Glenn Hutchins
{{short description|American businessman and investor (born 1955)}}
{{Use mdy dates|date=October 2023}}
{{Infobox person
| name = Glenn Hutchins
| image = Glenn H. Hutchins (born 1955) at World Economic Forum Davos 2021.png
| alt =
| caption = Speaking at the 2021 World Economic Forum
| birth_name =
| birth_date = {{birth year and age|1955}}
| birth_place =
| death_date =
| death_place =
| nationality = American
| other_names =
| known_for = Co-founder of Silver Lake Partners
| alma_mater = {{ indented plainlist |
}}
| occupation = Chairman, North Island{{cite web|title =Tech investing pioneer Hutchins bets on blockchain|publisher =Reuters|date =November 7, 2019|url =https://www.reuters.com/article/us-investment-summit-hutchins/tech-investing-pioneer-hutchins-bets-on-blockchain-idUSKBN1XH23I|access-date =June 1, 2021|archive-date =June 2, 2021|archive-url =https://web.archive.org/web/20210602215421/https://www.reuters.com/article/us-investment-summit-hutchins/tech-investing-pioneer-hutchins-bets-on-blockchain-idUSKBN1XH23I|url-status =live}}
| networth =
}}
Glenn Hogan Hutchins{{cite web |title=2023 Annual report |url=https://vpr.hkma.gov.hk/statics/assets/doc/100289/ar_23/ar_23_pt02_eng.pdf |website=Santander |access-date=July 5, 2024 |page=201}} (born 1955) is an American businessman and investor. He is a private equity investor focused on the technology sector, chairman and co-founder of North Island, and co-founder of Silver Lake Partners.[https://www.wsj.com/articles/BL-DLB-34836 Meet Silver Lake: The Hot Private Equity Firm of the Moment ] {{Webarchive|url=https://web.archive.org/web/20220909164625/https://www.wsj.com/articles/BL-DLB-34836 |date=September 9, 2022 }}. The Wall Street Journal, Gregory Zuckerman, Sept 22, 2011
Early life and education
Hutchins was born in Virginia in 1955.
After studying at The Lawrenceville School in New Jersey and graduating in 1973,{{Cite web|url=http://www.lawrenceville.org/about/history/notable-alumni/index.aspx|title=Leadership - the Lawrenceville School|access-date=January 18, 2014|archive-date=November 9, 2016|archive-url=https://web.archive.org/web/20161109003646/http://www.lawrenceville.org/about/history/notable-alumni/index.aspx|url-status=dead}} Hutchins earned a BA from Harvard College in 1977.{{cite web |title=Kick-Starting Harvard House Renewal |url=https://www.harvardmagazine.com/2012/10/harvard-30-million-glenn-hutchins-gift |website=Harvard Magazine |access-date=July 4, 2024 |date=October 24, 2012}} In 1983, he finished a joint JD/MBA program from Harvard Business School and Harvard Law School, which he completed simultaneously.
Career
Hutchins began his career as a credit analyst at Chemical Bank after earning his BA from Harvard in 1977.{{cite news |last1=Serwer |first1=Andy |title=Glenn Hutchins: How an 'awful' job can actually pay off |url=https://finance.yahoo.com/news/glenn-hutchins-awful-job-can-actually-pay-off-152850378.html |access-date=July 4, 2024 |work=Yahoo! Finance |date=May 23, 2017}}
Following his graduation from Harvard Business School and Harvard Law School in 1983, he began his career in private equity at Thomas H. Lee Partners.{{cite web |title=How can private equity transform into positive equity? |url=https://assets.ey.com/content/dam/ey-sites/ey-com/en_gl/topics/growth/ey-how-can-private-equity-transform-into-positive-equity.pdf |website=Ernst & Young |date=2017 |access-date=July 4, 2024 |page=26}}
Hutchins left the firm in 1992 to join the Bill Clinton presidential transition team as a senior adviser focusing on economic policy. After serving as a special advisor on economic and healthcare policy in the Clinton Administration,{{cite web |title=Glenn H. Hutchins |url=https://en.wikipedia.org/wiki/Hamilton_Project |website=Hamilton Project |access-date=July 4, 2024}} Hutchins returned to private equity, this time joining The Blackstone Group in New York[https://web.archive.org/web/20060427012021/http://www.businessweek.com/magazine/content/05_32/b3946091_mz020.htm "Wall Street's New Alchemist"]. BusinessWeek, August 8, 2005 in 1994, where he was a senior managing director.{{cite web |title=Schedule 14A |url=https://ir.virtu.com/node/7996/html |website=United States Securities and Exchange Commission |publisher=Virtu Financial |access-date=July 4, 2024 |pages=7–8 |date=April 25, 2019}}
Hutchins co-founded Silver Lake Partners in 1999 alongside Roger McNamee and David Roux. He left the firm in 2012.{{cite news |title = Hutchins Says Crypto Success Hinges on Consumer Use Cases |newspaper = Bloomberg.com |publisher = Bloomberg L.P. |date = February 21, 2021 |url = https://www.bloomberg.com/news/articles/2021-02-25/hutchins-says-consumers-must-see-use-cases-to-embrace-crypto?sref=fBWIv79e |access-date = June 1, 2021 |archive-date = June 2, 2021 |archive-url = https://web.archive.org/web/20210602230011/https://www.bloomberg.com/news/articles/2021-02-25/hutchins-says-consumers-must-see-use-cases-to-embrace-crypto?sref=fBWIv79e |url-status = live }}
Hutchins was a director of the Federal Reserve Bank of New York, and chairman of its of Audit and Risk Committee, from 2011 through 2020.
