GHP Funds

SVP I

SVP I, the debut fund for the firm, closed in December 2002 and invested with four highly successful leveraged buyout funds. SVP I is diversified by sector and geography.

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SVP II

SVP II is a leveraged buyout fund of funds which closed in December 2006. SVP II represents a continuation of the successful strategy utilized by the predecessor fund, primarily investing with large, top tier LBO and growth equity firms. SVP II is diversified by sector and geography.

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SVP RE I

SVP Real Estate I, LP ("SVP RE I"), closed in February 2008, is a private real estate fund of funds. As with SVP I & II, SVP RE I received allocations with historically successful, highly sought after underlying fund managers who pursue compelling investment strategies. The fund is diversified by sector (Office, Hotel, Industrial/Warehouse, Retail and Residential) and geography (U.S., Europe, and Asia/Pacific).

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GHP COF

The GHP Credit Opportunity Fund (“GHP COF”) is a fund of alternative credit and distressed debt funds that is being raised and invested to pursue two specific investment themes: (1) the de-leveraging of European Banks, and (2) the potential for a distressed cycle in U.S. High Yield Credit. GHP COF will pursue complex liquid and illiquid credit opportunities in the U.S. and Europe.

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GHP Library

Ceridian Sees ‘Gig’ Economy as Next Big Growth Driver After IPO

Posted on by Granite Hall Partners
By

Kristine Owram
 Updated on 
  • Company’s stock has gained more then 40% in three trading days
  • Dayforce HR cloud platform has seen growth of 60% over 5 years
Photographer: Kris Tripplaar/Sipa USA/ AP Photos

Ceridian HCM Holding Inc. soared in its first days of trading as the payroll company sees rising demand for its software from more employees entering the so-called gig economy of temporary or contract work.

 “There are great global opportunities for growth,” Chief Executive Officer David Ossip said in an interview. “There’s some functionality that we offer in terms of being able to do continuous calculations and same-day pay which really addresses a lot of opportunity in the gig economy.”
 Minneapolis-based Ceridian spiked 43 percent since it began trading on the New York and Toronto stock exchanges last Thursday, bringing its market value to $4.2 billion. The company sold shares at $22, raising $631.3 million in the initial public offering and a private placement. Shares slipped 0.5 percent Tuesday to $31.42.

Ossip, who founded Canadian software maker Dayforce before it was acquired by Ceridian in 2012, said he chose the dual listing as a recognition of Dayforce’s Canadian roots and the more robust tech sector in the U.S.

 “As a cloud tech company, there are many more comparables in the U.S. than in Canada,” Ossip said. “But I also think we need to have examples of scaled tech companies that are in Canada. One of the challenges we’ve always had in Canada is that at a certain level companies sell out as opposed to persevering and growing.”

Expansion hasn’t been an issue for the Dayforce platform, which has seen a compound annual growth rate of more than 60 percent over the past five years, he said. Dayforce counts BlackRock Inc., Trader Joe’s Co. and the Denver Broncos among its customers.

Ossip said profit remains “very robust” with earnings before interest, taxes, depreciation and amortization up nearly 40 percent in the first quarter compared with a year earlier.

This potential mattered more to investors than the recent increase in market volatility, particularly in tech stocks, Ossip said.

“It’s something that we watched very closely, but we were confident that the fundamentals of the business were very strong and that we’d be successful regardless” of volatility.

Ceridian, owned 51 percent by Thomas H. Lee Partners after the IPO, manages HR functions, payroll and benefits for about 2.5 million active users.

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