Recent buyout fundraising: $11 billion
Description: When it opened in 1990, Providence was a quiet niche player that made big money on small media and telco deals. Fellow buyout firms took notice when Providence invested $63 million in VoiceStream Wireless (later renamed T-Mobile) in 1992, then sold it to Deutsche Telekom in 2000 for 19 times its investment. Providence has been on a roll - its reported rate of return is 70 percent. A nonstop cash influx and new offices in New Delhi and Hong Kong should calm limited partners concerned about smaller stakes in pricier club deals and rising multiples in the firm's sectors in the U.S.
Boldface advisors: Former FCC chairman Michael Powell.
Fun fact: Rhode Island-based CEO Jonathan Nelson takes the firm on an annual ski trip to Alta, Utah.
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© 2008 Cable News Network. A Time Warner Company ALL RIGHTS RESERVED.
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* : Time reflects local markets trading time.† - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges.• Disclaimer
| Copyright © 2008 BigCharts.com Inc. All rights reserved. Please see our Terms of Use. MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc. Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. All Times are ET. Intraday data provided by ComStock, an Interactive Data Company and subject to the Terms of Use. Historical, current end-of-day data, and splits data provided by FT Interactive Data. Fundamental data provided by Hemscott. SEC Filings data provided by Edgar Online Inc.. Earnings data provided by FactSet CallStreet, LLC. |