Alan Patricof

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Alan Patricof
Born Alan Joel Patricof
1934[1]
New York, New York
Residence New York, New York
Nationality American
Alma mater Ohio State University
Columbia University (MBA)
Occupation Businessman
Known for Founder of private equity firm Apax Partners
Spouse(s) Bette Patricof Hollander (divorced)
Susan Hatkoff
Children Mark Patricof (with Hollander);
Jamie Patricof (with Hatkoff);
Jonathon Patricof (with Hatkoff)

Alan Patricof (born 1934) is an American investor and one of the early pioneers of the venture capital and private equity industries. Patricof founded Apax Partners (based on a play on Patricof's name: Alan Patricof Associates Cross (x) Border), which is today one of the largest private equity firms globally.

Early life and education[edit]

Patricof grew up in a Jewish family[2] on the Upper West Side of Manhattan, New York City,[3] the son of immigrants from Russia. His father was a small time stockbroker.[1] He graduated from The Ohio State University in 1955 after only three years and earned an M.B.A. from Columbia University in 1957 while working full-time as an analyst for an investment firm.[3][4] While a student at Ohio State, he became a member of the Nu chapter of the Zeta Beta Tau Fraternity.[5]

Career[edit]

Patricof worked from the ground up and eventually was assigned the management of the Gottesman pulp and paper fortune.[1] Tired of the irrational volatility of the stock market,[3] he focused his efforts on the new private companies in the portfolio.[1] In 1967, he invested in New York magazine, a new publication, where he served as the founding chairman of the board. The magazine was a success and his efforts elevated his business profile.[1] In 1969, he was able to raise $2.5 million and founded one of the first venture capital firms, Patricof Company Ventures. In 1977, he founded the private equity firm Apax Partners.[3] Patricof is an active investor: he always takes a seat on the company's board and is very vocal with his views.[3]

By the mid-1990s Apax had become one of the larger private equity firms globally. In 2001, Patricof stepped back from day-to-day management of Apax Partners, Inc., the US arm of the firm to return to his original focus on making venture capital investments in small early-stage companies. In 2006, Patricof left Apax to form Greycroft Partners which focuses on small early-stage venture capital investments.

As an early investor in venture capital and has been involved in the development of numerous major companies including America Online, Office Depot, Cadence Design Systems, Apple Computer and FORE Systems. He was a founder and chairman of the board of New York magazine, which later acquired the Village Voice and New West magazine.[6] Patricof also acquired style magazine Details in 1987.[7] He has also been involved with Cellular Communications, Inc., NTL, and Audible.

Over the course of his 40-year career in private equity, Patricof has been instrumental in growing the venture capital field from a base of high net-worth individuals to its position today with broad institutional backing, as well as playing a key role in the essential legislative initiatives that have guided its evolution.

Personal life[edit]

Patricof has been married twice:

  • He was married to Bette Patricof Hollander.[8][9][10] They later divorced. They had one child:
    • Mark F. Patricof (b. 1964) who is married to Martha Shelburne Jones, a daughter of Anne Shelburne Jones and Bishop Edward Witker Jones of Indianapolis. Her father was then bishop of the Episcopal Diocese of Indianapolis.[8][9] They have two children: Lily and Nina.
  • His second marriage was to Susan Hatkoff.[11] She is the sister of Craig Hatkoff.[12] They have two sons:
    • Jamie Patricof, movie and television producer. He is married to former model Kelly Sawyer.[13] They have two children: Riley and Sawyer.
    • Jonathan Cale Patricof (b. 1973), President of Tribeca Enterprises the company that owns and operates the Tribeca Film Festival. He is married to Victoria Ann Radford of New York.[14] They have three children: Jack, Chloe and Lila.[15][16]

The Patricofs live in New York, New York.[1]

Political and other affiliations[edit]

Patricof has been active in Democratic Party politics, contributing to candidates including Bill and Hillary Clinton,[17][18][19][20][21] whom he met in the Hamptons when they were there as guests of lobbyist and Democratic activist Liz Robbins.[22] Patricof serves on the Board of Trustees of Columbia University Graduate School of Business.[citation needed] As of 2011 he serves as an advisor to the Grassroots Business Fund[23]

See also[edit]

References[edit]

  1. ^ a b c d e f CNN Money: "This old guy sure can pick 'em - Fortune's Oliver Ryan looks at how legendary media investor Alan Patricof has found new life in the Big Apple's web startup scene" by Oliver Ryan September 11, 2007
  2. ^ JTA News Brief May 17, 2007
  3. ^ a b c d e New York Times: "STRICTLY BUSINESS; A Venture Capitalist and His Politics" By DOUGLAS MARTIN November 02, 1992
  4. ^ New York Times: Dealbook: "Kravis Gives $100 Million to Columbia B-School" By MICHAEL J. DE LA MERCED October 5, 2010
  5. ^ Makio. Columbus: The Ohio State University. 1955. p. 108. 
  6. ^ 2006 Wharton Private Equity Conference Keynote Speaker
  7. ^ Details Gets New Owner. New York Times, June 6, 1987.
  8. ^ a b New York Times: "WEDDINGS; Martha S. Jones, Mark F. Patricof" July 26, 1992
  9. ^ a b New York Times: "Martha Jones To Wed in July" February 16, 1992.
  10. ^ Legal Eagle: HOLLANDER v. COMMISSIONER 34 T.C.M. 718 (1975)T.C. Memo. 1975-157 Bette Patricof Hollander v. Commissioner. Docket No. 4020-73. United States Tax Court. Filed May 22, 1975 retrieved August 10, 2012
  11. ^ The Albany Times Union: "Producer rekindles 'Toyland' memories - Movieman behind "Pines" visits with his family who ran well-known stores" By PAUL GRONDAHL September 28, 2011
  12. ^ New York Magazine: "Jane of All Trades" by Meryl Gordon retrieved June 25, 2013
  13. ^ ELLE & The Coveteur: Kelly Sawyer Patricof - Creative Director, Satine Private Label. Los Angeles retrieved August 10, 2012
  14. ^ New York Times: "WEDDINGS; Victoria Radford, Jonathan Patricof" June 25, 2000
  15. ^ New York Observer: Filmic Finance Scion Buys on Park By Elise Knutsen January 4, 2012
  16. ^ Sorkin, Andrew Ross. "New Fund for Prominent Investor". New York Times, March 6, 2006.
  17. ^ Martin, Douglas. STRICTLY BUSINESS; A Venture Capitalist and His Politics New York Times, November 2, 1992.
  18. ^ Donors Who Stayed at the White House New York Times, March 2, 1997.
  19. ^ Murphy, Rick. Presidential Fund-Raising On a Hamptons Weekend. New York Times, July 19, 1998.
  20. ^ Luo, Michael. Facing Obama Fund-Raising Juggernaut, Clinton Seeks New Sources of Cash New York Times, April 20, 2008
  21. ^ JTA: "Jewish Clinton backers warn Pelosi on meddling" March 28, 2008
  22. ^ Grove, Lloyd, "World According to ... Alan Patricof" Portfolio.com, December 4, 2007. Retrieved 5/3/09.
  23. ^ Grassroots Business Fund (2011). Governing Board and Advisors. Retrieved February, 2011.

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