FTV Capital’s Blueprint: How Discipline Forged a Top-3 Growth Equity Rank

NEW YORK & SAN FRANCISCO – July 13, 2026 – In the world of growth equity, where billions chase the next market leader, consistent, top-tier performance is the ultimate measure of success. This year, FTV Capital, a firm with a 28-year history of sector-focused investing, has provided a masterclass in exactly that, securing the #3 spot in the prestigious 2025 HEC Paris-Dow Jones Growth Capital Performance Ranking. For a firm that has consistently placed in the top 20 since the ranking's 2022 inception, this leap into the top three is more than just a new accolade; it’s a powerful validation of a meticulously crafted and rigorously executed strategy.

The Patterson Analysis has long argued that enduring value is built on execution, not hype. FTV’s achievement offers a compelling case study in how a disciplined, repeatable model can deliver outsized returns in one of the market's most competitive arenas.

The Anatomy of a Top Performer

To appreciate the significance of this ranking, one must first understand its rigor. The HEC Paris-Dow Jones report is not a subjective list. It is a data-driven analysis of global private equity performance, with the growth capital category evaluating 183 firms and the performance of 440 funds raised between 2012 and 2021. This decade-long view, encompassing approximately $351 billion in equity, smooths out single-year anomalies and identifies firms that generate strong performance for their investors over time, assessing both absolute and relative returns.

Climbing to the top of such a list requires more than a few successful exits. It demands a level of consistency across multiple funds and vintage years that separates the truly elite from the rest of the pack. FTV’s ascent into the top three, up from a top-20 position in the 2024 ranking, signals strong momentum and an ability to navigate changing market cycles effectively.

The FTV Playbook: A Differentiated Model

So, what is the engine driving this performance? While many firms claim a unique approach, FTV's model is built on several interconnected pillars that create a powerful, self-reinforcing system.

First is a deep sector specialization. The firm doesn't chase every hot trend; it maintains a laser focus on financial technology and services, vertical software, enterprise technology and services, and healthcare technology and services. This depth allows its teams to move beyond surface-level analysis, understand nuanced market shifts, and build conviction through a thematic sourcing approach that proactively identifies future leaders.

This proactive stance is supercharged by the firm's signature Global Partner Network® (GPN). This is not a passive advisory board. The GPN is a strategic asset of over 600 senior executives from the world’s leading enterprises. It functions as a real-time market intelligence engine, providing invaluable feedback on emerging trends, validating investment theses, and, crucially, making commercial introductions for portfolio companies. The recent appointment of Scott Levine as Managing Director to oversee the GPN underscores the firm's commitment to deepening this competitive advantage.

Capital alone is rarely enough to scale a business into a market leader. This is where FTV Propel®, the firm’s in-house team of operational leaders, comes into play. By providing hands-on counsel in critical areas like sales, marketing, technology, and talent, FTV moves beyond the traditional investor role to become a true operational partner. This approach resonates with founders, as evidenced by FTV’s fifth consecutive year on Inc.’s Founder-Friendly Investors list—a testament to a reputation built on partnership, not just financial engineering.

Execution in Action: From Investment to Exit

Strategy is meaningless without results, and FTV’s recent activity demonstrates the playbook in action. Since the beginning of 2025, the firm has generated $1.1 billion in liquidity from notable exits and partial exits like A-LIGN, Enfusion, and ReliaQuest, crystallizing returns for its investors. The recent exit from Neptune Insurance Holdings in May 2026 adds another successful outcome to its track record.

On the investment side, the firm continues to deploy capital with precision. Its $70 million investment in Saphyre in 2025 targets the acceleration of trading and finance workflows, while a growth investment in spend management software N2F aims to deepen AI capabilities and fuel international expansion. These are not speculative bets; they are targeted investments in companies with proven models, typically with $10 million to $100 million in revenue and a clear path to continued high growth.

“This recognition reflects the consistency of FTV’s strategy, the discipline of our sector-focused investment approach and the strength of the partnerships we have built with exceptional founders and management teams,” said Brad Bernstein, managing partner at FTV Capital. His statement cuts to the core of the firm's ethos: success is not a singular event but the outcome of a consistent, disciplined process.

Navigating a Shifting Growth Equity Landscape

FTV’s success comes at a time when growth equity is increasingly recognized as a distinct and attractive asset class. Independent analysis from firms like Cambridge Associates highlights that true growth equity offers a compelling risk/return profile—VC-like returns with buyout-like loss ratios—but cautions that the label is often misapplied. FTV exemplifies the strategy in its purest form: investing in high-growth, capital-efficient businesses with minimal leverage.

Market data underscores the opportunity. In the first half of 2025, growth equity funds outperformed their buyout counterparts. Furthermore, as Bernstein himself has noted, the structural trend of high-growth companies staying private for longer increases the value of a partner who can provide both capital and strategic guidance to scale. In this environment, the ability to help a company navigate the path from $20 million to $200 million in revenue is paramount.

In an industry often swayed by fleeting trends and macroeconomic headwinds, FTV Capital’s ascent demonstrates the enduring power of a well-executed plan. Its #3 global ranking is not just a snapshot in time but a reflection of a system built for repeatable success, offering a clear blueprint for how to build value through discipline, expertise, and genuine partnership.