Wall Street: Top PE firm’s tech execs

The latest in finance.
View in browser


The weekend is here! Dan DeFrancesco in NYC, and I'm slightly panicking over reports that the bats that help make tequila could go extinct

Fun Fact Friday: Wombats are the only animals with cube-shaped poop, and there is a scientific reason why

On tap, we've got stories on a fintech considering an IPO, book recommendations from billionaires, and why it might be smart to bring dog treats on your next trip to CVS.

But first, PE gets in on the fun. 

If this was forwarded to you, sign up here. Download Insider's app here.

digital wall street virtual remote work 1 4x3

1. Let's get digital.

What's the first thing that pops into your head when you hear the term "private equity?"

I'm sure there are plenty of terms that float to the top of your mind — some of which might not be fit for publication — but one that probably doesn't is "technologist."

PE firms do plenty of things quite well (and they are certainly compensated for their work), but their internal tech has never been a top priority. 

That is now starting to change, as the benefits of leveraging cutting-edge tech like artificial intelligence and alternative data are becoming too hard to ignore.

So who's leading these firms into the digital age?

Insider's Bianca Chan and Rebecca Ungarino identified the top tech executives at some of the largest private-equity firms in the world, like Apollo, Blackstone, KKR, and Thoma Bravo. 

Bianca's and Rebecca's list also includes some insight into how these leaders are looking to leverage tech as part of their firms' internal strategies, from cutting costs to helping source deals. 

What I find most fascinating about the so-called "digitization" of PE isn't so much the actual tech but the culture.

As great as all these firms are at investing, I have no doubt they could benefit from incorporating all kinds of technology into their deal process. However, the real question is whether the actual dealmakers will embrace it. 

Like the old saying goes, "You can lead a horse to water, but you can't make them drink it." 

Click here to learn more about the 12 executives helping PE firms get up to speed on cutting-edge tech they can use to source and close deals. 

In other news:

Thomas H. Lee at a panel discussion in 2009.

2. Billionaire investor and financier Thomas H. Lee has died aged 78. His family wrote in a statement that he was "a pioneer and lion of the private equity and leveraged buyout industries." Read more here.

3. A fintech IPO! Yes, you read that right. British digital-only bank Monzo has held initial talks with a number of investment banks about going public. Read more about what the $4.5 billion fintech is considering.

4. The corner office could be the new junior one-bedroom. Since nobody seems to want to go to the office these days, people are talking about converting those empty buildings into apartments. But it's a lot harder than it looks. Here's why.

5. Can I interest you in some Stripe? Goldman Sachs is pitching its wealth clients on investing in the fintech giant, which is raising cash to pay off a tax bill tied to cashing out employee's restricted stock units, Bloomberg reported. More on that here.

6. More books to read from people way smarter than you. We've got a list of 30 books that Elon Musk, Jeff Bezos, and Bill Gates all recommend you read if you want to learn more about business and leadership. Too bad "The Lorax" didn't make the cut. 

7. The bank for startups is not doing so hot. Silicon Valley Bank, which is the go-to bank for tech startups, is under pressure amid the market downturn, the Financial Times reported. Read more about why SVB is in trouble.

8. How the "Queen of Sexting" built a $2.6 million business on OnlyFans. Amber Sweetheart broke down her strategy for growing her subscriber base and detailed how she built a career that probably pays better than yours. More here.

9. Drop the deodorant, or we're siccing the dog on you. A CVS in NYC is relying on K-9 units to deter shoplifters. Read more about an idea that will certainly end in a lawsuit.

10. Don't be THAT person at the bar. Drink experts dish on the best, and worst, cocktails to order on a night out. Follow this advice and become your bartender's BFF.

Curated by Dan DeFrancesco in New York. Feedback or tips? Email ddefrancesco@insider.com, tweet @dandefrancesco, or connect on LinkedIn. Edited by Jeffrey Cane (tweet @jeffrey_cane) in New York and Hallam Bullock (tweet @hallam_bullock) and Nathan Rennolds (tweet @ncrennolds) in London. 



Posts les plus consultés de ce blog

Chris Ramsey can take the heat, but what would relegation for QPR mean for black managers in the Premier League?

'Game of Thrones' gave fans of Missandei and Grey Worm something to love tonight