Private Equity Firms Look for Untapped Value


A strong economic environment, record dry powder in the form of $500 billion across the top 25 firms, and cheap capital have fueled a surge in U.S. private equity. Fundraising, deal and exit activity are at a scale and pace not seen since the early 2000s. Indeed, 2021 was a record for PE exits, and exit values hit a 20-year high.

This year, PE players face competitive pressure from smaller firms eager to make aggressive moves and capitalize on favorable capital market conditions. 

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About the authors

Kevin Thornton

Prior to joining ISG, Kevin was a Managing Director at Alsbridge, and before that with Patriarch Partners, an $8B private equity firm and holding company managing 75 companies across 14 industry sectors. At Patriarch, he served as President & CEO of Intera Group, Inc., a provider of digital media and telecommunications services.  Kevin also served as president and CEO of TruVideo, a mobile video company.  Prior to TruVideo, he was vice president and general manager of Lightbridge's (now Visa) Enhanced Services Division, a technology business unit providing licensed software and SaaS to wireless carriers and internet service providers, including Verizon Wireless and AOL.  Kevin also served as senior vice president of business development at NeoPoint, which brought to market the wireless industry’s first true smartphone, and was general manager of NeoPoint’s division, where his team developed the first location-based wireless portal.  

Chris Reeves

As a Director in ISG's Private Equity practice, Chris builds partnerships with leading PE firms and their portfolio companies to deliver technology transformation solutions and reduce IT costs.  He is skilled at guiding PE clients through the assessment and delivery of IT cost reduction opportunities. He assists clients with business case validation and operating models for the adoption of new digital technologies.