HCI Equity Partners (formerly Thayer Capital Partners and Thayer Hidden Creek) is a Washington, DC-based private equity firm with offices in Minneapolis, MN and Chicago, IL as well. History Thayer Capital Partners The founding date of Thayer Capital Partners has been variously listed as 1991 (PE HUB), 1993 (Washington Post), and 1994 (company website) but sources are consistent that it was founded in Washington, DC. From its founding up to 2004 Thayer invested in over 30 portfolio companies with total revenue in excess of $3 billion. The company was named after Sylvanus Thayer, an early superintendent of the United States Military Academy who is widely considered to be the “Father of West Point.” Thayer's founder, businessman and politician Fred Malek, is a graduate of USMA. After a number of legal and financial incidents in 1999 and 2000 a large number of managing partners left the firm. In 2004 Malek changed his title to "chairman and founder" from "managing partner,” Malek said of the change "I don't intend to just pursue a hobby as a baseball owner. I intend to be chairman and partner of Thayer for the rest of my life.” Thayer Capital Partners was known for using its close political connections to engage in “access capitalism.” Thayer | Hidden Creek Founded in 1989 Hidden Creek Partners was an industrial management company specializing in the automotive sector based in Minneapolis, Minnesota. In 2003 Hidden Creek co-founder Scott Rued joined Thayer as a Managing Partner. In 2004 Hidden Creek became intimately involved in Thayer's operations. Hidden Creek was acquired by Thayer Capital Partners in 2005. As part of the deal the firm changed its name to Thayer | Hidden Creek and Hidden Creek Partners co-founder, president and CEO, Scott Rued became a managing partner. HCI Equity Partners In 2011 the "Managing Partners and investment team” of Thayer Hidden Creek formed HCI Equity Partners "to assume the management of the funds and operations of Thayer | Hidden Creek Partners.” Current operations In 2017 HCI Equity Partners closed a new $400M fund, Fund V. The fund has an activation date of January 2018. In December 2018 HCI Equity Partners V acquired the Liverpool, NY based hose assembly firm JGB Enterprises which specializes in supporting the fracking industry. In 2018 it was reported that HCI’s portfolio was 60% Industrial and 40% Transportation & Logistics. Major positions JGB Enterprises (Liverpool, NY) Roadrunner Transportation Systems, Inc.