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On February 1, 1946, John Hay “Jock” Whitney wrote a $5 million check to form J. H. Whitney & Co. In doing so, Jock created one of America’s first private equity firms and, at the same time, forever changed the face of American entrepreneurialism.
 Jock’s stated goal was to provide capital and professional assistance to entrepreneurs creating new companies and industries. He quickly delivered tangible results by completing the first post-World War II leveraged buyout, Spencer Chemicals, converting a munitions plant into a fertilizer facility. Shortly thereafter, J.H. Whitney introduced the world to Minute Maid Orange Juice, a product in part developed in our original office kitchen.
 The Firm's successes led other prominent families to fund private equity activities in the 1950's and 1960's. For more than 40 years, J.H. Whitney & Co. invested Whitney family capital, growing Jock’s original $5 million commitment to more than $1 billion. During much of this period, the Firm was led by Benno Schmidt, recognized by all as a pioneer and giant in our industry. As a private family investment firm, J.H Whitney invested in many notable companies including Compaq Computer, Memorex, Filene’s Basement and, of course, Minute Maid.
Peter Castleman and Mike Stone joined the Firm in 1987 and 1989, respectively. Peter became Managing Partner in 1990. It was then that J.H. Whitney transitioned from investing Whitney family capital to aggregating and managing capital for leading foundations, universities, and pension funds, as well as high net worth individuals. Over the past 15 years, J.H. Whitney has raised more than a dozen “alternative asset” funds, including six large private equity funds, with more than $6 billion under management today. During this period, J.H. Whitney has invested in more than 100 companies, including The North Face, Herbalife, Steel Dynamics and US Corrections Corp. |
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