Paul Capital is a private equity investment firm made up of a fund of funds, secondary investments and a healthcare direct investment (royalty and revenue interest financing) business. The firm has more than 100 employees and manages more than $7 billion across its three distinct investment platforms. Paul Capital has offices in Hong Kong, London, New York City, Paris, São Paulo and San Francisco, as well as a network of regional representatives with local expertise in

North America North America is a continent in the Northern Hemisphere and almost entirely within the Western Hemisphere. It is bordered to the north by the Arctic Ocean, to the east by the Atlantic Ocean, to the southeast by South America and the Car ...

, Latin America, the United Kingdom, Western Europe, Central Europe, Eastern Europe, the Middle East, South Africa, Asia and

Australia Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...

History

Philip Paul founded the firm when he had the opportunity to acquire 42 venture capital and leveraged buyout fund positions from the Hillman Company in 1991. This was one of the earliest transactions in the

private equity secondary market In finance, the private-equity secondary market (also often called private-equity secondaries or secondaries) refers to the buying and selling of pre-existing investor commitments to private-equity and other alternative investment funds. Given t ...

and was completed before there was a name for this market or dedicated pools of capital available to acquire such illiquid assets. Paul Capital expanded its investment platforms to include a fund of funds business and a healthcare team to purchase royalty and revenue interests in drug and device products.

Secondary investments

Paul Capital has been an investor in the

(also known as secondaries) since 1991. The firm's secondaries team is the oldest and largest of Paul Capital’s three investment platforms with more than $4.4 billion in assets under management. Paul Capital has opened dedicated secondary private equity offices in emerging markets, including Asia and Latin America. Paul Capital’s latest secondary fund, Paul Capital Partners IX, L.P., closed in May 2008 with $1.65 billion in capital commitments. Paul provides liquidity solutions to

institutional investor An institutional investor is an entity which pools money to purchase securities, real property, and other investment assets or originate loans. Institutional investors include commercial banks, central banks, credit unions, government-linked co ...

s through the acquisition of interests in

private equity fund A private equity fund (abbreviated as PE fund) is a collective investment scheme used for making investments in various equity (and to a lesser extent debt) securities according to one of the investment strategies associated with private equity ...

s as well as interests in private companies. Paul Capital works with a broad range of sellers, including

pension fund A pension fund, also known as a superannuation fund in some countries, is any plan, fund, or scheme which provides retirement income. Pension funds typically have large amounts of money to invest and are the major investors in listed and priva ...

s, financial institutions, endowments, family offices,Wealthy Seek Help With Private Equity
The Wall Street Journal, 28 April 2009

corporations A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal context) and r ...

and

general partners A general partnership, the basic form of partnership under common law, is in most countries an association of persons or an unincorporated company with the following major features: *Must be created by agreement, proof of existence and estoppel. ...

. In addition to “traditional” secondary private equity transactions, Paul employs transaction structures for investors with complex needs, including but not limited to: the inability to bear a significant discount to their carrying value, the need to preserve relationships with general partners in the portfolio while still achieving early liquidity and concerns about forgoing the future upside portfolios.

References

External links

Paul Capital
(company website) {{Private equity and venture capital Financial services companies established in 1991 Private equity firms of the United States Private equity secondary market Companies based in San Francisco 1991 establishments in California American companies established in 1991