Private Equity Deals with Capital Allocators20 Jan 2025

Striking Oil – CrownRock by Lime Rock Capital (S3.EP.11)

When you think of the greatest private equity deals of all time, names like Google, Facebook, Uber, Dell, and Hilton come to mind. After a recent episode of Private Equity Deals, you might also think about 3G’s acquisition of Burger King. But I’d bet you wouldn’t think about an oil and gas play called CrownRock. Lime Rock Capital created CrownRock alongside a management team with $96.5 million of cash and assets in 2007. Seventeen years later, sold the business to Occidental Petroleum for $12.5 billion. Lime Rock’s original investment made 79x its money, a net IRR of 18%, and $7.5 billion in gains, which ranks in the top ten fully exited private equity deals of all time. It also exited a continuation vehicle that generated 3x its cost over the last six years of the deal’s life. My guests to discuss the firm and its grand slam CrownRock deal are Lime Rock Managing Directors John Reynolds, Jonathan Farber, and J McLane. Our conversation covers Lime Rock’s investment approach and the example of CrownRock. We dive into the initial investment thesis around vertical drilling, the three extinction threats to the business, innovation of horizontal drilling, management excellence, exit options along the way, and the ‘forever hold’ mindset that allowed CrownRock to compound extraordinary amounts of capital. Take Capital Allocators Audience Engagement Survey Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

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Asset Management Consolidation - Simon Krinsky, Hall Capital and Tim McCusker, NEPC (S3.EP.10)

Consolidation in asset management is one of the industry's most important trends. When any industry enters a mature phase, consolidation brings the benefits of economies of scale, product depth, and b...

9 Dec 20241h 2min

Classic Deal - Burger King by 3G Capital (S3.EP.09)

3G Capital’s buyout of Burger King may be the most successful private equity deal you’ve never heard about. Over the last fourteen years, or the length of a typical private equity fund, 3G turned a $1...

6 Maj 20241h 11min

DealCloud – Ben Harrison (DealCloud), (S3. Sponsored Insight)

This Sponsored Insight features Ben Harrison, Founder and Co-President of DealCloud, our sponsor for Season 3 of Private Equity Deals. Ben discusses how DealCloud’s vertical software supports alterna...

20 Dec 202330min

Ironclad Environmental Services – Chris and Rob Michalik (Kinderhook Industries), (S3.EP.08)

On episode eight of season three of Private Equity Deals, Chris and Rob Michalik discuss Kinderhook Industries’ investment in Ironclad Environmental Services. Chris and Rob are twin brothers and co-f...

13 Dec 202338min

Hometown Food Company – Henk Hartong III (Brynwood Partners), (S3.EP.07)

Henk Hartong III is the Chairman and CEO of Brynwood Partners, a middle-market private equity firm that invests in U.S. consumer-oriented businesses, primarily in the food, beverage, and personal care...

29 Nov 202340min

Silvus – Rich Caputo and Erik Fagan (The Jordan Company), (S3.EP.06)

Rich Caputo is the Chairman and Chief Executive Partner and Erik Fagan the Co-Head of Diversified Industrials at The Jordan Company, a private equity firm founded in 1982 by Jay Jordan that manages $2...

15 Nov 202340min

TreviPay – Ignacio Jayanti (Corsair Capital), (S3.EP.05)

Ignacio Jayanti is the CEO of Corsair, a $10 billion specialist in financial services and infrastructure investing that started as a private equity practice within JP Morgan three decades ago. TreviP...

1 Nov 202340min