News: EY to invest US$1b to expand private equity offering and appoints Bridget Walsh as EY Global Private Equity Leader
Press Release - EY today announces an investment of around US$1b phased over four years to expand PE business capabilities and appoints Bridget Walsh as new EY Global Private Equity Leader, effective 1 July 2022, to lead and deliver this initiative.
- The EY organization sees an attractive opportunity to grow private equity (PE) offering
- New investment will focus on building capabilities within value creation / portfolio transformation, transaction deal leadership services and more
- Bridget Walsh appointed EY Global Leader to spearhead growth initiative, drawing on over two decades of PE experience at EY
The PE sector today plays an increasingly active role in the global economy. PE firms currently manage more than US$5t in capital and own more than 20,000 businesses across the globe that are estimated to employ approximately 25m people. Most importantly, that footprint continues to grow - last year, PE deal activity exceeded US$1t for the first time ever, and AUM are expected to rise at a rate of roughly 15% over the next several years, as existing investors increase their allocations to PE, and new investors like family offices, high net worth individuals, and others invest in the asset class.
As a multi-award-winning service provider to this growing market, EY is a leading advisor to the PE industry with an established global platform providing comprehensive, commercial advice across Strategy and Transactions, Consulting, Assurance and Tax. The US$1b investment bolsters the leading market position with a focus on growing existing transaction capabilities and expansion in the areas of value creation and portfolio transformation; deal leadership; and environment, social and governance (ESG) services. This goal will be supported by strategic acquisitions and by making key talent hires.
To build on this investment, Bridget Walsh has been appointed as the EY Global Private Equity Leader.
Andy Baldwin, EY Global Managing Partner - Client Service, says:
"PE services are a key strategic priority for the EY organization, and this investment will help to enhance client services through recruitment and training of high-quality talent. Bridget is highly respected, both internally and in the wider global PE community, and I am thrilled that she will be leading this initiative. She has a strong track record working with some of the largest PE clients on significant global deals and brings exceptional operational knowledge and experience in leading and managing industry teams across the globe."
Bridget currently serves as EY EMEIA Managing Partner - Tax, a US$5b business which has achieved annual double-digit growth under Bridget's leadership. She has been a trusted advisor to the Global PE industry for over 20 years, and as a recognized leader within the EY organization, has successfully incubated and grown several businesses within EY. She has an active role in governing multiple businesses and sits on a number of EY Global boards, including the Global Tax Executive Board and the EY Global Practice Group. Bridget also represents EY on the board of British American Business and is a board member of The Ireland Funds Great Britain board.
Bridget Walsh, EY EMEIA Area Managing Partner - Tax, says:
"I am delighted to take on this role at such a pivotal time, not only for the EY business, but the Private Equity industry overall. It has been a privilege advising the world's leading PE firms on some of the most innovative and creative deals across sectors around the globe, and I look forward to spearheading growth across EY in this next phase of PE industry evolution. EY is exceptionally well positioned to deploy this significant new investment as the business continues to grow and further capitalize on an existing market leading global platform."
Bridget succeeds Bill Stoffel, who sadly passed away in December 2021. Bill spent over three decades at EY and played an instrumental role in building and leading PE services across the organization to where they are today.