Private Equity Firms in Chicago

Accel-KKR was established in 2000 as a joint venture between Accel Partners and Kohlberg Kravis Roberts (KKR), combining the expertise of a leading venture firm with a private equity giant. Headquartered in Menlo Park, California, the firm specializes in mid-market software and technology-enabled services. It has raised more than $19 billion across multiple funds, including buyout, growth capital, and credit vehicles. Accel-KKR differentiates itself with a flexible investment strategy, capable of taking majority, minority, or structured equity positions. The firm emphasizes active collaboration with management, leveraging its operational expertise and strong industry connections to accelerate growth and expand market reach.Over its two-decade history, Accel-KKR has invested in more than 300 companies worldwide, producing a long list of successful exits through IPOs and strategic sales. The firm’s portfolio spans enterprise software, data analytics, cybersecurity, and IT infrastructure, reflecting its deep focus on software-driven business models. With around 240 employees, Accel-KKR operates from offices in Menlo Park, Atlanta, Chicago, London, and Mexico City. Its hybrid DNA, born from venture and private equity, gives it a unique position in the mid-market, enabling it to provide flexible, growth-oriented capital. Today, Accel-KKR remains a highly active investor in the software space, committed to helping innovative companies scale into global leaders.

Adams Street Partners is a leading global private markets investment manager headquartered in Chicago. Established in 1972, the firm has over five decades of experience in private equity, offering a comprehensive suite of investment strategies including venture capital, growth equity, buyouts, private credit, and secondary investments. The firm is 100% employee-owned, fostering a culture of alignment and long-term commitment to its clients. With a presence in more than 30 countries across five continents, Adams Street Partners leverages its extensive network and deep industry insights to identify and capitalize on investment opportunities. The firm's global footprint includes offices in key financial centers such as Austin, Beijing, Boston, London, Menlo Park, Munich, New York, Seoul, Singapore, Sydney, Tokyo, and Toronto, enabling it to maintain close relationships with portfolio companies and investors worldwide. Managing approximately $62 billion in assets under management, Adams Street Partners serves a diverse client base comprising corporate and public pension plans, foundations, family offices, and endowments. The firm's commitment to excellence and innovation in private markets investment management has solidified its reputation as a trusted partner for institutional investors seeking long-term value creation.

Arena Private Wealth is an investment firm that operates a modern, integrated platform encompassing private wealth management, alternatives, and capital markets. The firm, which delivers advisory services through OCM Private Wealth, LLC, focuses on balancing long-term wealth stewardship with access to exciting and differentiated investment opportunities. They aim to connect investors with institutional-quality capital and innovative founders, providing a comprehensive approach to financial strategy.The firm's journey began as OCM Private Wealth, LLC, evolving into Arena Private Wealth to navigate financial complexities with intention. Founded in 2024 by Mitchell Stein, Jason Tosh, and Ryan Watt, Arena Private Wealth emphasizes a fiduciary commitment, ensuring client interests are prioritized. Their integrated approach coordinates decisions across various disciplines, reinforcing outcomes across client portfolios.Arena Private Wealth provides access to private investments typically reserved for venture capital and large family offices. A notable investment includes co-leading a $230 million Series B funding round for Positron AI, a growth-stage technology company specializing in energy-efficient AI inference hardware. This investment highlights the firm's engagement in high-growth technology sectors and its role as an alternative capital partner.The leadership team at Arena Private Wealth comprises experienced investment professionals, including founders Mitchell Stein, Jason A. Tosh, CFP®, and Ryan S. Watt, CFP®. Other key members include Ari Schottenstein as Head of Alternatives and Erik Kratz as CIO & Co-Head of Wealth. The team works collaboratively across planning, investments, and client experience to provide clarity in complex financial decisions and ensure continuity in client service.

