David Tayeh is head of private equity – North America. He is a member of the Firm’s Operating Committee and serves on its Investment Committee and the Financial and Risk Management Committee. David rejoined Investcorp in 2015, having left the firm in 2011 to join CVC Capital Partners as a partner. From 1999 to 2011, David was a member of Investcorp’s private equity team and acted as Senior Vice President and Chief Financial Officer of Jostens, Inc., a former Investcorp portfolio company. Prior to Investcorp, David was a vice president with Donaldson, Lufkin & Jenrette.
The story from 2020 required resilience amidst unprecedented disruption from the pandemic, including the steepest recession since the Great Depression. In the spring, GPs primarily focused on managing existing portfolios through the immediate shock and the industry has successfully adapted to operating in this new environment. Since then, we've seen a resurgence in sentiment and deal making. The rapid and aggressive actions from central banks have supported the markets but have also boosted valuations, even relative to pre-pandemic multiples that were already at historic highs. The key question and challenge for 2021 will be how GPs position themselves and their portfolio companies to win in what may continue to be a volatile and unpredictable market.5 April 2021
Private equity will play an essential role in the recovery. I believe that our industry has an outsized ability to positively impact multiple aspects of the economy from the portfolio companies we invest in, to the value we generate for our limited partners, whose beneficiaries include pension plans and university endowments, among other institutional investors and family offices. The investment solutions that private equity offers are more critical today than ever before as low interest rates have made it very challenging for investors to meet their return objectives through traditional asset classes alone.5 April 2021