Jefferson Stone
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Hey Jefferson — similar path (IB → PE investing). been thinking a lot about origination in the lower mid-market / independent sponsor space lately. would be good to connect.
Hey Jefferson, similar investing background though I was in London at CS & Greenhill not on the LP/allocator side like you. origination was always the same story for me — clear thesis, decent relationships, but no proprietary system of record tying anything together. the people, tools and ideas were never really connected. every deal virtually sourced from scratch, nothing compounding over time. curious if that's still how most funds operate or if I'm behind the times? — Russ
Hey Jefferson, looks like we share a similar investing background, though I was in London doing growth equity deals not in San Diego backing emerging GP and independent sponsor partnerships like you. the pattern I keep seeing with most funds is weirdly consistent — strong thesis, solid network, but no proprietary system of record. the people, tools and ideas are never really connected. every deal virtually sourced from scratch, nothing compounds on itself. curious if that resonates or if you've built something different at Barrel Rate? — Russ
hey Jefferson — no worries if the timing's off. most funds I talk to have tried some version of building origination in-house — analyst pulling from Pitchbook or Grata, maybe using ChatGPT to help qualify, dumping it into a spreadsheet. each piece kind of works, but there's no system of record tying it together. the people, tools and ideas stay disconnected, so there's tonnes of wasted energy. been helping a few funds like Mentmore Capital work through that. curious if you've run into the same thing at Barrel Rate? — Russ
totally get it if origination infrastructure isn't top of mind right now — most funds have 10 things ahead of it on the priority list. the funds I've seen crack it early just tend to compound deal flow in a way that's hard to replicate later. if it ever moves up the list, I'm easy to find. — Russ
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Prospect Research
## PROSPECT INFORMATION: Name: Jefferson Stone Title: Managing Principal (Founder / Managing Partner) Fund: Barrel Rate Capital Background: Jefferson Stone is the Founder and Managing Partner of Barrel Rate Capital, based in San Diego. Launched in late 2022, his firm focuses on the smaller end of the lower mid-market, specifically investing in private equity funds, co-investments, and direct transactions. He targets high-potential managers raising their first or second institutional pools and looks for deals with advantageous purchase price multiples and strong cash flow. With 28 years of industry experience, Jefferson has a deep background in investment due diligence and institutional relationships. He previously served as Director of Investments and Research at the William and Flora Hewlett Foundation, where he managed a team and repositioned their alternative investment portfolio by shifting focus from mega buyout funds to specialized small and mid-market funds. He held various leadership roles at Probitas Partners, Axiom Asia Private Capital (where he serves on the Board of Directors), and ShorelineAmbrose Advisors. He also spent seven years as an Independent Instructor for the Institutional Limited Partners Association (ILPA), teaching due diligence modules. Education: - MBA from The Wharton School (Palmer Scholar, Siebel Scholarship Recipient, top 5% of class). - BA in History and Political Science from UC San Diego (Highest Distinction). - Completed the Directors' College executive program at Stanford University. Key Skills: Private Equity, Venture Capital, Due Diligence, Alternative Investments, and Portfolio Management. Recent LinkedIn Activity: - October 19, 2024: "After another fantastic week in Dallas at the McGuireWoods LLP Independent Sponsor Conference, I am excited to head to NYC to participate in GCM Grosvenor's SEM Consortium. The best opportunities available in the lower middle market are the most compelling I have seen in my 28 years in this industry!" - June 24, 2024: "Quality First represents our sixth transaction since inception, and is a shining example of the compelling deal dynamics in today's market. Stay tuned for additional announcements this summer!" - November 16, 2023: "Congratulations Jeff Magny and the Lincoln Road Global Management, LLC team! Barrel Rate Capital is excited to partner with you on this transaction, and to enthusiastically support your team in the next stage of growth!" - October 2, 2023: "Congratulations Bart Macdonald and Bloom Equity Partners! Barrel Rate is excited to partner with you on this transaction, and to support RightCrowd with its global growth plans." - November 4, 2022: "I’m thrilled to share that I have launched my new firm, Barrel Rate Capital!" Fund details: - Description: Barrel Rate seeks to generate an outsized multiple of capital by partnering with private equity general partners and independent sponsors who are able to identify proprietary opportunities, structure transactions with downside protection, and capture excess returns by growing their companies to a scale where market efficiencies produce excellent exit prospects. - Website: https://www.barrelrate.com/ - Location: San Diego, California, United States - Lead qualification: Research: - Query: =Barrel Rate Capital Jefferson Stone recent investments fund thesis - Answer: