"Historically, in our industry of alternative investments in particular, the processes around the investment lifecycle have not been technology-driven," Lamanna told Insider. Lamanna, Apollo's chief information officer, described the investment firm's tech strategy as focused on two major areas: automation, as well as data and analytics. Here is a list of top tech execs to know in the private equity industry. But now that PE has gotten a taste of tech, the floodgates are open and the industry is poised to have its big tech moment.
"It's kind of like the tortoise versus the hare," Sean Mooney, a 20-year PE vet who founded data-analytics company BluWave, told Insider, comparing private-equity firms to other Wall Street players. That's positioned PE shops behind their peers across the Street, where banks and hedge funds have been investing in tech and talent for years. Private equity has largely taken a wait-and-see approach to investing and building internal tech operations. Who they are and what they do has never been more important as the industry-at-large hits a turning point.īut it's not going to be easy for these leaders to execute their lofty tech ambitions. Others, like Blackstone, have been able to take on bigger and more complex deals by applying a more quantitative approach to dealmaking.Īs technology emerges as a key value proposition, the executives in charge of internal IT operations and strategy are stepping into their own spotlight as powerhouses of the private-equity world. Lee, are using the cloud to edge out competition in the bidding process, pitching target companies on cost savings and IT modernization. Now, cutting-edge technologies, like data science, AI, and blockchain, are upending the sector's traditional business models and those that have embraced tech are getting a leg up. The business of scouting for investments, sizing up companies, and cutting deals has traditionally been more art than science.īut that's starting to change as some of the largest PE firms take the plunge to invest in their own internal tech. In the world of private equity, where firms generate returns and mint millions of dollars by relying on human judgment, technology hasn't always had a strong foothold.
Insider has pinpointed a dozen top tech executives to know across the private-equity industry.Alt-data and AI capabilities are emerging as ways for firms to make deals and win new business.The people responsible for private-equity firms' internal tech have never been more important.
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