How it started
History
In 2008, Providence hired Thomas Gahan as president of the firm's new capital markets group and its affiliate, Benefit Street Partners. Prior to joining Providence, Gahan was head of Deutsche Bank's corporate and investment banking in the Americas and chief executive officer of Deutsche Bank Securities. Benefit Street Partners closed on a $1.75 billion middle market direct lending fund in April 2014. The credit platform was sold to Franklin Templeton Investments in October 2018.
In 2014, Providence established Providence Strategic Growth (PSG), its growth equity affiliate focused on investments in lower middle market software and technology-enabled service companies. PSG is headquartered in Boston, Massachusetts, with offices in London and Kansas City.
Providence's investments have included AutoTrader.com Group, Blackboard Inc., Conversica, eircom, Hulu, Kabel Deutschland, MLS Media, NEW Asurion, Bluestone Television, Newport Television, Univision, VoiceStream (now T-Mobile US), Warner Music Group, Western Wireless, and World Triathlon Corporation (Ironman), YES Network and TopGolf.
Since 2013, significant investments by the firm include 365 Retail Markets, Ambassador Theatre Group, DoubleVerify, Learfield Communications, GlobalTranz, Groupe La Centrale, MásMóvil Group, n2y, Node4, Smartly.io, TAIT, Tenstreet, and TCP.
Providence's recent exits include TES, Galileo Global Education, EdgeConneX, OEConnection, PADI, Ascend Learning, Vector Solutions and ZeniMax Media.
From Wikipedia’s article on Providence Equity Partners, shared under CC BY-SA 4.0.2