In this episode of FP&A Tomorrow, host Paul Barnhurst and co-host Glenn Snyder discuss the dynamic intersection of private equity and financial planning & analysis (FP&A). With private equity firms increasingly focused on operational value creation over financial engineering, this discussion offers valuable insights into the evolving expectations for FP&A teams within PE-backed companies. The conversation covers everything from deal flow trends and building high-performing FP&A functions to the nuances of trust, alignment, and data in the PE environment.
Nate is a Senior Managing Director at Riveron Consulting, where he leads the private equity practice. With extensive experience supporting portfolio companies, Nate brings a sharp understanding of how to structure FP&A functions that drive value from early investment to exit. Jamie is Director of Financial Operations at Trivest Partners, a middle-market private equity fund. Jamie works closely with FP&A teams across Trivest’s portfolio, guiding companies through growth, transformation, and exit, with a clear focus on data-driven decision-making and operational excellence.
Expect to Learn:
- How private equity firms are shifting from financial engineering to operational value creation.
- Why FP&A is becoming a core strategic partner in PE-backed companies.
- The importance of early investment in data, tech stacks, and FP&A infrastructure.
- The difference between corporate FP&A and PE-backed FP&A environments.
- What skills and traits do PE firms value most when hiring FP&A professionals?
Here are a few quotes from the episode:
- “Private equity used to be all about financial engineering; now it’s about operational value creation.” - Jamie Lukaszewski
- “The most successful FP&A teams are the ones that align financial and operational KPIs to tell a complete story.” - Nate Heeren
- "You're not going to win many races with your legs tied together; you've got to be set up for success." - Nate Heeren
Nate and Jamie shared thoughtful and practical insights into the evolving relationship between private equity and FP&A. They emphasized the growing importance of operational value creation, the foundational role of trust and alignment, and the need for robust data infrastructure to support strategic decision-making.
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In Today’s Episode
[02:11] - Guest Introduction
[02:58] - What Great FP&A Looks Like
[04:42] - PE Trends & Market Shifts
[07:31] - Early vs. Late Stage Projects
[12:02] - PE & FP&A: Building Trust
[17:32] - Corporate vs. PE FP&A
[22:24] - Hiring: What PE Firms Look For
[32:49] - Successful FP&A-PE Relationship
[41:57] - Final Advice & Wrap-Up
FP&A Unlocked