The Traditional Search Fund Model is Broken with Robert Graham

Robert Graham is a successful search fund entrepreneur. As a Partner at Search Investment Group (SIG), Robert advises searchers on deal sourcing, due diligence, and capital raises. He is also an investor in multiple Private Equity and search deals in the lower-middle market and is the CEO of Pillar Health Group, a group of healthcare companies he acquired through a self-funded search.

Robert and I discuss why he thinks the traditional search fund model is broken, and he provides his wisdom and expertise on how to improve it. Robert has an impressive track record for getting deals done and helping search fund entrepreneurs retain as much ownership as possible. If you are interested in acquiring a small business and want some pragmatic and honest advice, then you’ll want to listen to this podcast. 

Robert has an MBA from Harvard Business School and undergraduate degree from Texas A&M and worked in both private equity and operations before becoming a search fund entrepreneur.

Discussion Topics:

(1:11) Why the traditional search fund model is broken.

(7:35) Why Robert took the self-funded search approach.

(16:00) What makes SIG’s approach different.

(22:28) The profile of a successful self-funded searcher.

(26:47) How COVID has changed deal sourcing.

(33:41) How to deal with broken deals.

(44:37) How search funds will change over the next 5 years.

(49:32) How to mitigate the impact of a personal guarantee.

(53:43) Rapid fire questions.