Artesian Partners is a permanent capital investment group dedicated to the long-term ownership of small businesses across the United States. Unlike traditional private equity firms, Artesian operates as a family equity firm, leveraging capital from a single family with over 150 years of business ownership experience. This unique structure allows the firm to invest with a multi-decade horizon, prioritizing stability, employee retention, and consistent growth without the typical pressures of a fund-based model. They focus on acquiring established micro-cap businesses with EBITDA ranging from $1 million to $7 million, aiming to be the preferred buyer for sellers seeking a trustworthy and enduring partner for their life's work.The firm was founded in 2021 and is headquartered in the Denver, Colorado area, with additional offices in Minneapolis and Chicago. Artesian Partners emphasizes a values-driven approach, centered on doing the right thing, putting people first, and continuously striving for improvement. Their investment model is characterized by acquiring businesses with equity only, avoiding third-party debt in transactions, which de-risks companies from short-term uncertainties and allows for free reinvestment of cash flow.Artesian Partners is industry-agnostic, seeking great companies across various sectors. Their portfolio includes businesses in areas such as monitoring equipment, consumer non-durables, and business/productivity software. The firm is prepared to either step in and operate acquired businesses, work through a transition period with existing ownership, or back the current management team in a recapitalization, depending on the specific needs of each company.The leadership team at Artesian Partners includes Matt Newill as CEO and Derria Banta as COO, supported by a diverse group of professionals in finance, operations, business development, and technology. The team also features individuals leading portfolio companies, such as Chad Danz (CEO of PMG), Doug Pederson (CEO of Hexagon Machine & MFG), Kyle Brengel (CEO of Trace Fiber Services & CC & E), and Nick Wheeler (CEO of Tra-Cal Calibration Lab), reflecting their hands-on approach to business stewardship.

BDT & MSD Partners is a merchant bank built to serve the distinct needs of family- and founder-led businesses. Formed through the 2023 merger of BDT Capital Partners and MSD Partners, the firm combines decades of experience in long-term investing and strategic advisory services. With a focus on partnering with business owners who take a generational view, BDT & MSD offers a unique blend of relationship-based advisory and patient capital. The firm provides a range of services including direct private investments, merchant banking, and alternative asset management, with an emphasis on sectors like consumer, business services, healthcare, and industrials. Its clients include some of the world’s most successful entrepreneurs and multigenerational family enterprises. By aligning capital with strategic counsel, BDT & MSD helps businesses navigate succession planning, capital structure optimization, and long-term value creation. Headquartered in Chicago with offices in New York, Dallas, San Francisco, and Frankfurt, BDT & MSD Partners maintains a global presence. The firm manages and advises on capital across strategies including private equity, credit, and real estate. With a long-term, partnership-driven approach, BDT & MSD Partners is dedicated to building enduring businesses and preserving legacies across generations.

Cerberus Capital Management, L.P., founded in 1992, is a leading global alternative investment firm headquartered in New York City. With approximately $65 billion in assets under management, Cerberus specializes in private equity, credit, and real estate strategies. The firm leverages its integrated investment platforms and proprietary operating capabilities to drive long-term value for investors. The firm is known for its flexible and disciplined investment approach, often targeting distressed assets and underperforming businesses across the capital structure. Cerberus has built a strong track record through value-driven turnarounds, including high-profile investments such as Chrysler and various non-performing loan portfolios worldwide. With a presence across North America, Europe, Asia, Australia, South America, and Africa, Cerberus operates through a global network of affiliate and advisory offices. Its diversified strategies and operational depth allow it to navigate complex markets and deliver consistent returns across asset classes and geographies.

Founded in 2006, Churchill Asset Management began as a direct-lending offshoot of the former Churchill Financial and is now a specialist affiliate of Nuveen, the asset-management arm of TIAA. The firm was created to give private-equity sponsors a long-term partner able to lend across cycles, and it has steadily expanded through a combination of organic growth and the 2015 relaunch under Nuveen’s umbrella. Head-quartered in New York’s Seagram Building at 375 Park Avenue, Churchill’s more than 200 professionals operate from additional offices in Charlotte, Chicago and Los Angeles, drawing on Nuveen’s global infrastructure while retaining an entrepreneurial culture. The joint scale positions the team to originate and underwrite sizeable financings for core U.S. middle-market companies. As of 1 January 2025 the firm oversees roughly US $55 billion in committed capital, investing through senior loans, unitranche structures, second-lien and mezzanine debt, equity co-investments and private-equity fund commitments. Churchill focuses on resilient sectors—healthcare, business services, technology, logistics and financial services—while leveraging its partnership with Arcmont to provide complementary European exposure when clients seek it.

