What it Takes to Scale Ops in Private Equity - Jay Maher - Global Chief Operating Officer - H.I.G. Capital

May 16, 2025

In this engaging conversation, Jay Maher, the Global Chief Operating Officer at H.I.G. Capital, shares insights from his 30-year career in private equity. He discusses the complexities of building a centralized data warehouse and balancing entrepreneurial culture with institutional standards. Jay explains how the implementation of advanced systems like Workday HCM enhances operational efficiency. He also emphasizes the importance of aligning vendor partnerships with strategic goals and the COO’s pivotal role in fostering talent and investor service.

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ANECDOTE

Jay Maher's Early Career

Jay Maher started as a fund accountant at Merrill Lynch, manually calculating daily NAVs with paper and calculator tape.
He progressed by automating fund processes and building fund administration teams, eventually co-founding a fund services business.

INSIGHT

Operational Alpha Evolution

The private markets industry has mastered basic fund accounting and reporting automation.
Now, firms focus on organizing and consolidating data across multiple systems and asset classes for scalability.

ADVICE

Start Data Work Early

Start organizing data early, even as a smaller firm.
Break down data projects into manageable sprints to show progress and avoid analysis paralysis.

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In this episode of The Distribution, host Brandon Sedloff sits down with Jay Maher, Global Chief Operating Officer at H.I.G. Capital, to explore what it takes to build scalable operational infrastructure inside one of the world’s leading middle-market private equity firms. With a career spanning over 30 years in fund administration, technology, and operational leadership, Jay brings a unique perspective on institutional growth, data strategy, and the evolving role of the COO.

They discuss Jay’s journey from cutting NAVs on paper at Merrill Lynch to co-founding and selling multiple fund services businesses, and how that experience informs his approach to streamlining systems, breaking down silos, and preparing H.I.G. for its next phase of growth.

They also cover:

The complexities of building a centralized data warehouse across asset classes
How H.I.G. balances entrepreneurial culture with institutional standards
The implementation of Workday HCM and firm-wide performance systems
Operational lessons from scaling multiple fund administration teams
How to design effective vendor partnerships with aligned incentives
The strategic role of the COO in talent, technology, and investor service delivery

This episode is a behind-the-scenes look at operational alpha in action, offering a rare window into how scaled private equity firms are building durable foundations for long-term growth.

Links:

Jay on LinkedIn - https://www.linkedin.com/in/jay-maher-90b71616/

H.I.G. Capital - https://hig.com/

Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/

Juniper Square - https://www.junipersquare.com/

Topics:

(00:00:00) - Intro

(00:02:07) - Jay’s career and background

(00:18:18) - The state of operational alpha for private markets

(00:23:10- Advice for folks trying to wrap their heads around maintaining clean data

(00:27:00) - How does HIG think about the role of operations and data in the firm's strategic vision?

(00:29:59) - Jay’s role as COO

(00:38:14) - Leadership philosophies

(00:40:55) - Outsourcing approaches

(00:44:08) - Developing successful partnerships

(00:46:02) - What’s something that surprised you in your role as COO?

(00:48:10) - How do you get people to change?

(00:52:52) - What do you see on the horizon over the next 3-5 years?