Private Equity Value Creation Podcast Ep. 90: Gus Araya, Cordillera Investment Partners | Building Value in the Lower Middle Market with an Operational Playbook
Sep 16, 2025
Gus Araya, Co-Founder and Co-Managing Partner of Cordillera Investment Partners, specializes in investing in alternative assets like marinas and music royalties. In this conversation, he shares how private equity can thrive in less competitive markets. Gus discusses the power of an operational playbook and the importance of thorough due diligence. He dives into strategic sourcing and how to navigate unconventional investment avenues. Finally, he emphasizes building partnerships to create sustainable enterprise value and attract investor backing.
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Find Less-Crowded Investment Ponds
- Alternative assets can be truly less correlated and offer better return per unit of risk when institutional capital hasn't crowded the space.
- Being early into niches lets Cordillera underwrite without competing on valuation or speed.
Early Music Royalties Win Then Exit
- Cordillera bought music royalties in 2015 when the industry was out of favor and cash flows were steady and uncorrelated.
- Years later the market found music royalties and returns compressed, so they moved on to new niches.
Marina Rollup Before The Crowd
- Cordillera targeted the fragmented U.S. boat marina market where 80% were mom-and-pop owned and hard to overbuild.
- They consolidated and professionalized marinas until large PE firms started buying in.
