Waldman Analyzes Change in Board Composition in PE-Backed Company Amid Election Year Focus

Tom Waldman is highlighted in the NBC News article titled “Tim Sheehy May Turn the Senate Red. But Is He Really a Successful Businessman?” The piece critically examines Tim Sheehy’s business credentials amid his Senate campaign as well as Blackstone's investment in Sheehy's company, Bridger Aerospace.

Waldman, who specializes in private equity, states that Blackstone’s decision to relinquish its board seats at Bridger while still holding a stake in the company is "not something I've seen." He notes that it is unusual for private equity firms to give up board seats before fully exiting their investment, as they typically maintain these positions to closely monitor operations. Waldman highlights that Blackstone's move suggests a strategic shift, possibly aimed at allowing greater flexibility in managing their remaining stake and focusing on new investments.