West Ham shareholder Tripp Smith could bolster his net worth if Private equity company General Atlantic floats on the New York stock market.
In April this year General Atlantic completed its acquisition of Iron Park Capital Partners, LP (“Iron Park”) founded by Tripp Smith in 2019 making him Managing director GA Credit.
Tripp originally co-founded GSO Capital Partners (“GSO”) in 2005 and grew its AUM to more than $127 billion in 2018, before Tripp launched Iron Park in 2019.
The Blackstone Group acquired GSO for approximately $1 billion in 2008 with Tripp and his co-founders receiving multi million pay outs in cash and stocks.
The Blackstone credit arm now manages US$264 billion of assets with Smith leaving the credit firm in 2018.
By comparison General Atlantic manages around $86 billion of assets but is quickly growing in the Private equity market.
Reports suggest that General Atlantic is now considering a Initial Public Offering (IPO) to float the private company on the stock exchange.
Smith shuns publicity but makes frequent trips to watch West Ham where he has a 8% shareholding worth around £64m, last year he was paid back his £9.5m interest free loan when Daniel Kretinksy invested in the club.
Although his net wealth is not listed by Forbes, reports state side suggest it is worth around $1.25 billion which is around £980 million.
Should General Atlantic be floated his net wealth could considerably increase further possibly over taking David Sullivan at £1.18 billion