Dry Powder: The Private Equity Podcast

Thoma Bravo’s leading enterprise software investor discusses exit strategies, bid-ask spread challenges, impact of interest rate spikes on valuations, competitive deal structures, efficient debt markets, software's superior business model, evolution of strategic exits in software industry, cloud computing impact, proactive company sourcing, and transformative partnerships in private equity.

Holden Spaht from Thoma Bravo discusses the tech market's growth prospects and strategies for dealing with economic challenges in enterprise software investments. They explore Thoma Bravo's unique approach to tech investing, focusing on operational excellence and profitability. The podcast also delves into strategic insights in private equity deals and optimizing portfolio companies for profitability and valuation.

William Foster from Bridgespan discusses data-driven impact investing in private equity. Topics include social impact metrics, driving change in capital markets, setting standards for impact investing, the balance between market returns and social impact, and the importance of clear metrics in distinguishing impact investing from ESG investing.

Bain’s leading macro expert discusses the impact of Federal Reserve rate cuts, challenges in predicting market behavior, interest rates, inflation, and economic indicators. Analyzing payroll data discrepancies, European economic prospects, and geopolitical risks for investors including the influence of Chinese electric vehicles on the European car industry.

Exploring the shifts in private equity deals from 2022 to 2024, with a focus on high pricing due to intense competition and sellers favoring resilient assets. Analyzing challenges in exits, the need for strategic exits to unlock value, and strategies for maximizing EBITDA. Emphasizing operational improvements and innovation in private equity firms for future success.

Explore the strategic success factors of top-performing GPs in the private equity industry, navigating industry volatility, evolution and complexity of private equity, power of diversity in team building and decision making, and board diversity for performance.

A pioneering investor discusses the history and future of private equity, challenges the industry's conventions, and predicts the growth of the industry. They explore the complexities, debunk predictions of decline, and highlight the importance of human capital in driving industry growth.

The podcast discusses the liquidity crisis in secondaries markets and how it could be an opportunity. It explores the surge of interest in the NASDAQ private market due to challenging fundraising environment and significant discounts in secondary markets. It also delves into the obstacles to liquidity in private markets including valuation issues and contractual terms. The lack of transaction data and benchmarks in private markets is discussed along with the potential for future liquidity and regulatory adaptation.

Nigel Dawn, senior managing director at Evercore, discusses the growth and development of the secondaries market over a 20-year period, exploring tools and strategies such as securitizing LP interests, selling notes in the bond market, and utilizing NAV loans. They also highlight the benefits of GPs retaining their investments, the use of continuation vehicles, and the potential growth and constraints of the secondary market in private equity.

Greg Callahan and Monica Oliver, experts in commercial excellence at Bain, dive into the rapidly transforming world of investor relations. They discuss the critical need for firms to modernize their IR practices to gain a competitive edge in a saturated fundraising market. Key topics include understanding evolving investor dynamics, effective account planning for building lasting relationships, and the impact of technology and diverse talent in revolutionizing IR strategies. Their insights offer practical approaches for long-term success in the asset management landscape.