Providence Equity Partners VI

Providence Equity Partners VI General Information

Description

Providence Equity Partners VI is a buyout fund managed by Providence Equity Partners. The fund is located in Providence, Rhode Island. The fund closed its sixth flagship fund at $12.1 billion on February 21, 2007. The fund will invest $100 to $800 million in 15 to 20 mid- to large-cap companies. Investments will be made through a variety of transaction types, including leveraged buyouts, growth capital infusions, consolidations and business turnarounds. The fund will seek to structure its transactions to take controlling interests, minority positions with board seats, and/or negative control positions. The fund will also seek to negotiate favorable financial structures to ensure senior liquidation preferences and preferred returns to help limit downside protection. The fund's exit strategy includes sales to strategic buyers, financial buyers, and public offerings. The fund will focus on investing in companies the media, communications, entertainment, and information industries. Target portfolio companies will have strong revenue patterns or the potential for strong earnings growth in sectors that exhibit strong growth trends, limited competition, low levels of required capital expenditures, and little technology risk. While the fund will focus its investments in the United States, Canada and Western Europe, it has a target investment exposure of 10% in Asia. The fund will be managed by an investment team of 15 principals and 30 additional investment professionals in the firm's offices in Providence, New York City, and London. Additionally, during the time of the fund's capital raising, the firm opened offices in Hong Kong and Delhi to assist in expanding its Asian investment operations.