LongRange Capital

Travis Pearson, the firm's founder and Managing Partner, leads investment decisions. He built the team after spending 14 years at Bain Capital, where he co-headed North America Private Equity. Investment committee composition is not publicly detailed, though Pearson's Bain-trained team anchors the process.

The firm operates with an indefinite holding period, meaning it can own a business for 10 to 15 years or more without a forced sale dictated by fund life. This enables earnouts and operational turnarounds that traditional five-to-seven-year PE holds cannot accommodate. The structure was a central pitch to CalPERS when it committed $600 million as an anchor investor (per public pension board minutes, 2019).

LongRange is a registered private equity firm managing institutional capital, not a family office. It pools commitments from public pension funds, endowments, and other institutional limited partners. The indefinite-duration structure, however, borrows elements of permanent-capital family-office investing.

The firm makes direct control equity investments in operating companies. There is no indication it allocates capital to external fund commitments or fund-of-fund structures. The strategy is concentrated on principal buyout transactions.

LongRange relies on relationships across the Bain Capital network and corporate carve-out dialogues. Pearson's track record in industrial services and business services buyouts creates a funnel of opportunities where selling parents — often multinationals divesting non-core units — value certainty of close and absence of exit-timing pressure.

The firm targets mature, cash-flow-positive companies in the middle market, typically with $10 million to $100 million in EBITDA. It does not invest in venture-stage, pre-revenue, or early growth companies. Deals usually involve corporate divestitures, founder recapitalizations, or ownership restructurings.

Third-party institutional commitments. The largest known anchor is CalPERS, with $600 million allocated to LongRange Capital Partners I. New York State Common Retirement Fund and Los Angeles County Employees Retirement Association have also disclosed commitments (per public pension disclosures, 2019-2024).