354:, and the MIT Graduate School of Engineering and asked each man who the best student they produced in the past five years was. The HBS dean cleverly responded that he was insulted that Whitney would think that he would simply rank his best students and hand the list out, but that if he was to do such an outrageous thing, he would rank C. Wrede Petersmeyer, a graduate the previous year, first. Whitney hired Petersmeyer the next day, and he went on to become a partner at the firm and run Whitney Communications. Whitney had been investing since the 1930s, founding
207:
38:
377:, venture-capital investments were primarily the domain of wealthy individuals and families. Schmidt, in fact, is credited with coining the term "venture capital", originally known as "development capital". The company was originally described as a lender of "private adventure capital" and Schmidt shortened the term.
345:
J. H. Whitney & Company was founded by John Hay
Whitney, who put up $ 10 million after World War II to finance entrepreneurs with business plans who were unwelcome at banks. Mr. Whitney brought in Benno Schmidt as his partner to run the company. When starting the company, Whitney wanted a broad
180:
in 2005. The $ 800 million raised in 2005 were a significant decrease from its previous funds, when the firm raised $ 1.1 billion in 2001 and $ 975 million in 2000 for
Whitney V and IV, respectively. The performance of the 2000 vintage fund IV in particular was impacted by the firm's exposure to
327:
380:
By far, Whitney's most famous investment during this period was in
Florida Foods Corporation. The company developed an innovative method for delivering nutrition to American soldiers, which later came to be known as
458:
173:
The firm, which today is known as
Whitney & Co. and also J. H. Whitney Capital Partners, LLC, continues to make investments in leveraged buyout transactions, and raised $ 800 million for its sixth
420:, began an attempted $ 970 million hostile takeover of Prime Computer. Management resisted LeBow's advances and eventually agreed to a $ 1.3 billion leveraged buyout, with Whitney acting as a
320:
918:
313:
923:
366:. What is considered today to be true private equity investments began to emerge after World War II, marked by the founding of the first two venture capital firms in 1946:
928:
707:
773:
765:
367:
196:
161:, turnarounds, acquisitions, and recapitalizations of more mature companies, particularly those it considers to be in the middle market. The firm is based in
424:. For Whitney, owning Prime proved to be nearly a total loss with the bulk of the proceeds from the company's liquidation paid to the company's creditors.
897:
397:
In response to the changing conditions, in the venture-capital industry in the 1980s, Whitney (and other early venture-capital firms including
593:
401:) began to transition away from venture capital toward leveraged buyouts and growth capital investments, which were in vogue in that decade.
700:
778:
750:
214:
892:
887:
693:
363:
793:
788:
783:
294:
282:
262:
246:
230:
659:
642:
625:
575:
558:
541:
524:
470:
844:
819:
48:
404:
Whitney's most public foray into the leveraged-buyout space came in 1989, when it completed the acquisition of
37:
421:
359:
347:
162:
111:
86:
849:
174:
874:
447:
386:
154:
685:
428:
834:
488:
177:
104:
302:
206:
854:
745:
601:
755:
629:
413:
355:
254:
238:
158:
150:
859:
814:
735:
720:
351:
146:
809:
740:
716:
663:
646:
579:
562:
545:
528:
474:
417:
409:
405:
398:
270:
222:
182:
58:
17:
912:
864:
839:
829:
274:
90:
427:
Whitney completed other buyouts in the 1980s, including the acquisition of retailer
869:
824:
374:
382:
100:
605:
448:
https://reports.adviserinfo.sec.gov/reports/ADV/160547/PDF/160547.pdf
513:
The New
Ventures, Inside the High Stakes World of Venture Capital.
373:
Whitney became a highly professional organization, whereas before
346:
team of young experts to be his deputies. He went to the deans of
689:
643:
Market Place; Buyout of Prime
Computer Limps Toward Completion
594:"BUSINESS PEOPLE; Deal for Prime Pleases Partners at Whitney"
525:
BUSINESS PEOPLE; Deal for Prime
Pleases Partners at Whitney
679:
134:
576:
HIGH TECH'S GLAMOUR FADES FOR SOME VENTURE CAPITALISTS
471:
Metro
Business; A Change of Identity For J. H. Whitney
802:
764:
728:
130:
120:
110:
96:
82:
64:
54:
44:
919:Financial services companies established in 1946
626:Whitney Agrees to Buy Prime for $ 1.25 Billion
149:firm in the U.S., founded in 1946 by partners
774:History of private equity and venture capital
701:
368:American Research and Development Corporation
321:
8:
30:
416:, who controlled a smaller computer maker,
393:The 1980s and the move to leveraged buyouts
924:Venture capital firms of the United States
708:
694:
686:
542:Benno C. Schmidt, Financier, Is Dead at 86
489:"J.H. Whitney & Co. Eyes Cooler Maker"
328:
314:
192:
29:
929:Private equity firms of the United States
358:in 1933 and acquiring a 15% interest in
157:. Today, the firm focuses primarily on
440:
293:
281:
261:
245:
229:
213:
195:
7:
183:technology and internet businesses
25:
370:and J. H. Whitney & Company.
