David Layton is the chief govt officer of Companions Group, a worldwide non-public markets agency with greater than $135 billion in belongings beneath administration. Layton, who joined Companions Group in 2005, leads the agency’s govt workforce and international govt board and can also be a member of the worldwide funding committee. He was beforehand the pinnacle of Companions Group’s non-public fairness enterprise division.
The agency has invested $195 billion since 1996. At present, they’ve 1,800 workers worldwide serving 800 institutional purchasers, and their wholly owned portfolio firm make use of 250,000 individuals. Layton explains how the agency is extra like a big industrial conglomerate working wholly owned subsidiaries than a non-public fairness agency shopping for companies to flip them at a revenue.
Layton talks about why he banned the phrase “Deal” from the corporate. The issues that made PE profitable previously – the deal-doing mindset, the overemphasis on transactional enterprise – will not be the issues which can be going to make fashionable PE companies achieve success sooner or later. He notes the enterprise is now about constructing companies. The agency spends as a lot as 5 years prior to creating an acquisition.
An inventory of his favourite books is right here; A transcript of our dialog is obtainable right here Tuesday.
You may stream and obtain our full dialog, together with any podcast extras, on iTunes, Spotify, Stitcher, Google, YouTube, and Bloomberg. All of our earlier podcasts in your favourite pod hosts might be discovered right here.
Make sure you try our Masters in Enterprise subsequent week with Maria Vassalou, Chief Funding Officer of Multi-Asset Options at Goldman Sachs Asset Administration. She was a Professor of Finance at Columbia Enterprise Faculty the place her tutorial analysis led her to determine lots of the funding rules she employs immediately. At Columbia, she did consulting work for quite a few establishments earlier than becoming a member of Soros Capital Administration and S.A.C. Capital Advisors.
David Layton’s Favourite Books
Give up: 40 Songs, One Story by Bono
WEIRDest Individuals within the World by Joseph Henrich
This Is Your Thoughts on Crops by Michael Pollan
Chip Struggle: The Battle for the World’s Most Vital Know-how by Chris Miller
