Jeffrey Stevenson, Managing Partner at VeronisSuhler Stevenson (VSS), shared his vision on the private equity industry with Privcap founder David Snow in July 2011. While this interview happened almost a decade ago, it’s interesting to note what, if anything, about Stevenson’s views regarding the PE landscape in New York have changed since the economy’s rebound from the 2008 economic crash. The primary focus at VSS is on media, so naturally a significant amount of the interview between the two industry professionals focused on media industry outlooks and predictions.
Stevenson Bearish About Future of Media
As reported in the Argyle Journal, Snow asked Jeffrey Stevenson whether Stevenson was bearish or bullish regarding the future of media companies. Stevenson states that it really depends on how you define media. If you look only at the traditional media outlets like print, then Stevenson was bearish back in 2011. On the other hand, if you define media as data-driven educational information and marketing, then Jeffrey Stevenson was definitely bullish regarding the media industry’s future.
PE Firm Executive Succession Plans
Based out of New York since graduating from Rutgers in the early 1980’s, Jeffrey Stevenson has been a partner at the media-focused VeronisSuhler Stevenson for almost 40 years. VSS is a handful of firms who have put together a specific and detailed succession plan. More and more investors are asking questions and wanting assurances that the PE firm executives have the proper incentives in place to ensure they’re going to do the work needed over the five-year and ten-year term of the investment.
Changing PE Investors
Additionally, Snow asked Stevenson to characterize the changing nature of private equity investors. Stevenson points out the emergence of Asian investors as newly emerging members of the asset class. While European and American investors have been major players in private equity for oftentimes decades, Asian investors are still relatively newcomers, Stevenson reports.
According to Jeffrey Stevenson, many of the more mature PE investors who are American and European are often facing the challenge of hitting their allocation percentages. At the time of this 2011, interview, Stevenson predicted that VeronisSuhler Stevenson would be spending more time in and around Asia, taking meetings with potential investors.
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