# Percheron Capital

Percheron Capital is a Private Equity based in San Francisco, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** San Francisco, United States
- **Region:** North America
- **Address:** San Francisco, CA, United States
- **Founded:** 2020
- **Assets under management:** Undisclosed
- **Website:** percheron.com
- **LinkedIn:** https://www.linkedin.com/company/percheroncapital

## Regulatory record

- **CRD number:** 312004
- **SEC file number:** 801-120395
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/312004

## About

Percheron Capital is an SEC-registered investment adviser in San Francisco, CA, registered since 2021. The firm manages approximately $5.1 billion in regulatory assets. It has 76 employees and 63 investment advisers.

## Sectors

- Real Estate
- Infrastructure
- Industrial Tech

## People

- Manish Goyal — Managing Director, Head of Portfolio Support Group
- Katrina Liddell — Commercial HVAC Service Platform Lead

## Questions

### What exactly does Percheron Capital define as 'essential services'?

Percheron targets businesses that America depends on for basic daily functions. This includes fire and life safety, commercial HVAC service, tire and auto service, foundation solutions, and veterinary care. The firm publicly states it avoids non-essential consumer or technology sectors, focusing only on industries where demand does not vanish in a downturn.

### How does Percheron Capital actually use AI in its portfolio?

The firm built a dedicated in-house applied AI team called Percheron AI Ops. Instead of buying generic software for its companies, this team works directly on the ground with frontline service providers to build custom systems for scheduling, routing, and customer management. The goal is to use proprietary technology as a real operating lever inside low-tech service businesses.

### Is Percheron Capital a single-sector fund, or does it consider other industries?

Percheron is a single-sector essential-services firm by design. The firm states it is the largest essential-services-focused private equity firm globally and does not invest in essential services as a sideline within a multi-sector strategy. All of its capital and dedicated operating resources go into scaling service businesses in this category.

### What is the relationship between Percheron Capital and its platform companies like Big Brand Tire?

Percheron takes a control-oriented approach, building platforms through foundational acquisitions and then aggressively scaling them through add-on M&A. For example, after a large $1.625 billion recapitalization of Big Brand Tire, the platform immediately expanded into the Mountain West by acquiring a regional chain, Burt Brothers.

## Related profiles

- [Perceva](https://altss.com/profile/perceva)
- [Percipient Capital](https://altss.com/profile/percipient-capital)

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Last updated: 2026-06-03T20:00:00.000Z

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