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Hampton University Alumnus Calvin Butts Jr Is Becoming A Private Equity Mogul: 5 Things to Know

Hampton University Alumnus Calvin Butts Jr Is Becoming A Private Equity Mogul: 5 Things to Know

Butts

Calvin Butts Jr. (Photo: East Chop Capital website)

Correction: An earlier version of this article contained errors regarding the father of Calvin Butts Jr.

Calvin Butts Jr., a Hampton University alumnus, is well on his way to becoming a private equity and real estate mogul.

Butts credits going to Hampton, one of the country’s Historically Black College and Universities, for leading him toward a successful career. The HBCU was founded in 1868 as Hampton Agricultural and Industrial School and was established by Black and white leaders of the American Missionary Association after the American Civil War to provide education to freedmen. Today, it has a total undergraduate enrollment of 3,063, and admissions are very selective, with an acceptance rate of 36 percent, according to Best Colleges.

Here are five things to know about Butts’ entrepreneurial journey.

1. The founding of Getaway Society

He is the co-founder of Getaway Society, a luxury vacation rental home company. Founded in 2014, the company has a real estate portfolio valued at more than $5 million.

His co-founder and business partner in the venture is Carrington Carter, who is also a graduate of Historically Black University Hampton. When his old college friend Carter presented his business plan for vacation rental homes while meeting up at Hampton University’s homecoming in 2013, Butts loved the concept. He wrote an investment check soon after–and then became a co-founder.

2. Gateway’s real estate portfolio

The partners purchased their first property in the Poconos Mountains in September 2014. Since then, Getaway Society has purchased vacation properties in Martha’s Vineyard and Hilton Head, SC, the Savanna Tribune reported.

Getaway Society is a luxury vacation rental home company with properties in Martha’s Vineyard, Hilton Head, the Poconos, Gatlinburg, and Orlando. Founded by Calvin L. Butts, Jr. and Carrington M. Carter, their love for travel, exploring the world, social and family gatherings, and meeting new people served as the catalyst to starting the company.

If you’ve ever rented a vacation home with family, friends, or friends of friends, you know there’s nothing like the experience and bonding that results from dwelling together in a home away from home. We provide that experience for people all over the world.

3. Butts: HBCU Grad

According to Butts, attending an HBCU has played a significant role in his business achievements.

“Being at Hampton since that very first day in a family environment and having the faculty so dedicated to your success. I’ve built relationships that have lasted until my post-graduate life, and they have been valuable throughout this whole experience. Having people come together from different and similar backgrounds to succeed created examples that I still use in partnerships today,” he explained on the Hampton University website.

He earned his Bachelor of Science degree from Hampton in 2002. In 2011 and 2014, he furthered his executive education by attending Harvard Business School, where he studied digital marketing and healthcare delivery. Butts later earned an Executive MBA from the Richard J. Fox School of Business and Management at Temple University.

He serves on the trustee board at Hampton University.

He is also married to a Hampton University alumna, April Butts of Clifton, Virginia.

4. Butts: Angel investor to Black founders

Butts is also building on his career as an angel investor through East Chop Capital, which he co-founded with Carter in 2018. The concept behind ECC is to help Black founders. Lack of access to capital is a major challenge for businesses and entrepreneurs, especially Black-owned businesses. ECC aims to eliminate that disparity by providing resources to the businesses that need them, from seed to late-stage companies, according to the company’s website.

5. Butts: Private equity mogul

Butts is a general partner in the private equity firm East Chop Capital (ECC). In this role, he provides the opportunity for his clients to build wealth and multiple revenue streams through curated and vetted investments across real estate, hospitality, travel, technology, financial services, media, and sports.

A real estate fund, ECC owns and manages more than $20 million worth of homes in vacation communities.

Additionally, his family office CB3 Holdings has a portfolio of more than 30 companies. This includes Uncle Nearest, the fastest-growing Black-owned spirits company. According to the Hampton website, Butts’ portfolio also includes ownership of several successful healthcare, medical education, consulting, and marketing agencies.


Calvin Butts Jr. (Photo: East Chop Capital website, https://eastchopcapital.com/leadership)