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Bay Grove

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Bay Grove

Overview:

At Bay Grove, we invest in and build platform companies that can grow over long time horizons. To do this we:
Inspire and empower great people
Create potent, entrepreneurial cultures with powerful incentives
Develop deep domain expertise
Make decision with a truly long-term outlook

History:

Bay Grove was formed in late 2007 by Kevin Marchetti, Adam Forste and Dave Brandes. The three were former colleagues in Morgan Stanley's investment banking group who reunited after their respective tenures in institutional private equity ‐ Kevin at The Yucaipa Companies, Adam at Kohlberg Kravis Roberts & Co. (KKR), and Dave at Shorenstein Properties.

During Bay Grove's formative period, Adam and Kevin conceived a simple vision for Bay Grove ‐ make it a vehicle to enable exceptional direct investments that can compound tax‐efficiently over very long periods of time. The execution of this vision required a deviation from the traditional private equity model of 3‐5 year hold periods and a diverse portfolio of investments typically spanning a variety of industries. Rather, the team has developed a distinctive approach focused on several core tenets:

Create platform companies one at a time with investment lifespans measured in decades, not years

Build these platforms through a combination of acquisitions and organic deployment of capital

Develop deep domain expertise around each platform to increase the investment opportunity set and improve risk‐adjusted returns

Execute short and long term investments simultaneously within companies to maximize value creation

Use capital and capital markets as efficiently as possible to further enhance returns

Use Bay Grove's bedrock to help guide companies to outstanding results

Since late 2008, Lineage Logistics has become the first embodiment of the Bay Grove vision and approach. Currently, the team devotes all of its time to the growth and success of this platform. This will likely be the case for the foreseeable future and until it is time to begin anew in building a second platform.

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