Private equity eyes D.C.: Subject Matter sells stake
- Mike Allen, author of Axios AM
Subject Matter, a top D.C. "creative advocacy" firm, today will announce an investment by Coral Tree Partners, an L.A.-based private-equity firm.
Why it matters: Activist government, combined with geopolitical uncertainty, is creating an increasing market to influence and understand the political world, a top operative tells me. So private equity is increasingly hungry for stakes in D.C. firms.
Subject Matters' managing partners are Steve Elmendorf, Paul Frick, Jimmy Ryan, and Dan Sallick.
- The firm has a bipartisan government relations team — plus ad, event and communications services — for corporate, trade-association and nonprofit clients.
Elmendorf said: "The Coral Tree partnership marks the next chapter in Subject Matter’s story. ... With Coral Tree we have an opportunity to take it to the next level, crafting customized, creative strategies that deliver real time results and align with longer term strategic positioning and objectives."
- Will Wynperle, a Coral Tree partner, said: "We see tremendous opportunity to continue building off [Subject Matters'] strong reputation and track record as well as its positioning at the center of numerous secular tailwinds."