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The Tenfold Monthly
February 2025
Yinka Branco-Rhodes
February 04, 2025 • Reading Time: 10 minutes
Hello,
In January, firms set the tone for the year, discussing headcount plans and overall hiring strategies. Many of these conversations have been positive, focusing on making more strategic hires in 2025—a clear signal that firms are shifting toward growth-focused talent moves.
The year began with excitement around the $500 billion Stargate Project—a landmark investment in AI infrastructure led by OpenAI, Oracle, and SoftBank—was announced. However, DeepSeek’s R1 launch quickly shifted momentum, which sent shockwaves through the tech industry and rattled markets, triggering a sell-off in U.S. tech stocks, with companies like Nvidia taking a significant hit. The Tenfold team will be at MetroConnect this month, where we expect DeepSeek’s impact and AI overbuild to be hot topics of discussion among industry leaders. We look forward to sharing insights from our conversations in next month’s edition.
Private credit continues to shine, with significant fundraising announcements setting the pace for the year. Thoma Bravo closed its Credit Fund III at $3.6 billion, focusing on senior secured debt for enterprise software companies. Francisco Partners exceeded its target by raising $3.3 billion for its FP Credit Partners III fund, while Guggenheim Investments secured $400 million to support lending to midsize private businesses. These announcements confirm what we’ve seen firsthand—private credit funds are driving a surge in mid-to-senior level hiring as they deploy fresh capital and expand their teams. In investment banking, firms like Piper Sandler and Marathon Capital are making moves, with Piper adding senior infrastructure investment bankers and Marathon expanding its leadership in clean energy advisory.
If the start of 2025 has taught us anything, this year could be full of surprises. We look forward to seeing how firms and talent navigate what promises to be a transformational year.
Explore the key stories, job opportunities, and industry insights below!
Industry Insights & News
Here are some curated reads from around the web to keep you informed:
OpenAI now wants to make DeepSeek look like the villain (CNN)
Sam Altman’s Answer to DeepSeek Is Giving Away OpenAI’s Tech (WSJ)
Point72 kicks off new private credit strategy, statement shows (RT)
Apollo Makes Key Leadership Appointments Aligned to Firm’s Five-Year Plan Announced at 2024 Investor Day (APOLLO)
Trump announces private-sector $500 billion investment in AI infrastructure (RT)
KKR Combines $157 Billion Infrastructure, Real Estate Businesses (BB)
Aligned Data Centers completes capital raise of over $12 billion (RT)
The Golden Opportunity for American AI (MS)
Marathon Capital Announces Senior Leadership Expansion (BW)
Citadel Extends Non-Compete to 21 Months to Retain Talent (YF)
Singaporean data centre company Digital Edge raises over $1.6 billion (RT)
Piper Sandler Hires Three Key Infrastructure Investment Bankers (BW)
Fundraising & Deal News
Discover the latest financial milestones and transformative deals in our sector-focused roundup:
Blue Sage Capital Successfully Closes an Oversubscribed and Over Hard Cap Fund IV - $618 Million Fund More than Double the Size of the Prior Fund (BW)
Fengate announces final close of US$1.1 billion flagship infrastructure fund above target (FAM)
Francisco Partners Banks $3.3 Billion for Private-Credit Bets (WSJ)
Guggenheim Closes $400 Million Credit Offering With Boost From Asset Sale (WSJ)
Thoma Bravo Completes Fundraising for Credit Fund III, Amassing $3.6 Billion in Total Available Capital for its Platform (PRN)
Sky Island Capital Closes Second Fund Above Target at $300 Million (GN)
Ridgewood Infrastructure Announced $1.2 Billion Final Close for Fund II, Significantly Surpassing Its Target (PRN)
New York powerhouse VC Insight Partners nabs another $12.5B after $8B in exits (TC)
Colbeck Capital Raises $700 Million for Latest Vintage Strategic Lending Fund (BW)
StepStone’s inaugural infra fund reaches final close oversubscribed at $1.2bn - exclusive (II)
Open Roles & Opportunities
Are you looking to explore new career opportunities, or do you know someone who is? We are currently connecting with talent in various sectors. Reach out to discover more about these exciting opportunities.
Senior Associate/VP, Tech & Digital Infrastructure Join a leading investment firm specializing in digital infrastructure, software, and enterprise IT—partner with top founders to scale innovative businesses in high-growth sectors.  Associate, Tech Growth Equity Join a top growth equity firm specializing in enterprise software and technology-enabled services, known for scaling transformative companies and fostering innovation. Work closely with visionary founders and industry leaders.  Associate, Energy Services Join a leading private equity firm with decades of expertise in the energy services sector. Positioned to capitalize on industry growth, associates work on transformative investments, drive value creation, and collaborate with top industry experts shaping the future of energy services.  Senior Analyst/Associate, Digital Infrastructure (Stamford, CT)  | Senior Associate, Private Credit Tech & Digital Infrastructure Join a growing private credit firm focused on technology services, telecom, and digital infrastructure. Work with seasoned investors backing high-growth businesses in a sector with significant tailwinds.  Private Equity Associate, Energy & Infrastructure (Houston, TX) Join a prominent energy investment firm in Houston searching for an associate to join its energy transition investment team.  Associate, Tech Growth Equity Join a dynamic growth equity firm transforming middle-market technology companies. Associates drive operational improvements, collaborate with seasoned professionals, and shape strategic growth initiatives.  Associate/Senior Associate, Healthcare Growth Equity (San Francisco, CA) Join a leading private equity firm in innovative healthcare investments. Gain hands-on experience in deal sourcing, due diligence, and portfolio management with seasoned professionals driving transformative growth.  |
What Our Clients & Candidates Are Saying
At Tenfold, client and candidate success fuels our innovation and ambition. Discover the impact of partnership through their words:
“In an industry filled with spam messages from recruiters that are largely unrelated to infrastructure investment professionals, Tenfold offered a personalized touch and experience that was unique. Couldn’t be happier with my experience with Tenfold!”
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As we close out this edition of The Tenfold Monthly, staying informed and connected is more important than ever. We look forward to sharing more insights, opportunities, and success stories with you next month.
Take care,
The Tenfold Team