Providence Equity Group

[Divot]

Do people know that they are in the city? Do they have a big presence? I'd say they are one of the top 10 private equity firms in the country and their headquarters are in downtown Providence. And for those that don't know in the investing/finance world private equity guys are the elite of the elite...

[jencoleslaw]

huh!

[dgreco]

huh!

[pete11]

I think Divot means Providence equity partners.

http://www.provequity.com/port.html

The local impact of private equity firms is usually minimal as most of their investment is global, and does not create an inordanite number of jobs.

[AriPVD]

Providence Equity does create some significant high-earning employment in Providence, but has more potential because of the number of companies they acquire, invest in or directly control. There has been more than one occasion where PE has lobbied companies they own a stake in to move to Providence, with no success thus far. PE probably enjoys a lower profile in Providence than they do in New York, and I have been told this is part of their strategy.

[Divot]

Yeah, I meant Partners not Group... They only have a handful of employees so I'm not surprised that they aren't a household name in the area. However, a good number of them are probably making seven figures. The head of it is on the board of trustees at Brown... I was just wondering if people even knew they were there and what they did... It's pretty interesting stuff and you wouldn't think that a company with 45 people in downtown Providence would be involed with owning these blue chip companies.

[quente]

Having never heard of this group before, now I'm finding blurbs in the Journal on them: Providence Equity director leaves. When you go to the link, you need to scroll down the page.

[JJK5]

Weren't they in talks to buy Clear Channel awhile back? Did that happen?