BT
LP profile
Bessemer Trust
Pension fund · Founded 1907 · New York City, United States
39
VC firms backed
$45B
AUM
01 · Background
Who Bessemer Trust is.
- Historical Background
- Bessemer Trust was established in 1907 by Henry Phipps, a co-founder of Carnegie Steel, to manage the wealth derived from the sale of the steel company for his descendants. The institution was originally conceived as a private family office and was named after the Bessemer process, a pivotal steel-making technique used by Carnegie Steel. In 1974, the Phipps family reorganized the firm to also serve other high-net-worth families, transitioning it into a commercial multi-family office.
- Source of Capital
- The firm's capital is privately held and originates from its clients, which consist of high-net-worth individuals, families, foundations, and endowments. As a multi-family office, its primary function is to provide comprehensive wealth management services for a select number of affluent clients rather than sourcing capital from a broad institutional base like pension funds.
- Major Events
- The most significant event in the company's history was its 1974 transformation from a single-family office for the Phipps family into a multi-family office that accepts outside clients.
- Allocation Strategy
- Bessemer Trust offers comprehensive wealth management, which includes investment management across a variety of asset classes, including public equities and fixed income. The firm provides access to alternative investments, such as private equity and real estate, often through its own proprietary funds. Investment strategies are tailored to individual client goals, focusing on long-term capital preservation and growth for multigenerational wealth.
02 · Fund commitments
The funds Bessemer Trust backs.
Bessemer Trust is a limited partner in 39 funds. 9 of them place in the Power Law Investor Ranking; those lead, best-ranked first.
Accel
#4 Power Law
Lightspeed Venture Partners
#7 Power Law
New Enterprise Associates
#8 Power Law
General Catalyst
#13 Power Law
Bessemer Venture Partners
#17 Power Law
Atlas Venture
#53 Power Law
Highland Capital Partners
#192 Power Law
Bain Capital
#239 Power Law
Blackstone
#240 Power Law
Adams Capital Management
Advent Venture Partners
Apollo Global Management
Audax Private Equity
Brockway Moran & Partners
CVC Capital Partners
Felix Capital
Gemini Israel Ventures
Motion Equity Partners
03 · Allocation
How Bessemer Trust’s fund book is spread.
The 39 funds Bessemer Trust backs, by where the manager is headquartered and how many funds that manager has raised.
Where those managers are based
By fund headquarters.
- North America 3385%
- Europe 513%
- Rest of world 13%
United States 33 · United Kingdom 3 · France 1 · Israel 1
How established those managers are
Managers grouped by how many funds they have raised — across the 25 of 39 with a fund history on record.
Emerging funds · 10
Established funds · 15
3
1
4
2
3
3
4
5
5-6
2
7-9
1
10-14
7
15+
Funds raised by the manager
04 · Direct investments
The companies Bessemer Trust backs directly.
Bessemer Trust holds 3 companies directly, separate from the funds it commits to as a limited partner.
05 · Other LPs
Other LPs.
Other pension funds in the Power Law LP ranking, closest to Bessemer Trust by combined power-law score — North America first, then the nearest worldwide.
🇺🇸
UPMC Master Trust
31 VC funds backed
🇺🇸
National Automatic Sprinkler Industry Pension Fund
$1.7B AUM
57 VC funds backed
🇺🇸
STRS Ohio
$95B AUM
106 VC funds backed
🇺🇸
State of Michigan
$96B AUM
55 VC funds backed
🇺🇸
State of Michigan Retirement Systems
$100B AUM
49 VC funds backed
🇬🇧
Hampshire Pension Fund
$9.0B AUM
48 VC funds backed
🇺🇸
Lockheed Martin Master Retirement Trust
$24B AUM
37 VC funds backed
🇺🇸
BP Master Trust For Employee Pension Plans
$13B AUM
26 VC funds backed