Peter Lacaillade

They grew it to $7 billion at the time I joined in 2011.

And a few years later, we did a deal with a firm here in Greenwich, Stone Point Capital, because we had a few early founders that were no longer involved, as well as a family or two that put us into business.

We needed a liquidity solution.

So we sold 25%.

of the equity to Stumpoint.

Stumpoint, incredible partners.

And then I might be a little off on dates, but 2017 or so, 16, 17, SCS, we were transitioning from Gen 1 to Gen 2.

we needed to do a more holistic solution.

And StonePoint bought a firm that was called Focus Financial.

And then you fast forward, they took it public.

You fast forward a little more, we're talking it's 2021, 2022.

And Focus at that point in time has grown to about 90 firms, 400 billion under management.

But you basically have 90 firms doing 90 different things.

And Clayton DuBlair and Rice saw the opportunity to take it private and to actually integrate the company a bit and to really leverage the scale of focus across investments, technology.

a bunch of different kind of vectors and not have 90 firms do 90 different things, but organize it into various kind of divisions or hubs that are best in class.

And the core mission behind focus is really putting the client at the center.

But these changes really benefit the client first, but then also the employees of the different firms and ultimately the investors at the private equity firm.

So we're about 18 months into the take private.

It was end of January, 2023.

The take private was announced.