lawyers lead 14 independent sponsor networking groups in major cities around the country that facilitate the sharing of best practices, connections, ideas and deal leads.
Financial Times recently named McGuireWoods the most innovative firm for the business of law, highlighting the firm’s work with independent sponsors.