Hutchins is chairman of North Island, an investment firm focused on private equity investments, which he co-founded in 2020 with James Hutchins and Travis Scher.{{cite web |title=North Island Ventures Closes Second Venture Fund |url=https://www.businesswire.com/news/home/20220913006085/en/North-Island-Ventures-Closes-Second-Venture-Fund |website=Business Wire |access-date=July 6, 2024 |date=September 13, 2022}}
Other affiliations
Hutchins is co-chairman of the board of trustees of the Brookings Institution.{{cite web |title=Glenn Hutchins |url=https://www.brookings.edu/people/glenn-hutchins/ |website=Brookings Institution |access-date=July 7, 2024}}[https://archive.today/20140821064241/http://www.forbes.com/profile/glenn-hutchins/ Forbes.com] In 2013 he also created the Hutchins Center on Fiscal and Monetary Policy at Brookings Institution with a $10 million endowment grant.{{cite web |last1=Dews |first1=Fred |title=Brookings Establishes Hutchins Center on Fiscal and Monetary Policy; David Wessel to Direct |url=https://www.brookings.edu/articles/brookings-establishes-hutchins-center-on-fiscal-and-monetary-policy-david-wessel-to-direct/ |website=Brookings Institution |access-date=July 7, 2024 |date=December 4, 2013}}
He is a member of the Council on Foreign Relations.{{cite web |title=Membership Roster |url=https://www.cfr.org/membership/roster |website=Council on Foreign Relations}}
Hutchins is on the boards of directors of AT&T{{cite web |title=Board of Directors |url=https://investors.att.com/corporate-governance/board-of-directors |website=AT&T |access-date=July 8, 2024}} and Banco Santander.{{cite web |title=Board of directors |url=https://www.santander.com/en/shareholders-and-investors/corporate-governance/board-of-directors |website=Banco Santander |access-date=July 8, 2024}}
At GIC Private Limited, the sovereign wealth fund of Singapore, he is on the Investment Board{{cite web |title=Investment Board |url=https://www.gic.com.sg/who-we-are/investment-board/ |website=GIC Private Limited |access-date=July 8, 2024}} and the International Advisory Board.{{cite web |title=International Advisory Board |url=https://www.gic.com.sg/who-we-are/international-advisory-board/ |website=GIC Private Limited |access-date=July 8, 2024}}
Hutchins is a former chairman of Instinet, a former chairnman of SunGard Data Systems, a former director of Nasdaq,{{cite web |title=Obama Foundation Announces New Additions to Board of Directors |url=https://static1.squarespace.com/static/53c5a5d7e4b0df2e956a079b/t/5ea8573fe813fd689aa3d9a2/1588090687833/Obama+Foundation+110317.pdf |website=squarespace.com |publisher=Obama Foundation |access-date=July 7, 2024 |date=November 3, 2017}} and a former director of the Center for American Progress.{{Cite web|title=Board of Directors|url=https://www.americanprogress.org/c3-board/|access-date=2020-11-30|website=Center for American Progress|language=en-US|archive-date=June 10, 2020|archive-url=https://web.archive.org/web/20200610222242/https://www.americanprogress.org/c3-board/|url-status=live}} He has also previously served on the boards of TD Ameritrade, Seagate Technology, MCI, Inc., Gartner, and Sabre Holdings.{{cite web |title=Charlie Rose Interviews Glenn Hutchins, Co-Founder and Co-CEO of Silver Lake, as TabbFORUM Launches New Series, 'Conversations with Charlie Rose: The New Capitalists Shaping Our World' |url=https://www.businesswire.com/news/home/20110622005611/en/Charlie-Rose-Interviews-Glenn-Hutchins-Co-Founder-and-Co-CEO-of-Silver-Lake-as-TabbFORUM-Launches-New-Series-%E2%80%9CConversations-with-Charlie-Rose-The-New-Capitalists-Shaping-Our-World%E2%80%9D |website=Business Wire |access-date=July 7, 2024 |date=June 22, 2011}}
The W. E. B. Du Bois Research Institute, established in 1975, was expanded and renamed the Hutchins Center for African and African American Research in 2013 after a $15 million gift from Hutchins via his Hutchins Family Foundation.{{cite web | last=Rocheleau | first=Matt | title=Harvard announces launch of Hutchins Center for African and African American Research through $15m gift | website=Boston.com | date=18 September 2013 | url=http://archive.boston.com/yourcampus/news/harvard/2013/09/harvard_announces_launch_of_hutchins_center_for_african_and_african_american_research_through_15m_gi.html | access-date=11 December 2020}}
He is a partial owner of the Boston Celtics.{{cite web|url=http://www.nba.com/celtics/news/Partners_123102.html |title=Boston Basketball Partners Assume Ownership of Celtics Franchise | Celtics.com - the official website of the Boston Celtics |website=NBA.com |access-date=October 1, 2015 |url-status=dead |archive-url=https://web.archive.org/web/20110628184526/http://www.nba.com/celtics/news/Partners_123102.html |archive-date=June 28, 2011 }}
References
{{Reflist}}
External links
- {{C-SPAN}}
{{AT&T}}
{{Authority control}}
{{DEFAULTSORT:Hutchins, Glenn}}
Category:Boston Celtics owners
Category:Clinton administration personnel
Category:Directors of Harvard Management Company
Category:Federal Reserve Bank people
Category:Harvard Business School alumni
Category:Harvard Law School alumni
Category:Private equity and venture capital investors
Category:Silver Lake (investment firm) people
Category:Lawrenceville School alumni
Category:Brookings Institution people