205:
36:
779:Early history of private equity
559:Venture Capital Loses Its Vigor
257:and the venture capital bubble)
592:Cuff, Daniel F. (1989-06-26).
385:orange juice, and was sold to
1:
27:American venture capital firm
364:Cornelius Vanderbilt Whitney
794:Private equity in the 2000s
789:Private equity in the 1990s
784:Private equity in the 1980s
487:Meikle, Brad (2008-10-06).
143:J. H. Whitney & Company
70:; 78 years ago
31:J. H. Whitney & Company
945:
341:Founding and early history
883:
845:High-net-worth individual
820:Corporate venture capital
660:Campeau Sets Sale of Unit
197:History of private equity
49:Limited liability company
35:
680:J. H. Whitney & Co.
360:Technicolor Corporation
348:Harvard Business School
163:New Canaan, Connecticut
87:New Canaan, Connecticut
850:Institutional investor
540:RICHARD A. OPPEL JR. "
18:J.H. Whitney & Co.
893:Venture capital firms
875:Sovereign wealth fund
387:the Coca-Cola Company
888:Private equity firms
105:private equity funds
898:Portfolio companies
729:Investment strategy
582:, February 6, 1987.
574:LUECK, THOMAS J. "
557:POLLACK, ANDREW. "
221:(origins of modern
199:and venture capital
178:private equity fund
122:Number of employees
32:
682:(official website)
598:The New York Times
565:, October 8, 1989.
548:, October 22, 1999
303:COVID-19 recession
906:
905:
855:Insurance company
649:, August 12, 1992
523:Cuff, Daniel F. "
429:Filene's Basement
338:
337:
159:leveraged buyouts
140:
139:
16:(Redirected from
936:
756:Leveraged buyout
723:investment firms
710:
703:
696:
687:
667:
656:
650:
639:
633:
630:Associated Press
622:
616:
615:
613:
612:
589:
583:
572:
566:
555:
549:
538:
532:
521:
515:
509:
503:
502:
500:
499:
484:
478:
467:
461:
456:
450:
445:
414:Bennett S. LeBow
410:corporate raider
362:with his cousin
356:Pioneer Pictures
330:
323:
316:
255:leveraged buyout
239:leveraged buyout
209:
193:
151:John Hay Whitney
78:
76:
71:
40:
33:
21:
944:
943:
939:
938:
937:
935:
934:
933:
909:
908:
907:
902:
879:
860:Investment bank
815:Commercial bank
798:
760:
724:
721:venture capital
714:
676:
671:
670:
666:, June 10, 1988
657:
653:
641:Norris, Floyd "
640:
636:
632:, June 24, 1989
623:
619:
610:
608:
591:
590:
586:
573:
569:
556:
552:
539:
535:
531:, June 26, 1989
522:
518:
510:
506:
497:
495:
486:
485:
481:
477:, June 14, 2000
468:
464:
457:
453:
446:
442:
437:
395:
352:Yale Law School
343:
334:
198:
191:
171:
147:venture-capital
135:www.whitney.com
123:
74:
72:
69:
28:
23:
22:
15:
12:
11:
5:
942:
940:
932:
931:
926:
921:
911:
910:
904:
903:
901:
900:
895:
890:
884:
881:
880:
878:
877:
872:
867:
862:
857:
852:
847:
842:
837:
832:
827:
822:
817:
812:
810:Angel investor
806:
804:
800:
799:
797:
796:
791:
786:
781:
776:
770:
768:
762:
761:
759:
758:
753:
748:
743:
738:
732:
730:
726:
725:
717:Private equity
715:
713:
712:
705:
698:
690:
684:
683:
675:
674:External links
672:
669:
668:
664:New York Times
651:
647:New York Times
634:
617:
584:
580:New York Times
567:
563:New York Times
550:
546:New York Times
533:
529:New York Times
516:
511:Wilson, John.