Cyprium Partners is a private investment firm specializing in non-control capital solutions for middle-market companies, including subordinated debt, preferred equity, and minority common equity investments ranging from $5 million to $60 million. The firm targets profitable businesses with EBITDA between $4 million and $40 million, headquartered in the United States or Canada, across sectors such as manufacturing, distribution, business services, healthcare, and technology-enabled services. Investment structures are flexible to support growth capital, acquisitions, ESOP transactions, debt refinancing, shareholder liquidity, management buyouts, family ownership transfers, and independent sponsor-led deals, emphasizing partnership without requiring owners to relinquish control. Established in 1998, Cyprium Partners launched its first investment vehicle that year, building on over 25 years of experience in providing strategic guidance to middle-market owners and management teams. The firm's partners have deployed more than $2 billion across over 100 investments, attracting a diverse investor base including pension funds, insurance companies, family offices, and prior portfolio entrepreneurs. This long-term track record underscores their commitment to value creation through operational support in areas like strategic planning, growth initiatives, data analytics, HR development, and succession planning. The current portfolio features companies in diverse industries, such as Event Lighting for cables and related products, veterinary management services, outdoor structures like sheds and playsets, nut roasting, electrical connectors, shoring equipment rental, apparel decorating, disaster remediation, plastic injection molding, retail pharmacy, railyard services, healthcare blow molding, contract metal fabrication, and hardwood lumber products. Recent transactions include investments in Willamette Valley Meat (March 2025), Washington Metal Fabricators (August 2024), and others like Apollo, Kustom, MGS, Remprex, OneRoRx, Act, Lion, Hirsch Solutions, and DP Nicoli, demonstrating ongoing activity in add-on acquisitions and refinancings. Cyprium's team comprises seasoned investment professionals across Partners, Managing Directors, Principals, Vice Presidents, Senior Associates, and Analysts, led by figures like Cindy Babitt, Mike Conaton, Beth Haas, and others based in Cleveland, New York, and Chicago. Supported by fund administration experts and a council of executive advisors with deep industry knowledge in manufacturing, healthcare, food & beverage, and technology, the firm fosters collaborative relationships to drive portfolio value.

GreenGage Capital, LLC is a small, closely held, family-run fund specializing in the alternative investments space. The firm focuses on providing capital to companies across various sectors, demonstrating a flexible investment approach. Their portfolio indicates an interest in emerging technologies and industries, including areas such as InsurTech, Artificial Intelligence, logistics, and drone technology.The firm was founded in 2013 by Managing Partner David Johnsen, CFA. Johnsen established GreenGage Capital after a distinguished 35-year career as a buy-side investment analyst. His extensive experience includes significant roles at prominent financial institutions such as Continental Bank, Bank of America, and Chicago Equity Partners, where he was a founding partner.GreenGage Capital's investment strategy typically involves deals in the range of $1 million to $5 million, often targeting startups that are 2-3 years old. Notable portfolio companies include WhiteFox Defense Technologies. The firm's investment activities span across diverse areas such as mobile technology, manufacturing, security, and the Internet of Things, reflecting a broad interest in innovative and disruptive businesses.The team at GreenGage Capital, led by David Johnsen, leverages decades of financial expertise to identify and support promising ventures. As a family-run fund, they offer a personalized and hands-on approach to their portfolio companies, aiming to foster growth within the alternative investment landscape.

Founded in 1980, GTCR LLC is a leading private equity firm headquartered in Chicago, Illinois. The firm specializes in investing in growth companies across various sectors, including healthcare, technology, financial services, and business services. GTCR is renowned for its "Leaders Strategy™," which involves partnering with experienced executives to identify, acquire, and build market-leading companies. Over the past four decades, GTCR has invested more than $25 billion in over 280 companies, demonstrating a consistent track record of value creation. The firm's investment approach focuses on leveraged buyouts, growth capital, and roll-up transactions, aiming to drive transformative growth in its portfolio companies. GTCR's team of professionals operates primarily from its Chicago headquarters, with additional offices in New York and West Palm Beach. The firm's collaborative culture and deep sector expertise enable it to identify attractive investment opportunities and support management teams in executing strategic initiatives.

