Masters in Business

Michael Fisch on Private Equity Funds

Dec 1, 2023

Barry Ritholtz interviews Michael Fisch, CEO and co-founder of American Securities LLC. They discuss the secret to growing a successful private equity firm, impact of interest rates on cash flow, refinancing strategies, survivorship bias, investing in stable industrial businesses, and the growth and evolution of the private equity industry.

01:03:21

Creator website

Episode guests

Michael Fisch

AI Summary

Highlights

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

American Securities focuses on investing in market-leading companies with strong market share and growth potential.

American Securities prioritizes working closely with existing management teams, supporting them to improve operations and drive growth.

American Securities aims to create value in companies by providing resources, expertise, and capital despite a decrease in deal volume, as prices for quality companies remain strong in the market.

Deep dives

Investing in Market Leading Companies

American Securities focuses on investing in market leading companies with strong market share and growth potential.

The Growth and Impact of Private Equity Investments

01:20

Career Advice and Observations on Private Equity Growth

01:22

Challenges of Capital Structure and Working Capital Management

01:18

The connection between market forces and corporate citizenship in private equity

01:43

Introduction

2min

Michael Fish's Background and Career Plan

18min

Objectives and Investment Strategy

3min

The Secret to Successfully Growing a Private Equity Firm

12min

Private Equity Firms: Impact of Interest Rates and Cash Flow Challenges

3min

Refinancing Strategies and Interest Rates

16min

Survivorship Bias and Focus on Sectors

2min

Investing in Stable Industrial Businesses

10min

The Growth and Evolution of the Private Equity Industry

3min

Bloomberg Radio host Barry Ritholtz speaks to Michael Fisch, CEO and co-founder of American Securities LLC. He is a managing member of the general partners of the American Securities Partners' series of private equity funds and a member of the investment committee of AS Birch Grove. He was previously a partner in two private equity funds, a consultant in the Paris office of Bain & Co., and worked in the mergers and acquisitions department of Goldman Sachs.

See omnystudio.com/listener for privacy information.

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.

Masters in Business

Michael Fisch on Private Equity Funds

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Investing in Market Leading Companies

Partnership with Management

Value Creation and Exit Strategy

Investment Strategy and Acquisitions

Industrial Sector Focus

The Growth and Impact of Private Equity Investments

Career Advice and Observations on Private Equity Growth

Challenges of Capital Structure and Working Capital Management

The connection between market forces and corporate citizenship in private equity

Remember Everything You Learn from Podcasts