Key Takeaways
- • Dave Tayeh and Jay Alix have launched Tayeh Capital Group (TCG), a New York-based growth-focused private equity firm, backed by GCM Grosvenor's Sponsor Solutions platform and its Elevate Fund.
- • TCG will target family-owned, rapidly growing middle market companies in business services sectors with strong fundamentals and secular tailwinds.
- • The Elevate Fund's inaugural vehicle closed in December 2024 with nearly $800 million in committed capital; TCG is its third investment.
- • Tayeh, formerly Global Head of Private Equity at Investcorp, will serve as Managing Partner leading investment and fundraising; Alix, founder of AlixPartners, will serve as Senior Advisor and Investment Committee member.
- • GCM Grosvenor (Nasdaq: GCMG), with approximately $86 billion in AUM, positions the launch as part of its emerging manager strategy.
Summary
Tayeh Capital Group (TCG), a relationship-based, growth-focused private equity firm, announced its official launch on October 1, 2025, led by Dave Tayeh and Jay Alix, with backing from GCM Grosvenor, according to a Business Wire release. The firm will partner primarily with founders and management teams of family-owned, rapidly growing middle market companies, concentrating on business services sectors with strong fundamentals benefiting from secular tailwinds.
Tayeh will serve as TCG's Managing Partner and lead investment and fundraising activities from the firm's primary office in New York. Prior to launching TCG, he was Global Head of Private Equity at Investcorp, where he sat on the Executive Committee, Operating Committee and various Investment Committees. Alix, who founded management consulting firm AlixPartners in 1981 and remains a board member and shareholder there, will serve as Senior Advisor and a member of the Investment Committee. The team has a history of working together as investors and operators and plans to draw on a network of industry relationships for sourcing and value creation.
GCM Grosvenor's Sponsor Solutions platform, through its Elevate Fund, provides catalytic seed investments to emerging private equity firms. TCG represents the third investment from the Elevate Fund's inaugural vehicle, which completed its final close in December 2024 with nearly $800 million in committed capital. The Elevate Fund's investor base includes CalPERS and a range of corporate, endowment, foundation, insurance and family office investors. Kevin Nickelberry and Elizabeth Browne, Managing Directors and Co-Heads of GCM Grosvenor's Elevate strategy, described TCG as a fit for the platform, with Browne saying sophisticated investors are seeking proven emerging managers with cohesive teams and strong track records.
Tayeh said the middle market remains as compelling as it has been in his 30-year career, and that TCG intends to offer founders a collaborative, roundtable approach to long-term value creation, along with access to a network of advisors, board members, operators and strategic partners.
Tayeh will serve as TCG's Managing Partner and lead investment and fundraising activities from the firm's primary office in New York. Prior to launching TCG, he was Global Head of Private Equity at Investcorp, where he sat on the Executive Committee, Operating Committee and various Investment Committees. Alix, who founded management consulting firm AlixPartners in 1981 and remains a board member and shareholder there, will serve as Senior Advisor and a member of the Investment Committee. The team has a history of working together as investors and operators and plans to draw on a network of industry relationships for sourcing and value creation.
GCM Grosvenor's Sponsor Solutions platform, through its Elevate Fund, provides catalytic seed investments to emerging private equity firms. TCG represents the third investment from the Elevate Fund's inaugural vehicle, which completed its final close in December 2024 with nearly $800 million in committed capital. The Elevate Fund's investor base includes CalPERS and a range of corporate, endowment, foundation, insurance and family office investors. Kevin Nickelberry and Elizabeth Browne, Managing Directors and Co-Heads of GCM Grosvenor's Elevate strategy, described TCG as a fit for the platform, with Browne saying sophisticated investors are seeking proven emerging managers with cohesive teams and strong track records.
Tayeh said the middle market remains as compelling as it has been in his 30-year career, and that TCG intends to offer founders a collaborative, roundtable approach to long-term value creation, along with access to a network of advisors, board members, operators and strategic partners.
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