When people who were alive during the halcyon days of the 90’s hear the name Steve Young, they remember one of the most dominant quarterbacks to ever play the game of football. To this day, Young is still one of the players in the National Football League with the highest rankings in a number of different fields. He has won 3 Super Bowls, has been awarded the Most Valuable Player of Super Bowl XXIX, has the highest number of rushing touchdowns for a QB, and holds a record 6 NFL passing rating titles (along with holding highest ever passing rating of 96.8 amongst NFL QBs).
Now, Young can also add “highly successful financial advisor” to his resume of impressive accomplishments.
After retiring from professional sports, Steve Young ended up branching out in a manner that probably surprised most people who followed his athletic career. Starting out as a co-founder and Managing Director of Sorenson Capital, a private equity fund which focused on middle market leveraged buyouts.
He is now a cofounder and partner at HGGC (formerly Huntsman Gay Capital Partners), a private-equity firm that has been blowing the competition out of the water when it comes to performance.
Just how well is his firm performing? HGGC closed out its second round of funding in early 2015 and ended up raising $1.3 billion, a hugely impressive number by any standard. Young and his firm have also lined up some impressive deals with partners including AutoAlert and insurance-services firm Pearl Holding Group.
Part of the reason HGGC was able to raise so much money this second round is due to the performance the first fund raised in 2008. With internal returns of 18.3% and an investment multiple of 1.7 times, there was a lot of confidence in the firm during the second round of funding. With the upper quartile funds raised in 2008 at 1.76 times for investment multiple and an IRR of about 22%, Young’s fund outperformed a huge number of previously known funds in only its first attempt.
Young has had previous experience working at other investment firms in the past and clearly it has paid off — it doesn’t seem like he or HGGC are going anywhere any time soon and hitching your horse to this bandwagon may be a good thing for anyone who can.
If you’d like to learn more, please read the original article, found here.