Founded in 2005, Harrison Street is a premier alternative investment management firm focused on real estate, infrastructure and credit strategies across North America, Europe, Asia and the Middle East. With deep expertise in demographic‑driven, needs‑based asset sectors—including senior housing, student housing, healthcare delivery, life sciences, build‑to‑rent, self‑storage and digital infrastructure—the firm delivers customized closed‑end and open‑end vehicles for institutional investors. Headquartered in Chicago with approximately 290 professionals across 12 global offices, Harrison Street manages about US $56 billion in assets and has been recognized repeatedly for excellence in client service, ESG focus and global alternatives investing.

Hayfin Capital Management LLP, founded in 2009, is a premier European alternative asset management platform specializing in providing critical debt, equity, and hybrid capital solutions tailored to meet diverse financing needs for corporates—including both sponsor-backed and non-sponsor entities—as well as real asset owners. The firm employs a value-investing approach across multiple strategies including Direct Lending, Special Opportunities, High-Yield Credit, Securitized Credit, and Private Equity Funds.Headquartered in London, Hayfin has expanded its global footprint with 13 offices spanning Europe, the United States, and a growing presence in Asia. Since inception, Hayfin has invested over €50 billion of capital across more than 500 portfolio companies, managing approximately €35 billion in assets under management. The firm’s investment philosophy combines deep market expertise, disciplined risk management, and a commitment to responsible investing, as evidenced by its signatory status to the Principles of Responsible Investment (PRI).Hayfin’s management team, including co-founders Tim Flynn (CEO) and Mark Tognolini (COO), emphasizes long-term partnership with clients and investors, fostering a culture of collaboration and innovation.

HC Private Investments is a Chicago-based private equity firm that specializes in making direct investments into private, lower middle-market niche manufacturing businesses. Operating as a family office, the firm distinguishes itself from traditional private equity models by offering flexible and patient capital, prioritizing long-term growth over rigid timelines. They focus on identifying growth opportunities and actively engaging executive advisors from the outset to develop and implement value creation plans, often aligned with the Entrepreneurial Operating System (EOS). HC Private Investments seeks to partner with owner-operators or family businesses, providing resources to unlock value potential through various transaction structures, including recapitalizations and generational ownership transitions.The firm was founded in 2016 by Managing Partners John P. Kelly and Matthew J. Moran. Prior to establishing HC Private Investments, Mr. Kelly held an investment professional role at The Tokarz Group Advisers, while Mr. Moran was a senior investment professional at Wind Point Partners. Their combined experience in lower and middle-market private equity laid the groundwork for HC Private Investments' focused investment strategy and operational engagement. Joseph Niciforo, a founding member, serves as the Chairman of the Investment Committee, bringing extensive experience from the financial sector, including his role as Chairman and CEO of HC Technologies.HC Private Investments has built a diverse portfolio of manufacturing companies across consumer and industrial markets. Notable investments and portfolio companies include Artisan Bakery, created through the acquisitions of Snackwerks and Speciality Bakers, and Prince Industries, which expanded its aerospace and defense capabilities with the acquisition of Keystone Precision & Engineering. Other investments have included QEI and Epicurean Butter. The firm also successfully exited its investment in Springboard Manufacturing through a sale to Currier Plastics.The team at HC Private Investments emphasizes a collaborative approach with portfolio company management. John P. Kelly and Matthew J. Moran, as Managing Partners, are actively involved and serve on the boards of several portfolio companies. Kelsey Lawrie, as Managing Director of Talent, leads the Executive Advisor Partners program, connecting portfolio companies with leading executives. Ryan Sullivan, Managing Director of Operations, works directly with companies to implement value creation initiatives. This operational expertise, combined with the financial acumen of the founding partners and the strategic oversight of the investment committee, underpins the firm's approach to fostering growth and maximizing value.

