Exchange Street Capital

Patrick J. Healy, the founder and managing partner, makes all investment decisions personally. He spent 18 years at Hellman & Friedman, rising to Managing Director, before leaving to manage his own capital. Exchange Street Capital has no investment committee beyond Healy, ensuring a single-decision-maker structure that allows rapid execution on off-market opportunities.

The firm relies primarily on a network of former Hellman & Friedman colleagues, operating executives, and industry-specific intermediaries cultivated over two decades. Exchange Street explicitly avoids broad auction processes and rarely competes with traditional private equity funds on banker-led deals. This approach yields opportunities in tech-enabled business services, insurance distribution, and compliance software that never reach a wide market.

The firm targets lower-middle-market companies with EBITDA between $5 million and $30 million — a range where founder-owners often need growth capital or a partial liquidity event but want an operating partner rather than a short-term financial sponsor. Exchange Street provides both growth equity and buyout capital, with no mandate to exit on a predetermined timeline.

The firm does not invest in capital-intensive industries like heavy manufacturing, commodities, or real estate development. Its focus stays strictly within operating businesses that generate recurring revenue — tech-enabled business services, financial services, software, healthcare services, and select consumer franchises. The firm has shown no interest in early-stage technology or pre-revenue venture.