Capital Allocators – Inside the Institutional Investment Industry Private Equity Masters 1: John Toomey – HarbourVest Partners (Capital Allocators, EP.200)
Jun 21, 2021
John Toomey, a key player at HarbourVest Partners with over thirty years of experience in private equity, discusses the evolution of investment strategies in the field. He shares insights about the transformative impact of data analytics and operational due diligence. The conversation touches on the complexities of co-investments, emphasizing alignment with fund managers. Toomey also highlights the challenges of ESG practices and the secondary market's strategic advantages, revealing how these factors shape the future of private equity investing.
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Career Shift
- John Toomey, initially a chemistry major, switched to finance after realizing its greater appeal compared to atmospheric chemistry.
- Drawn to HarborVest's unique market position and diverse investment strategies, he joined as an analyst in 1997.
Early PE Landscape
- In the late 90s, private equity was less specialized, with primary funds categorized broadly as US or non-US.
- The investment landscape was simpler, with fewer product offerings and a focus on institutional investors like pension plans and endowments.
Manager Specialization
- The private equity industry in the late 90s was less specialized than today, with broader categories like venture and buyout.
- Distinctions like small, medium, and large buyout or specialized venture strategies were less common.