Seek buyout fund managers and build strong partnerships.
"Fund First" Sourcing
Strategic Diversification
Relationship-Based Access
Thrivent Private Investments has a growing and diversified
private equity portfolio. We are actively pursuing investments in these areas:
Lower and Middle Market Buyout Funds
Our private equity strategy centers on North American based lower
middle market and middle market buyout funds - a space where we see
opportunity and alignment with our long-term goals. We actively seek to partner with
proven fund managers who demonstrate deep expertise, strategic consistency, and a strong
track record of performance.
Our portfolio typically includes funds raising between $200M and $3B,
positioned as industry specialists or high-performing generalists. These managers generally seek
to invest
in companies with $10-100M in EBITDA, targeting scalable business in growing
markets with strong fundamentals. We look for teams that are disciplined, experienced,
and compliment our culture. Each fund we back reflects our commitment to thoughtful
capital deployment and long-term value creation.
Equity Co-Investments
Our equity co-investment strategy is a cornerstone of the Thrivent Private Investments' private equity program
, representing about 38%1 of our total portfolio value. By
evaluating opportunities side-by-side with our core partners, we gain deeper insight
into their operations and strengthen alignment across investment decisions.
Our focus is on companies with profitable business models, high free-cash flow, and
clear paths to value creation through growth and operational improvements. As a
generalist investor, our portfolio spans a wide range of sectors allowing us
to remain agile and diversified while pursuing compelling opportunities.
Other Alternative Assets
To complement our core buyout program, Thrivent Private
Investments strategically commits capital to alternative asset strategies - including
growth equity, large market buyouts, and structured solutions. These investments allow
us to broaden our exposure while maintaining the same disciplined approach that defines
our private equity platform.
Within these strategies, we aim to pursue opportunities that offer attractive
risk-adjusted returns, partnering with fund managers who bring differentiated insights
and execution capabilities. This approach enhances our portfolio's diversification and
positions us to capitalize on compelling opportunities across the private equity
landscape.
