I can't think of any new ones, and I work exclusively in the Midwest. There's a new FoF in Milwaukee that does some small direct investing, but that's about it. The conditions of the last few years didn't really make it possible to start a PE firm, as debt wasn't available.

Pfingsten in Chicago, and Mason Wells in Milwaukee have been growing, however, in terms of capital (not employees, though).

 
Best Response

Brand new firms/funds are few and far between at this point. Your best bet is to find an existing group that is raising a new fund. It is so difficult to raise a first fund in a normal economic environment to begin with...and it's nearly impossible to do in the one we just came out of (still in?).

I've met people who have either been raising funds for years (literally) or they raised a fund and never meet their initial goal. I've also met some groups that have made zero investments out of their fund raise a year (or 2 or 3) ago because the market was so horrible.

As far as the Midwest, I said Baird's group was looking for a person or two not too long ago. I'm not too familiar with Midwest PE firms but it seems likely that they will be few and far between. Texas, Chicago and Denver will likely be the best places to look for groups that specialize in those areas. Good luck.

Regards

"The trouble with our liberal friends is not that they're ignorant, it's just that they know so much that isn't so." - Ronald Reagan
 
PuppyBackedSecurities:
Texas is NOT in the mid-west! How dare you.

Haha, I certainly wasn't implying that, lol.

Regards

"The trouble with our liberal friends is not that they're ignorant, it's just that they know so much that isn't so." - Ronald Reagan
 

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