Key Takeaways
- • InTandem Capital Partners, a healthcare services-focused private equity firm, launched Private Equity for Greater Good, a program extending equity gain-sharing to all full-time employees of its backed portfolio companies.
- • InTandem has committed the program to applicable existing investments and all new investments made from its managed funds, with plan documents designed alongside counsel Goodwin Procter LLP, which will administer it at no cost.
- • The initiative is positioned as an industry-wide call to action, with the private equity sector managing approximately $5 trillion in assets and firm-level participation requiring only a commitment to share gains with employees.
- • Brandywine Group Advisors, a longtime limited partner, publicly endorsed the program, framing it as a driver of investment performance through stakeholder alignment.
Summary
InTandem Capital Partners, LLC ("InTandem Capital"), a healthcare services-focused private equity firm, announced the formation and launch of Private Equity for Greater Good, a program designed to enable all full-time employees at InTandem-backed portfolio companies to share in the equity gains they help create, according to a Business Wire release. The program departs from the typical concentration of equity participation among senior executives by broadening incentive equity grants to all contributing employees, and the firm envisions it as an industry-wide effort to shift norms of incentive equity plan construction.
InTandem Capital said the program is grounded in the view that success should be shared with all contributors in proportion to tenure, citing growing income and wealth inequality. The firm argues that employee participation also benefits shareholders through improved engagement, retention, alignment and productivity. Managing Partner Elliot Cooperstone said that by sharing investment gains, the firm is supporting team members while enhancing motivation and retention across all levels. The release notes that the program was inspired by earlier efforts of Bob Patricelli, an InTandem Strategic Advisor and healthcare industry veteran, who worked with Congressman John Larson (D-CT), with Tom Suozzi (D-NY) and Bill Pascrell (D-NJ) as co-sponsors, on 2021 legislation aimed at incentivizing broader equity ownership.
Jennifer L. Heller, President and Chief Investment Officer of Brandywine Group Advisors, a longtime limited partner of InTandem Capital, endorsed the initiative, saying it would support the long-term success of portfolio companies and the sustainability of investment performance. Cooperstone acknowledged that the program will initially reach only a fraction of eligible workers.
InTandem has committed to the program for applicable existing investments and all new investments from its managed funds. Plan documents designed with Goodwin Procter LLP are being made available to other private equity and alternative investment firms willing to participate, and Goodwin will administer the program at no cost. The only requirement to join is a commitment to share investment gains in some measure with all employees who helped create success. Further details are available at pe4gg.org.
InTandem Capital said the program is grounded in the view that success should be shared with all contributors in proportion to tenure, citing growing income and wealth inequality. The firm argues that employee participation also benefits shareholders through improved engagement, retention, alignment and productivity. Managing Partner Elliot Cooperstone said that by sharing investment gains, the firm is supporting team members while enhancing motivation and retention across all levels. The release notes that the program was inspired by earlier efforts of Bob Patricelli, an InTandem Strategic Advisor and healthcare industry veteran, who worked with Congressman John Larson (D-CT), with Tom Suozzi (D-NY) and Bill Pascrell (D-NJ) as co-sponsors, on 2021 legislation aimed at incentivizing broader equity ownership.
Jennifer L. Heller, President and Chief Investment Officer of Brandywine Group Advisors, a longtime limited partner of InTandem Capital, endorsed the initiative, saying it would support the long-term success of portfolio companies and the sustainability of investment performance. Cooperstone acknowledged that the program will initially reach only a fraction of eligible workers.
InTandem has committed to the program for applicable existing investments and all new investments from its managed funds. Plan documents designed with Goodwin Procter LLP are being made available to other private equity and alternative investment firms willing to participate, and Goodwin will administer the program at no cost. The only requirement to join is a commitment to share investment gains in some measure with all employees who helped create success. Further details are available at pe4gg.org.
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