15 years of PEI: In memoriam

Lionel Pincus

Pincus formed Warburg Pincus, one of the largest private equity firms in the world today, via the 1966 merger of Lionel I Pincus & Co, his financial consultancy firm, and investment bank EM Warburg & Co. Warburg Pincus was one of the pioneers of the venture capital model, raising its first fund — the $41 million EMW Ventures — in 1971.

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Theodore ‘Ted’ Forstmann

Forstmann, above, will be remembered in particular for founding and running Forstmann Little, one of the most influential firms in the early years of the buyout industry. He also proved to be prophetic, lamenting the increasing use of high-yield bonds in the 1980s, and warning about the size of the financial crisis in 2008.

Warren Hellman

Hellman co-founded Hellman & Friedman in 1984 with Tully Friedman. He played an active role on the investment side, most notably in companies including iconic jeans brand Levi Strauss & Company and the NASDAQ exchange.

Nigel Doughty

Doughty co-founded British private equity fund Doughty Hanson & Co in 1985.

Tighe Sullivan

Sullivan joined UK-listed 3i Group through a joint venture established between the firm and US-based WCAS Fraser Sullivan Management, a specialist debt manager Sullivan co-founded, just a few months before he died in a helicopter crash in Pennsylvania.

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Joe Dear

Having previously made waves as a private equity proponent at Washington State Investment Board, Dear, above, joined CalPERS as CIO in 2009, as the markets were crashing, causing the pension to lose roughly a fourth of the value of its portfolio assets. Dear managed to recoup its losses and drove the portfolio to reach new heights of more than $283 billion in AUM. During his tenure CalPERS became the benchmark LP, leading the way on issues like terms and conditions.

Rikard Kjörling

Kjörling led the external management unit at the SKr290bn AP Fonden 1.

Jerome Kohlberg

One of the founding partners of leveraged buyout firm KKR, Kohlberg played a crucial role in developing the private equity model. He established the PE giant with Henry Kravis and George Roberts in 1976, and left in 1987 to found his own firm, Kohlberg & Co.

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James ‘Jimmy’ Lee

Known as a mentor, friend and relationship-builder to many in North America’s corporate, private equity and banking communities, JPMorgan Chase’s vice-chairman Lee is credited with changing the blueprint for modern private equity dealmaking.

Joseph Trustey

Trustey, managing director and chief operating officer of Summit Partners, was killed along with his daughter when his single-engine plane crashed in Milwaukee.

John Angelo

Angelo co-founded New York-based Angelo, Gordon & Co in 1988 with his partner Michael Gordon. The pair launched the firm after leaving merchant banking business LF Rothschild Holdings.

Michael Donatucci

Donatucci was chief investment officer at the City of Philadelphia Board of Pensions & Retirement.

Thomas Perkins

Perkins, one of Silicon Valley’s pioneers with a career that spanned entrepreneurship, the management of major corporate activities and venture capital, co-founded Kleiner Perkins Caufield & Byers, one of the first venture capital businesses in the US, in 1972.

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Claudio Sposito

Sposito founded Milan-based private equity firm Clessidra in 2003, having served for five years as CEO of Fininvest, Italian Prime Minister Silvio Berlusconi’s holding company, and for 10 years as a managing director at Morgan Stanley.