Janus Henderson Investors is a prominent global active asset manager dedicated to assisting clients in achieving their financial objectives through a combination of differentiated insights, disciplined investment strategies, and world-class service. The firm offers a comprehensive suite of investment solutions across various asset classes, including equities, fixed income, multi-asset, and alternatives. Their approach is rooted in extensive research, with investment teams engaging with thousands of companies annually to generate original perspectives that inform their investment positioning.The firm's rich heritage dates back to 1934 with the founding of Henderson Administration in the UK to manage the estate of Alexander Henderson. Separately, Janus Capital was established in 1969 in Denver, Colorado, by Tom Bailey, who aimed to create an independent asset management service in the western United States. Janus Henderson Investors was officially formed in May 2017 through an all-stock merger of Janus Capital Group and Henderson Group, bringing together over 90 years of combined experience in the investment management industry.As a global asset manager, Janus Henderson Investors focuses on delivering long-term risk-adjusted returns across a broad spectrum of investment opportunities. While not a traditional venture capital firm, they engage in strategic partnerships and acquisitions that expand their capabilities, such as their joint venture with Privacore Capital for alternative assets and the acquisition of Victory Park Capital Advisors, a private credit manager. They also manage a diverse range of funds, including those focused on global life sciences and multi-sector income, catering to institutional, intermediary, and individual investors.With over 350 investment professionals and more than 2,000 employees globally, Janus Henderson Investors leverages its extensive network and expertise to innovate in ideas, products, and solutions. Their teams are committed to rigorous analysis, structured processes, and robust risk management, aiming to anticipate and adapt to market changes. The firm emphasizes a client-first philosophy, accountability, and a collaborative culture to deliver on its commitments and invest in a brighter future together.

Jump Trading is a prominent global proprietary trading firm specializing in algorithmic and high-frequency trading strategies across a wide array of asset classes, including futures, options, equities, and cryptocurrencies. The firm leverages advanced research, sophisticated infrastructure, and a culture of innovation to develop and deploy scalable trading models. Their operations are deeply rooted in technological advancement, utilizing AI/ML stacks for real-time inference and custom hardware solutions to maintain a competitive edge in global financial markets.Founded in 1999 by former Chicago Mercantile Exchange (CME) pit traders Paul Gurinas and Bill DiSomma, Jump Trading transitioned from open-outcry trading to become a leader in electronic markets. The founders recognized the future trend of automated trading and invested heavily in technology and infrastructure. Over two decades, the firm has evolved into a powerhouse of traders, engineers, and researchers dedicated to solving complex problems in the financial world.Beyond its core trading activities, Jump Trading has diversified its interests through affiliated entities. Jump Capital, established in 2012, operates as a venture capital firm investing in data-driven technology companies across sectors such as financial technology, IT and data infrastructure, B2B SaaS, and media. Jump Crypto, formally launched in 2021, focuses on venture investing, market making, and infrastructure development within the blockchain, cryptocurrency, and Web3 ecosystems, with notable involvement in projects like Solana, Wormhole, and various DeFi and NFT initiatives. The firm's investment approach is characterized by a commitment to scientific rigor and technological innovation.Jump Trading fosters a collaborative environment where cross-disciplinary teams work from first principles to develop robust models and systems. The firm actively recruits top talent in mathematics, physics, and computer science, providing a platform for professionals and new graduates to engage with challenging, real-world problems in finance and technology. Their team expertise spans quantitative research, software engineering, and custom hardware development, all aimed at enhancing their trading capabilities and broader technological ventures.

Founded in 1991, KPS Capital Partners, LP is a leading global private equity firm that specializes in making controlling equity investments in manufacturing and industrial companies. The firm focuses on creating value by working constructively with management teams to improve strategic positioning, competitiveness, and profitability across its portfolio companies. KPS manages the KPS Special Situations Funds, a family of investment funds with approximately $21.4 billion of assets under management as of December 31, 2024. The firm targets investments in a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment, and general manufacturing. KPS employs a disciplined investment approach, focusing on complex situations such as turnarounds, restructurings, bankruptcies, and corporate divestitures. With a global presence, KPS has offices in New York, Chicago, Frankfurt, and Amsterdam, enabling it to execute investments and support portfolio companies worldwide. The firm's investment strategy is characterized by its ability to identify opportunities where others may not, leveraging its deep industry expertise and operational capabilities to drive transformation and growth in its investments.

