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Providence Equity Partners L.L.C. is a specialist private equity investment firm focused on media, communications, education, and technology investments across North America and Europe. The firm specializes in growth-oriented private equity investments and has invested in more than 170 companies globally since its inception in 1989.
Jonathan Nelson is Providence's founder and now serves as the firm's chairman. Mr. Nelson currently serves as chairman of Ambassador Theatre Group and director of The Chernin Group.
Since our modest beginnings as a small investment firm based in Providence, Rhode Island, Providence has grown into a leading sector-focused private equity firm, with an enduring franchise in the media, communications, education and technology industries across North America and Europe.
We believe Providence helps build and grow exceptional businesses that make a difference. We are private equity specialists, focused on growth-oriented media, communications, education and technology companies throughout North America and Europe.
- Firm History
- Investment Strategy
- Notable Dealmakers
- Industry/Geography
- Fund Performance
- Key Buyouts
- Key Exits
Nelson grew up in Providence and spent his undergraduate years at Brown University, so the city was a natural home when he started his own firm in 1989 alongside Glenn M. Creamer. In its early years, Providence Equity Partners invested solely in the media and telecommunications space, the industries on which Nelson and Creamer focused earlier in th...
Today, Providence focuses on media, communications, information and education, the areas of its partners’ expertise. According to the PitchBook Platform, a whopping 97% of the firm’s active portfolio companies fall into the B2C, B2B or information technology sectors. During the past decade, the firm averaged 24 private equity investments per year, ...
Jonathan Nelson, CEO and Co-Founder As his chief executive and co-founder status would indicate, Nelson is the clear face of the firm, gracing the aforementioned cover of Fortune and serving as the subject of two lengthy features in The New York Times. Like Providence itself, his investment specialties are media and telecom companies. Nelson curren...
As mentioned above, Providence displays a real preference for the B2B, B2C and IT spaces, with the vast majority of its deals falling under one of those umbrellas. Delving a little deeper into the PitchBook Platform unveils a more detailed picture. The firm has of late steadily increased its exposure to the B2B sector, with such deals accounting fo...
Like many firms, Providence raises a variety of vehicles ranging from growth capital to distressed debt. We’ll focus here on the firm’s flagship buyout funds. The metrics (IRR as of 4Q 2015 and other return multiples through 1Q 2016): There’s a very distinct point of demarcation between Funds IV and V, which roughly corresponds to the juncture at w...
In the past three or four years, Providence has moved away from the multibillion-dollar buyouts that dotted its portfolio during the preceding decade, showing instead a preference for smaller deals. Smaller, though, is of course a relative term. The firm still participated in a $630 million growth investment in telecom business Helio Towers Africa ...
Two major divestments stand above the rest in Providence’s recent track record, both involving companies the firm initially backed in 2005. The first is financial software provider SunGard Data Systems, which the firm exited (along with other sellers) last August in a deal valued at more than $9 billion. And the second is Grupo Corporativo Ono, a c...
Jul 1, 2019 · WPP is selling its minority shareholding in Chime, the parent company of VCCP and CSM Sport & Entertainment. The holding group announced this morning that it will sell its 24.85% stake to US private-equity company Providence Equity for US$68.8 million.
Dec 10, 2021 · Toronto, ON, and London, England, December 7, 2021 – Onex Corporation (“Onex”) (TSX: ONEX) today announced that Onex Partners V, Onex’ $7.2 billion fund, has agreed to acquire Tes Global (“Tes” or the “Company”), a leading education technology services provider, from Providence Equity Partners L.L.C. (“Providence”), a ...
