The private equity operation is not as well-known as some of its competitors, but it has been steadily and skillfully going about its business. GCP Capital Partners (“GCP”) manages North American private equity funds that have invested approximately $1.3 billion in approximately 60 portfolio companies. The firm generally makes controlling or influential minority investments of $10 to $50 million in companies with enterprise values of $25 to $250 million.
It’s latest sale was of portfolio company Transfast, an international money transfer and cross-border payments company with headquarters in New York and additional offices in the UAE and the Philippines. The company is a provider of multi-currency, cross-border payments solutions for consumers and businesses around the world. Remittances are processed through its wholly owned direct-to-bank network, and the company offers 200,000 cash payout points across 120 countries.
According to Mastercard’s Chief Product Officer Michael Miebach, “We believe Transfast gives us the strongest platform to immediately enhance our cross-border capabilities and further deliver on our strategy.” Also mentioning, “The addition of Transfast adds to our leading position in meeting business, government and consumer payments needs – whether B2B, P2P or other flows. Today’s news cements our collaboration and sets the stage to provide our customers a unique, ready-to-go solution upon closing.”
Since 2000, GCP’s realized investments have generated over $2.5 billion in proceeds. Fourteen of GCP's portfolio companies have gone public after GCP's investment. The firm primarily makes investments in the tech-enabled business services and financial services/technology industries.
Managing GCP’s activities is a cohesive team of senior investment professionals with long track records in private equity, having completed over 100 private equity investments across their careers and average over 20 years of private equity experience. The senior investment professionals are also experienced mentors to entrepreneurs and strategic partners with management teams.