Levine Leichtman Capital Partners (LLCP) was founded in 1984 in Los Angeles by Arthur Levine and Lauren Leichtman. Over nearly four decades, it has become a leading middle-market private equity firm with a distinctive structured equity strategy that blends debt and equity capital. With about $12.7 billion in assets under management, LLCP focuses on sectors such as business services, franchising, education and training, and specialized manufacturing. Its investments typically involve providing downside-protected capital while giving management the resources to pursue growth initiatives. This conservative but flexible approach has allowed LLCP to deliver consistent returns across market cycles.The firm operates out of a wide international footprint, including offices in Beverly Hills (HQ), New York, Chicago, Charlotte, Miami, London, Stockholm, The Hague, and Frankfurt. Its team of around 128 professionals combines financial acumen with operational expertise, working closely with portfolio companies to expand product lines, enter new markets, and professionalize operations. Over the years, LLCP has built a strong portfolio that includes household names such as CiCi’s Pizza, Nothing Bundt Cakes, and MB2 Dental. Its reputation for stability and reliability has made it a trusted partner for entrepreneurs and families seeking both liquidity and long-term growth. As it raises successive funds, LLCP continues to be a leading provider of structured equity solutions in the U.S. and Europe.

Founded in 2004, Linden Capital Partners is a Chicago-based private equity firm focused exclusively on the healthcare and life sciences sectors. The firm specializes in leveraged investments in middle-market companies, aiming to drive growth and create value through strategic partnerships and operational expertise. Linden's investment strategy centers on three core elements: healthcare specialization, integrated private equity and operating expertise, and a differentiated human capital program. This approach enables the firm to identify and cultivate opportunities in medical products, specialty distribution, pharmaceuticals, and healthcare services. With over $13 billion in regulatory assets under management as of April 2025, Linden has invested in more than 45 healthcare companies, encompassing over 350 transactions. The firm's commitment to collaborative partnerships and its Value Creation Program have been instrumental in building strong platforms and thriving businesses within the healthcare industry.

Mutares SE & Co. KGaA, founded in 2008 and headquartered in Munich, Germany, is a publicly traded industrial holding and private equity investor specializing in carve‑outs and turnaround situations. The firm targets medium‑sized companies with revenues typically between €50 million and €750 million, aiming to leverage operational transformation to drive long‑term growth. Organized into four segments—Automotive & Mobility, Engineering & Technology, Goods & Services, and Retail & Food—Mutares actively develops and restructures its portfolio through hands‑on management and dedicated in‑house teams. As of December 31, 2024, it holds 32 operating investments globally, employing over 29,000 people and generating consolidated revenue of approximately €4.72 billion. Governed under a dual‑board structure in Munich, Mutares emphasizes strong corporate governance, ESG principles, and sustainable shareholder value—paying annual dividends and maintaining transparent reporting through quarterly updates and non‑financial disclosures.

Founded in 1939, Neuberger Berman is a private, independent, and employee-owned investment management firm headquartered in New York City. With a commitment to active management and long-term client partnerships, the firm offers a broad range of investment strategies, including equities, fixed income, private equity, hedge funds, and multi-asset solutions. Neuberger Berman serves a diverse clientele comprising institutions, advisors, and high-net-worth individuals globally. The firm's investment philosophy emphasizes fundamental research and a client-centric approach. Its private equity division, NB Private Markets, has a team of over 300 professionals across 17 offices worldwide, focusing on co-investments, secondaries, and direct investments. In 2025, Neuberger Berman closed its NB Strategic Capital Fund II with over $4 billion in commitments, underscoring its leadership in GP-led secondary transactions. Operating from offices in 39 cities across 26 countries, Neuberger Berman's global presence enables it to access a wide array of investment opportunities. The firm's dedication to sustainability is evident through its commitment to the Net Zero Asset Managers Initiative, aiming for net-zero emissions by 2050. With a workforce of approximately 3,100 employees, Neuberger Berman continues to prioritize delivering superior investment outcomes for its clients.