Peterson Partners
At a Glance
If you are raising a traditional search, a two-decade backer whose founder helped write the model's early chapters belongs on the outreach list; arrive fluent in the standard economics.
- Pricing
- Custom Pricing, Investment terms, not fees: standard traditional search-fund economics (search capital, step-up, acquisition equity, searcher vesting), negotiated per the model's conventions; the Stanford primer in this directory explains the structure.
- Best For
- Traditional searchers who want a long-tenured, multi-strategy backer whose founder helped shape the search-fund model
- Track Record
- A two-decade search practice across more than 300 companies by its own count.
- Lane
- Traditional
- Funds
- The search phase and the deal
- Based
- Salt Lake City.
- Invests
- No investing scope on the pages this review read, so ask whether it will look at a search where you are.
- Buys
- Business services, software and internet, and healthcare companies, through growth, co-investment and buyout structures. The published $500K to $5M is its own check rather than the company's size.
- Before A First Call
- A two-decade record across more than 300 companies and a team page of biographies, with a contact page and an investor login. Nothing on the searcher's side of the first conversation.
- First-Time Operators
- A statement that people are the key differentiator and that entrepreneurial leaders differ from other leaders, with team biographies under it. A philosophy about character rather than a bar on history.
- How Long The Search Runs
- No length on the search and nothing about what happens if it ends without a deal, on the pages this review read. Ask what the clock is before you sign anything.
- Published Terms
- Average investment of $500K to $5M, participating usually 5 to 10 years.
- What A Searcher Gets
- Not published on the pages this review read. It is the figure a searcher most wants and most of this shelf does not print it, so ask before the first call rather than after.
- Roadmap Stages
- 1. Learn & Choose Your Path3. Set Up & Fund the Search
Pros and Cons
Pros
- A dedicated search-fund practice with more than twenty years behind it
- Founder Joel Peterson's Asurion role ties the firm to the model's origins
- A partnership approach and long five-to-ten-year holds, not a quick flip
Cons
- Search funds are one of several strategies (growth, buyout, venture, real estate), not the sole focus
- Terms and process are not published, the category norm
- Selective, so a strong personal and deal thesis is table stakes
What Searchers Say
Named in search-fund discussion as a long-standing backer, anchored by Joel Peterson's role in the model's early history; individual experiences track the specific partner relationship, as with all search investors.
How to Approach
Firms do not publish a term sheet you can prepare against, so this is how traditional (investor-backed) search capital comes in, what it weighs, and how to arrive ready.
The Typical Arc
- A first conversation on your background and why search, before any deal.
- A deep dive on your plan: industries, criteria, and how you will source.
- Backing for the search itself, then a fresh underwrite when you bring a live deal.
- A board seat and governance once you close.
What It Weighs
- Whether you will finish a two-year search, not only start one.
- The quality of your thesis and target criteria.
- How you will behave on a cap table over a long hold.
How to Prepare
- Bring a sourcing thesis, not a blank slate. Buyer Profile Builder
- Know which firms lead versus follow, and on what terms. Investors
- Make your operator case on one page. Buyer Profile Builder