504:
479:
475:New York Times
462:
451:
439:
438:
436:
433:
418:MAI Basic Four
406:Prime Computer
399:Warburg Pincus
394:
391:
342:
339:
336:
335:
333:
332:
325:
318:
310:
307:
306:
298:
297:
291:
290:
286:
285:
279:
278:
271:dot-com bubble
266:
265:
259:
258:
250:
249:
243:
242:
234:
233:
227:
226:
223:private equity
218:
217:
211:
210:
202:
201:
190:
187:
170:
167:
138:
137:
132:
128:
127:
124:
121:
118:
117:
116:$ 1.0 billion
114:
108:
107:
98:
94:
93:
84:
80:
79:
66:
62:
61:
59:Private equity
56:
52:
51:
46:
42:
41:
26:
24:
14:
13:
10:
9:
6:
4:
3:
2:
941:
930:
927:
925:
922:
920:
917:
916:
914:
899:
896:
894:
891:
889:
886:
885:
882:
876:
873:
871:
868:
866:
865:Merchant bank
863:
861:
858:
856:
853:
851:
848:
846:
843:
841:
840:Fund of funds
838:
836:
833:
831:
830:Family office
828:
826:
823:
821:
818:
816:
813:
811:
808:
807:
805:
801:
795:
792:
790:
787:
785:
782:
780:
777:
775:
772:
771:
769:
767:
763:
757:
754:
752:
749:
747:
744:
742:
739:
737:
734:
733:
731:
727:
722:
718:
711:
706:
704:
699:
697:
692:
691:
688:
681:
678:
677:
673:
665:
661:
655:
652:
648:
644:
638:
635:
631:
627:
621:
618:
607:
603:
599:
595:
588:
585:
581:
577:
571:
568:
564:
560:
554:
551:
547:
543:
537:
534:
530:
526:
520:
517:
514:
508:
505:
494:
490:
483:
480:
476:
472:
466:
463:
460:
455:
452:
449:
444:
441:
434:
432:
430:
425:
423:
419:
415:
411:
408:. In 1988, "
407:
402:
400:
392:
390:
388:
384:
378:
376:
371:
369:
365:
361:
357:
353:
349:
340:
331:
326:
324:
319:
317:
312:
311:
309:
308:
304:
300:
299:
296:
292:
288:
287:
284:
280:
276:
275:credit crunch
272:
268:
267:
264:
260:
256:
252:
251:
248:
244:
240:
236:
235:
232:
228:
224:
220:
219:
216:
215:Early history
212:
208:
204:
203:
200:
194:
188:
186:
184:
179:
176:
175:institutional
168:
166:
164:
160:
156:
155:Benno Schmidt
152:
148:
144:
136:
133:
129:
125:
119:
115:
113:
109:
106:
102:
99:
95:
92:
91:United States
88:
85:
81:
67:
63:
60:
57:
53:
50:
47:
43:
39:
34:
19:
870:Pension fund
825:Crowdfunding
654:
637:
620:
609:. Retrieved
597:
587:
570:
553:
536:
519:
512:
507:
496:. Retrieved
492:
482:
465:
459:SEC from ADV
454:
443:
426:
422:white knight
403:
396:
379:
375:World War II
372:
344:
172:
142:
141:
83:Headquarters
45:Company type
751:Secondaries
383:Minute Maid
289:(expansion)
169:Investments
101:Investments
913:Categories
611:2023-02-25
498:2021-10-15
435:References
835:Endowment
803:Investors
746:Mezzanine
606:0362-4331
389:in 1960.
295:The 2020s
283:The 2010s
263:The 2000s
247:The 1990s
231:The 1980s
97:Products
55:Industry
766:History
736:Venture
493:Buyouts
273:to the
189:History
131:Website
73: (
65:Founded
741:Growth
604:
241:boom)
145:is a
719:and
602:ISSN
578:."
561:."
153:and
75:1946
68:1946
645:."
628:."
544:."
527:."
473:."
112:AUM
915::
662:."
600:.
596:.
491:.
431:.
412:"
350:,
185:.
165:.
126:9
103:,
89:,
709:e
702:t
695:v
658:"
624:"
614:.
501:.
469:"
329:e
322:t
315:v
305:)
301:(
277:)
269:(
253:(
237:(
225:)
77:)
20:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
