Despite being one of the most profitable niches in the finance industry, private equity remains a largely uncharted territory for many potential investors. For many years, the private equity landscape has been shrouded in mystery. Investors are typically skeptical and can’t keep up with most of the deals that transpire. That was before Patrick Duong entered the scene in 2016, and took things to a whole new level.
Patrick Duong is the founder and CEO of Talent Evaluation Group LLC, a private equity consulting firm that creates solutions for banks, private equity firms, venture capitalists, hedge funds, and investors, by increasing their profit margins and lowering their operating costs.
A Rainbow of A Childhood:
Growing up for Patrick was a full spectrum of all the colors of life. He was born in Vietnam and with an eyesight disability at birth. Three years later, his mother fled the country after South Vietnam was conquered, taking her young son with her. They eventually sought refuge in The Philippines, where they spent a year living in an underfunded refugee camp. An opportunity presented itself for the mother-and-son duo to move to the United States and they gladly took it. Barely one year after arriving in the US, five-year-old Patrick was abandoned by his mother and placed in the care of a foster mother.
Patrick struggled a lot as a teenager, largely due to the instability he experienced in his early life. He got mixed up with gangs, theft, and drugs and he soon found himself homeless and broke. He straightened himself out when he reconnected with his grandparents and spent a year and a half living with them between Paris and Ho Chin Minh City in Vietnam. He was forced to get married and by the time Patrick turned 18, he was blessed with the birth of his son.
Barely an adult, Patrick was thrust with the responsibility of providing for a new family. Not one to take family lightly, he went out to seek work and found a sales job at a thriving health and wellness company. He gave that job everything he had, dedicating between 80-100 hours every week. His hard work was recognized and he rose quickly to General Manager, Vice President, then Senior Vice President in only 10 years. After spending 12 years with this company, Patrick decided to set out on his own.
Falling and Rising Again:
Patrick Duong took every last penny he had and invested in a business partnership with a close friend. He got severely burned when his partner became dishonest and lost all his investment. Still, he refused to give up and that was when he founded Talent Evaluation Group LLC. With more than a decade of experience in senior-level decision making roles, it was a natural transition for Patrick.
Talent Evaluation Group has scaled very quickly, recording awe-inspiring growth in only four years since it was founded. Patrick attributes most of his success to his employees and clients. He has been able to grow his brand into an internationally recognized organization because of the unwavering commitment of his employees, and complete trust from his clients and investors.
Opportunity In The Future:
Patrick and his team offer business strategy services to banks, shareholders, hedge funds, and venture capitalists on strategy, operations, risk management, compliance, and marketing. Even in tough times like these, Talent Evaluation Group has added a large number of investors from private equity firms, venture capitalists, athletes, and even celebrities looking for income-generating ways to give back to the community. Start-ups under Patrick’s umbrella continue to thrive, receiving funds to scale and grow their product ranges. Talent Evaluation Group is here to stay.
Photo Credit: Johnathan Nguyen