This NFL Hall of Fame quarterback's investment firm is on a tear
He's a three-time Super Bowl champion who is decorated with accomplishments from his collegiate and pro career.He is also running a private-equity firm that is outperforming many of its competitors.
HGGC closed its second fund in early 2015, raising more than $1.3 billion. The fund has already lined up some big deals, including AutoAlert, which looks to bring data analytics to the automotive market, and the insurance-services firm Pearl Holding Group.
Going longHGGC's first fund posted an internal rate of return of 18.3% and an investment multiple of 1.7 times. It raised that fund in 2008, according to Calpers data. According to Cambridge Associates, which tracks the performance of private-equity firms, the upper quartile of private-equity funds raised in 2008 is 1.76 times for investment multiple and an IRR of about 22%. The multiple reflects how much cash a fund made compared with the investor's initial investment.
Put another way: Young's investment firm is matching or besting some of the leading US private-equity firms, and it is only on its second fund.Business Insider reached out to Young via email, but he did not respond. Before cofounding HGGC, Young worked with private-equity firms including Sorenson Capital in Utah and Northgate Private Equity Partners, a California fund that was launched by former NFL players Brent Jones and Tommy Vardell, among others.
It seems Young, who is reportedly worth $40 million, is determined to keep going long after so much success on the gridiron.
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