Overview
Brent Beshore is an American private equity investor and entrepreneur who founded Permanent Equity in 2007, a Columbia, Missouri-based firm that invests in family-held companies with no intention of selling.[6] The firm manages $298 million across two funds with 30-year commitment periods, targeting lower middle market companies generating $2-25 million in cash flow.[8]
Beshore's approach to private equity diverges from traditional models by using minimal debt and focusing on long-term ownership rather than exit strategies.[1] Permanent Equity's portfolio includes 16 companies generating over $350 million in annual revenue and employing more than 700 people.[8] The firm was recognized by BluWave as a Top Private Equity Innovator in 2024, ranking among the top 2% of PE firms for innovation.[12]
Based in Columbia, Missouri, Beshore has become known for his unconventional investment philosophy and transparent communication style.[12] He frequently speaks at industry conferences and has been featured in academic programs at institutions including Notre Dame and the CFA Institute.[5][1]
Early life and education
Beshore graduated from Washington and Lee University in 2005 with a Bachelor of Arts in Politics with an emphasis in Poverty Studies.[4] He subsequently enrolled in a joint JD/MBA program at the University of Missouri but dropped out in 2007 to pursue entrepreneurship.[8]
During his time at Washington and Lee, Beshore developed an interest in addressing economic inequality and business ethics, themes that would later influence his investment philosophy.[4] The university recognized him with a Distinguished Young Alumni Award in 2015 for his entrepreneurial accomplishments and continued support of the institution.[4]
Career
Early ventures (2007)
After leaving law school in 2007, Beshore launched his first entrepreneurial venture, a branding events company, which he sold to an employee within the same year.[8] He immediately started a second venture, an advertising agency, also in 2007.[8]
Permanent Equity (2007–present)
In 2007, Beshore founded what would become Permanent Equity, initially operating under the name adventur.es.[6] The firm was conceived as an alternative to traditional private equity models, focusing on permanent ownership rather than exit strategies.[1]
Permanent Equity raised its first fund of $50 million in 2017 with a 30-year commitment period, followed by a second fund of $248 million in 2019 with a 27-year commitment period.[8] The firm's investment strategy targets family-held businesses in unsexy industries, often in the Midwest, with the philosophy that boring businesses face less competition.[8]
Under Beshore's leadership, the firm has developed an unconventional fee structure, charging management fees only on invested capital rather than committed capital.[8] The firm operates with a team of 21 employees from its Columbia, Missouri headquarters.[6]
Recognition and public engagement
Beshore received the American Express Open Forum 10 under 30 Award in 2012 for young entrepreneurship.[12] Washington and Lee University honored him with a Distinguished Young Alumni Award in 2015, recognizing his entrepreneurial accomplishments and ongoing support of the institution.[4]
In 2024, BluWave named Beshore among its Top Private Equity Innovators, ranking Permanent Equity among the top 2% of PE firms for innovation.[12] He has been a featured speaker at the Jackson Hole Alternative Investment Conference and has presented at academic institutions including Notre Dame's Institute for Global Investing.[3][5]
Beshore has appeared on podcasts including The Knowledge Project and has been profiled in industry publications for his unconventional approach to private equity.[2] He maintains an active presence in the Faith Driven Investor community, speaking about the intersection of faith and business.[9]
Public statements
Unless they can buy beer with it, we don't charge fees on it
On fee structure philosophy — Colin Keeley, 2024[8]
Small businesses don't generally stay small on purpose. There is often some lids on the business that they try to remove over time
On small business growth potential — Colin Keeley, 2024[8]
How to run a business with love yet competitively
On business philosophy — The Knowledge Project, 2024[2]
Personal
Beshore is married to Dr. Erica Beshore, a molecular microbiologist working on cancer research, and they have four children.[2] The family lives on a farm in Columbia, Missouri, where Beshore is considered an informal community leader.[12]
He serves on the board of Love Columbia, a Missouri-based non-profit organization.[9] Beshore is active in his local church and has spoken publicly about his faith journey, including a period as an atheist before becoming a Christian.[9] He enjoys competitive tennis and golf in his personal time.[2]
References
- Private Equity, Venture Capital, and the Future of Money Management, with Brent Beshore — CFA Institute, January 2017
- Brent Beshore: Business Brilliance and Happiness at Home — Farnam Street, January 2024
- Jackson Hole Alternative Investment Conference to Benefit the Grand Teton National Park Foundation — Business Wire, January 2020
- W&L Honors Distinguished Young Alumni — Washington and Lee University, January 2015
- Brent Beshore's Private Equity Strategy Makes an Impact on Students — Notre Dame Institute for Global Investing, January 2024
- Team — Permanent Equity — Permanent Equity, January 2024
- Talking Private Equity with Permanent Equity CEO Brent Beshore — Stokes Family Office, January 2024
- Brent Beshore & Permanent Equity Operating Manual — Colin Keeley, January 2024
- Brent Beshore — Faith Driven Investor, January 2024
- Brent Beshore - Founder And CEO at Permanent Equity — The Org, January 2024
- Permanent Equity by Brent Beshore — First MRR, January 2024
- Brent Beshore: The 'Forrest Gump of Private Equity' — Mineola Search Partners, November 2022