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We remain on offense.
For over 25 years, Parthenon Capital ("Parthenon" or "we") has stayed focused on our Core Sectors and subsectors, collaborated with entrepreneurs and management teams and leveraged our experiences and resources to identify and move adroitly on opportunities in emerging and growth markets.
We think long-term and strategically and we don't get distracted by public market volatility nor the most recent headlines. We have a long history of building leading companies with strong outsourced value propositions in complex, regulated industries and supporting these companies to transform through technology, process redesign and automation. We are excited by the potential impact AI can have on these types of businesses and optimistic that our companies can bring deeper efficiencies to the industries they serve.
We are investing Fund VII, a $4.6 billion pool of capital, and targeting equity investments in the $100 million to $500 million range. We seek growth opportunities in our core sectors of financial services, healthcare solutions and business/tech services ("Core Sectors") and favor dynamic niches, consolidation opportunities, corporate carve-outs and other complicated situations.
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Recent Highlights
- 4 new platform investments
- 31 add-on acquisitions at 11 portfolio companies
- 3 major liquidity events and 7 in total since 1/1/25 totaling $2.2 billion in distributions
- Completion of first continuation vehicle ("CV") with portfolio company KBRA
- $4.8 billion of debt issuance at 12 companies, comprised of new financings, upsizings, refinancings and A&Es
- 11 new Parthenon employees
- Launched new website, www.parthenoncapital.com
Note: Past performance is not indicative of future results.
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New Platform Investments
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Recapitalization of MRO and acquisition of
Q-Centrix
Industry
Healthcare Tech/Clinical Data Solutions
Thesis
Create a leading clinical data solutions company with suite of data acquisition, curation, optimization and release solutions. This transaction marks the start of the second chapter of our investment partnership with MRO
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Recapitalization of AArete
Industry
Healthcare Advisory Solutions
Thesis
Opportunity to build through both internal growth and acquisition, a leading healthcare payer focused advisory solutions company with expertise in cost optimization, efficiency and automation/AI
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Acquisition of Elevate
Industry
Healthcare Revenue Optimization and Eligibility and Enrollment
Thesis
Growing E&E RCM opportunity given increased complexity and financial pressures throughout the system while driving workflow automation gains via automation/AI
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Partnership with Embark
Industry
Professional Services/OCFO
Thesis
Opportunity to scale an entrepreneur business both organically and acquisitively while also driving workflow automation through process, people and technology/AI
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CV and new investment in KBRA
Industry
Credit rating agency and data provider
Thesis
Backing the challenger in large but monolithic market with a significant regulatory moat while also benefiting from secular growth in the capital markets plus new product capabilities
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Add-On Acquisitions At...
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Team
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New Principal
RJ Horsley
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Promotions to Vice President
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Promotions to Associate
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Ram Capoor
Will Cheng
Alina Dong
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Mike Mazzola
Steven Sun
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New Analysts
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Daniel Agmoni
Tanner Barry
Suyash Chandak
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Thage Claesson
Benny Klein
Kendal Matas
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New Finance, Legal & Admin Team Members
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Vicary Bruschini
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Rory Sheehan
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Melissa Slade
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Investment Philosophy
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We are growth-oriented private equity investors with decades of experience in our Core Sectors
- $100 - $500 million equity investments per platform (and $1 billion + with LP co-invest)
- Ability to start small and execute ambitious growth plans
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We partner with management teams to develop and implement bold strategic visions for our companies to make them leaders in their niche markets
- Emphasis on alignment amongst stakeholders
- Expertise to understand complicated and "off-the-run" situations
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We provide resources and know-how to transform companies into franchise assets
- Buy-and-build with two-thirds of our portfolio highly acquisitive, averaging eight add-ons per company
- Resources to develop and build infrastructure and repeatable process: corporate development, go-to-market, capital markets, M&A integration, technology and product road maps, HR and talent management, strategic FP&A, finance and reporting
- Substantial experience in process improvement, automation and tech, including AI
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Core Sectors
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Financial
Services
Wealth & Retirement
Insurance Services
Capital Markets / FinTech
Payments
Niche Risk-Bearing /
Spec Fin
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Healthcare
Solutions
Provider Tech & Services
Payer Tech & Services
Life Science Tech & Services
Pharmacy Tech & Services
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Business &
Tech Services
Professional Services
Vertically-Oriented Software
Info & Data Services
Outsourced Services
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We appreciate all the hard work and thoughtfulness of our management, their teams, our colleagues, investors, advisors and partners. We look forward to working with you in 2026.
Thank you for your support.
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© 2026 PCP Enterprise, L.P. All rights reserved.
Parthenon, Parthenon Capital, Parthenon Capital Partners and all related logos are registered service marks of PCP Enterprise, L.P.
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