Venture Capital - New York, NY, US
Endurance is a long term capital vehicle focused on acquiring middle market companies and building and growing those companies over a period of 10 to 15 years. Endurance brings together a world class group of executives with over 300 years of combined private and public company leadership in the financial services, private equity, investment banking and industrial sectors.For 35 years, private equity/buyout has been one of the best performing asset classes for money managers. Private equity consistently outperforms public indexes with a meaningful premium to public returns. With traditional buyouts, while many investors may realize capital over the short term, a great deal of capital appreciation may be destroyed through the constant churn of a private equity portfolio. Endurance Partners is establishing a long term private equity vehicle designed to maximize both IRR's and capital appreciation by owning and growing middle market companies over a 15 to 20 year period. - A permanent capital vehicle can be a more effective strategy for long term appreciation because top quartile "persistence" in traditional serial private equity funds can be challenging. - With world class skills available to it, a portfolio investment may enjoy greater time to establish a foundation for long term growth, develop a culture of best practices, maximize operational improvements and benefit from add on-acquisitions. - The small mid market and large middle market buyout space has consistently outperformed the mega market over 15 years. (15-year performance represents vintage year 1998 private equity buyout funds as of June 30, 2013. Represents median IRR. Source: Preq)- Over the long term, a permanent capital vehicle may materially reduce the differential to investors between gross and net IRR's.- A long term investment horizon may help minimize the meaningful risks of new company and new fund investment and may provide a superior structure for portfolio construction.
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