MiB: David Layton, CEO of Companions Group

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David Layton is the chief government officer of Companions Group, a worldwide personal markets agency with greater than $135 billion in belongings below administration. Layton, who joined Companions Group in 2005, leads the agency’s government group and world government board and can be a member of the worldwide funding committee. He was beforehand the top of Companions Group’s personal fairness enterprise division.

The agency has invested $195 billion since 1996. Right this moment, they’ve 1,800 staff worldwide serving 800 institutional purchasers, and their wholly owned portfolio firm make use of 250,000 individuals. Layton explains how the agency is extra like a big industrial conglomerate working wholly owned subsidiaries than a personal fairness agency shopping for corporations to flip them at a revenue.

Layton talks about why he banned the phrase “Deal” from the corporate. The issues that made PE profitable prior to now – the deal-doing mindset, the overemphasis on transactional enterprise – should not the issues which can be going to make fashionable PE corporations achieve success sooner or later. He notes the enterprise is now about constructing companies. The agency spends as a lot as 5 years prior to creating an acquisition.

An inventory of his favourite books is right here; A transcript of our dialog is on the market right here Tuesday.

You possibly can stream and obtain our full dialog, together with any podcast extras, on iTunes, Spotify, Stitcher, Google, YouTube, and Bloomberg. All of our earlier podcasts in your favourite pod hosts may be discovered right here.

You’ll want to try our Masters in Enterprise subsequent week with Maria Vassalou, Chief Funding Officer of Multi-Asset Options at Goldman Sachs Asset Administration. She was a Professor of Finance at Columbia Enterprise College the place her educational analysis led her to determine lots of the funding rules she employs right this moment. At Columbia, she did consulting work for quite a few establishments earlier than becoming a member of Soros Capital Administration and S.A.C. Capital Advisors.