REPRINTED WITH PERMISSION
September 9, 2024
Raquel Vargas Palmer
Managing Partner
KPS Capital Partners
Shortly after Raquel Vargas Palmer graduated from Stanford University in 1994, she moved to New York City and took a job at Kidder Peabody, a Wall Street investment bank. Three months later, the bank was sold and she and many of her fellow new hires were laid off.
At the time, the news was upsetting, but now, Palmer, managing partner at private equity firm KPS Capital Partners, has a different perspective.
“Being laid off on Wall Street three months in turned out to be the best thing that ever happened to me,” she said. The reason? It led her to interview with Michael Psaros and David Shapiro, KPS’ co-founders, and the three of them — now the firm’s three managing partners — have been working closely ever since.
These days, Palmer co-leads KPS’ dealmaking activity, serves as chair of the firm’s investment committee and is a member of its management committee.
During her leadership, KPS’ AUM has grown to $21.6 billion, and last year the firm closed two funds with an aggregate of $9.7 billion in capital commitments.
Palmer also serves as chair of the board of directors for The Opportunity Network, an organization that supports more than 10,000 underrepresented students in their journeys through college and beyond with paid internships and a variety of networking opportunities.
As the first person in her family to attend college, Palmer said The Opportunity Network’s mission is near and dear to her, but the mission even goes beyond higher learning.
“The ultimate goal is not to get kids into college, the goal is to help them find happiness through a fulfilling career,” she said. “It takes a lot of my time, but I'm happy to give it because it's pretty rewarding.”
— Brian Croce
.Reprinted with permission from Pensions & Investments. © 2024 Crain Communications Inc. All rights reserved.
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