A new private equity firm, Equality Asset Management, has been launched by Thomas Roberts, formerly a Managing Partner at Summit Partners.
Equality Asset Management will make investments of $100 million to $300 million in growth equity and buyout transactions. Sectors of interest include durable technology, healthcare, and tech-enabled growth companies.
The firm plans to implement an innovative fee structure that reflects the current return environment and more closely aligns general partner and limited partner interests. “Private equity has enjoyed incredible returns over time, but we believe the industry has reached an inflection point,” said Mr. Roberts. “Going forward, long-term outperformance will be driven by an investment strategy comprised of higher concentration, longer holds, and lower fees. We are establishing Equality as a next-generation firm specifically structured to address these fundamental industry shifts.”
Prior to establishing Equality, Mr. Roberts spent 28 years at Summit Partners and was active in a variety of roles including Managing Director and Managing Partner, Executive Committee Member, Investment Committee Member, and Operating Committee Member. He also created and led Summit’s Portfolio Performance Group, co-founded Summit’s Credit Business, and served on the board of directors of over thirty private and seven public companies.
Other members of the firm’s team include Tara Ciongoli, Gabriel Gomez, Ned Schwartz and Chase Rosa.
Equality has offices in Boston and New York (www.equalityassetmanagement.com).
© 2018 Private Equity Professional | June 18, 2018