Thrivent PE Team in Minneapolis
Hello,
Have we worked with this fund before? If so, what was the culture, career and comp progression like?
From what I read, they do more of co-investing than of traditional buy-out but please correct me if I am wrong.
Thank you in advance.
Great people but they operate like a traditional FoF / institutional investor, doing a lot of primary fund investing. It’s my understanding that they have an interesting relationship with another firm that deploys a significant amount of co-investment and PE capital on their behalf as well, but that’s a completely separate entity.
Interesting to know. Thank you for your input.
Echoing the comment above me - they focus primarily on fund and co-investing rather than directs. Focus primarily on the LMM-MM side of the market, co-investment is a pretty big part of their program. Have worked with them a bunch and seem like a smart group with a solid culture.
Thank you for your response. I will move forward in the process with them then. Appreciate all!
They have ~2 Billion in assets invested with Twin Bridge, which from my understanding is a remanent of when Thrivent first got into PE in the late 90s/2000s. Their FOF allocation is about 2/3 and 1/3 Co-invests. Overall, they invest quite a bit of capital across the two strategies each year (1-1.5 B). From my understanding, senior allocation decision-makers for the insurance portfolio are really gung-ho about PE and have an apatite for the risk return profile that the team has been able to curate by running a very diversified portfolio.
You'll get better responses in the asset and wealth management threads, they're a FoF not a PE firm
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