Women in PE

Buyouts checked back with some members of our inaugural list of Women in PE to see how their careers are evolving and ask what their advice would be for the next generation of leaders.

MiddleGround’s 'entrepreneurial' vibe allowed Christen Paras to embrace increasing responsibility, and eventually lead six teams. Passionate about female empowerment, she's a sponsor of the firm's Women’s Wing, which backs charities for abused and homeless women and children.

Marcie Frost started out as a teenage mother with a temp job as a typist. She would rise to become the CEO of the largest public pension in the US, without receiving a college degree, and experiencing a diversity of roles along the way that no college degree could buy.

For Silvia Oteri, who heads Permira's global healthcare investing arm, improving the gender gap isn't just about getting more women into PE, she believes, but creating an environment that leads to success.

Julia Wittlin spent 15 years at BlackRock before joining RedBird, whose OneTeam launched with partners from NFL and MLB player associations. Now she's a lead on RedBird's college sports efforts, including its engagement with the Big 12 Conference.

Marcie Frost rose from being a typist without a college degree to being CEO of CalPERS, the largest public pension fund in the US. She is one of 10 women on our list who exemplify what it takes to thrive in the world of private equity.

When Katrina Liao joined Coller, she says she 'did not even know what a secondary was.' But Liao went on to originate some of the secondaries giant's largest GP-led and single-asset deals. With mentorship a priority, she launched the Women in Private Equity dinner series.

Jennifer James led the way when Thoma Bravo's Fund XVI became 2025's top PE fund close in North America. Also serving on the board of Private Equity Women Investor Network, she's dedicated to advancing representation via mentoring.

A partner with Bain Capital, Jennifer Davis says her work has 'enabled me to turn consumer and retail industry insight into more tangible investing and operating outcomes.' One big outcome came in February when Bain took retailer Bob’s Discount Furniture public after a 12-year hold.

Manna's Ellie Rubenstein says the female GP route is 'one of the hardest.' Nevertheless, in an industry where women are less than 20% of senior leadership, her firm is nearly two-thirds female. It has also become preeminent in the lower mid-market – growing to $800m in AUM.