As the world digs out from under the effects of one of the greatest economic crises in history, there are few people who can survey the financial landscape and provide experience, perspective, and wisdom the way Peter Brooke can. The chairman and founder of Advent International and before that the founder of TA Associates, Brooke is one of the pioneers of New England venture capital and perhaps the first to successfully introduce the venture capital and private equity models globally— accomplishments that helped earn him the nickname “the Johnny Appleseed of venture capital.”
We are extremely pleased that Brooke will share his knowledge with Xconomy’s audience in an intimate private chat to be held on October 21 at the offices of WilmerHale in downtown Boston. And we are doubly fortunate that the person interviewing Brooke is another legend in venture capital—Terry McGuire, co-founder and managing director of Polaris Venture Partners and chairman of the National Venture Capital Association.
I caught up with Brooke yesterday and asked for a few thoughts he hopes to expound on at the forum.
—On impending government efforts to increase regulation of private equity:
“The big concern I have is that because of the transgressions of a few of the managers in private equity, we’re inviting some regulations that might be very restrictive to what has been a productive industry,” Brooke says.
“I don’t think the actions of a few are representative of most of the people who have been adding real value in private equity,” he says. “I would hate to see that good work derailed.” Therefore, he says, “I think that our objective should be to make as good a case as we can for the constructive role [of private equity] in building companies.” That, he says, will hopefully avoid the worst. “But I think we’re going to have to count on some form of regulation increase anyway.”
—On the role of private equity in recovery:
“It’s the key to a more efficient operation of existing business units,” Brooke says. “The more you increase the efficiency of a company, the more jobs you’re going to add over the long run, and the more competitive your investee companies are going to be. And so I think it has everything to do with recovery, as does venture capital, in creating new businesses.”
This special Xconomy Forum will begin at 6 pm on October 21, in a spectacular setting on the 26th floor of WilmerHale’s downtown Boston offices. The conversation between these two legends of New England investing will be followed by a networking reception. Seating is limited, and tickets are going fast. You can learn more and register here.
