Private Equity Deals with Capital Allocators

Rockefeller Capital Management – Greg Fleming (Rockefeller Capital Management), (S3.EP.02)

Sep 20, 2023

Greg Fleming, CEO of Rockefeller Capital Management, discusses the formation of Rockefeller Capital Management, tuck-in acquisitions of private wealth managers, development of strategic advisory, and recent recapitalization of RCM. They also talk about the challenges of connectivity in the strategic advisory component and the growth and scale of RCM across 45 cities. The negotiation process with Demeray investors, capital spending plans, and the role of private equity in building a successful business are also discussed.

53:35

Episode guests

Greg Fleming

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Episode notes

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Quick takeaways

Rockefeller Capital Management aims to offer comprehensive advice to wealthy clients by integrating investment banking, tax planning, and generational planning.

Building a strong team of private advisors is crucial to the success and organic growth of Rockefeller Capital Management.

Rockefeller Capital Management places great emphasis on horizontal connectivity, ensuring seamless collaboration and communication across the organization.

Deep dives

Importance of Middle Market Businesses

Middle market businesses in the United States, defined as those generating revenue between $25 million and $1 billion, play a crucial role in the economy and private equity industry. These businesses, numbering around 200,000, employ 50 million people and account for two-thirds of total US private equity deal value.

Introduction

2min

Building Rockefeller Capital Management

25min

The Development of the Strategic Advisory Component

13min

Growth and Scale of Rockefeller Capital Management

5min

Negotiating a Deal with Demerays Investors

2min

Capital Spending, Acquisitions, and Long-Term Goals

3min

Building for Endurance and the Role of Private Equity

4min

Greg Fleming is the CEO of Rockefeller Capital Management, a business he created alongside the Rockefeller family and Viking Global Investors with the purchase of Rockefeller & Co. in 2018. He was a guest describing his background and the early years of RCM on Capital Allocators, and that conversation is replayed in the feed.

Rockefeller Capital Management is a platform that encompasses private wealth management, strategic advisory, and asset management formed out of the former family office of the Rockefeller family that today advises on over $100 billion in assets.

Our conversation covers Greg’s vision for Rockefeller Capital, the deal to purchase Rockefeller & Co, tuck-in acquisitions of private wealth managers, development of strategic advisory, and refining of the asset management business. We discuss the tuck-in acquisition process, including sourcing, diligence, deal structure, and integration, and the technology and operations required to make it work. We close discussing the recent recapitalization of RCM by the Desmarais family and Greg’s aspirations for the next five years.

For full show notes, visit the episode webpage here.

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