Perella Weinberg Partners is to launch PWP Growth Equity, a new private equity strategy focused on investing in growth companies in the lower middle market.
The new strategy will be led by David Ferguson (pictured) and Chip Baird, investment veterans who have joined the firm as partners in its asset management business. They will be based in New York.
Ferguson and Baird join Perella Weinberg Partners from Weston Presidio, a lower middle market private equity firm, where they were both partners. Ferguson and Baird have 40 years of experience in private equity and investing, collectively.
The PWP Growth Equity strategy will invest primarily in lower middle market companies across the consumer, services and industrials sectors. The strategy will focus on investments in businesses with strong management leadership, large addressable markets, compelling margins and cash flow conversion, differentiated products or services, and strong growth prospects.
Terry Meguid, founding partner and head of the firm’s asset management business, says: “Identifying proven and experienced professionals to lead new strategies and further diversify our offering of alternative investment solutions continues to be a primary focus for the Firm. Dave and Chip have a demonstrated track record of successfully sourcing, overseeing and exiting compelling investments and delivering attractive returns for investors.”
Ferguson says: “Perella Weinberg Partners is a leading global diversified alternative asset manager that is highly regarded for offering quality alternative investment products. Its reputation, coupled with its institutional infrastructure, made them the ideal partner for our new venture. We are excited to be launching this new strategy under the Perella Weinberg Partners franchise.”
