Join Jordan Burton from Talgo, a leader in training private equity investors, as he dives into the art of hiring executives. He shares insights on the common pitfalls that lead firms to a mere 30% success rate in portfolio hiring. Jordan emphasizes the importance of preparing candidates for interviews and aligning stakeholder expectations. Discover how to craft an effective executive scorecard and the value of structured assessments. He warns against relying solely on past experiences, advocating for a focus on upward potential instead.

This conversation features Ron Ramanujan, a Technology Transformation Operating Partner with vast expertise in enterprise technology and machine learning. He highlights the shift in private equity from traditional financial strategies to technology-driven approaches for genuine value creation. Ron stresses early integration of digital strategies, the importance of assessing tech infrastructure during due diligence, and addressing cybersecurity risks. He also shares insights on leveraging AI while managing innovation and risk, ensuring firms remain competitive and secure.

Jeff Wigle, Managing Director at Banyan Capital Partners, shares his journey from being an accountant to leading private equity transformations. He discusses the crucial shift from founder-led to data-driven decision-making, emphasizing technology's role and the necessity of cultural alignment. Jeff also highlights common pitfalls in private equity, such as rushing transformations and the importance of long-term strategies. He reflects on the significance of the right talent in key roles and the evolving landscape of integrating AI in decision-making processes.

In this engaging dialogue, Sanjay Chandra, Managing Partner of Trinity Investors, shares his inspiring journey from immigrant to Texas entrepreneur. He reveals how he scaled American Leather to a $400 million business and transitioned into private equity. Sanjay discusses key lessons learned from risky investments and stresses the importance of understanding operational dynamics to support founders. He also explores current trends in domestic manufacturing and emphasizes the significance of mentorship and continuous learning in leadership.

Welcome to The Private Equity Podcast, by Raw Selection. Host Alex Rawlings interviews Randy Cohen, a lecturer at Harvard Business School, and Jean-Louis Lelogeais, co-founders of PEO Partners. Together, they dive into liquid private equity, its uses, and how it complements traditional private equity.Breakdown:[00:00] Introduction to Randy Cohen and Jean-Louis Lelogeais, founders of PEO Partners, and their experience in private equity and distressed debt[00:30] Randy introduces the concept of liquid private equity, its performance profile, and accessibility benefits[01:00] Jean-Louis highlights his background at SVP Global and their goal to create a liquid private equity solution[01:29] Explaining liquid private equity and how it aims to replicate the benefits of private equity in a liquid vehicle[02:26] Historical private equity performance and its outperformance compared to public markets with less volatility[04:20] Use cases for liquid private equity as a funding asset for capital calls and an accessible option for retail investors[06:16] Liquidity challenges for institutional investors and how liquid PE solves them[08:29] Challenges in achieving buy-in from institutional investors due to AUM requirements and consultant blessings[11:49] Retail investor access and diversification from traditional 60-40 portfolios with liquid PE[12:47] The rise of liquid private equity and why the concept is gaining traction[13:45] BlackRock's acquisition of Preqin and the growing focus on liquid market versions of private equity[16:07] Liquid PE strategy: mimicking leveraged buyouts through public companies, leveraging data, and hedging to reduce volatility[18:25] Steps to replicating PE returns: matching industry tilts, choosing LBOable companies, and implementing derivatives for downside protection[22:39] Challenges and limitations of liquid PE compared to traditional PE, including the inability to perform operational improvements[27:17] How liquid PE matches average private equity returns while offering lower fees and liquidity advantages[32:13] Broad sector diversification versus specialized vehicles in liquid PE portfolios[34:35] Trends in private equity sectors and the dominance of software and services in PE portfolios[37:01] Researching top quartile funds and leveraging insights for better industry selection[39:49] The importance of copying PE's strategic sector allocations instead of predicting trends[41:00] Closing thoughts on liquid private equity and its potential to complement traditional private equity[43:48] Jean-Louis reflects on founding SVP Global and managing $26 billion in assets[47:26] Randy shares his experience teaching at Harvard Business School and learning from PE professionals[49:05] Randy recommends the blog Marginal Revolution for insights on finance, economics, and culture[50:57] Jean-Louis highlights the entrepreneurial journey in Shoe Dog by Phil Knight and insights into building businessesTo be added to the book waitlist, you can email alex.offer@raw-selection.comThank you for tuning in!Connect with Randy or Jean-Louis, click here.To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com

Jon Sonnenschein, a Private Equity Operating Partner and former SaaS CEO, shares his expertise in cultural transformation within portfolio companies. He discusses the challenges of blending legacy and new cultures while emphasizing the importance of employee engagement. Jon highlights the need for data-driven decision-making and open communication to identify growth opportunities. He also explains how to elevate long-term employees to maintain continuity and discusses the 'star player bias' in talent acquisition, advocating for a holistic view of company culture.

Welcome back to The Private Equity Podcast, by Raw Selection! Today, we’re joined by Christen Paras, Partner of the Transaction Team at MiddleGround Capital, to explore innovative exit strategies and how MiddleGround is redefining Private Equity practices.Breakdown:[00:03] Christen Paras returns to discuss MiddleGround’s unique exit strategy approach.[00:30] Partner at MiddleGround Capital, based in New York City, leading the transaction team.[00:59] Private Equity firms often lack adaptability—Christen emphasizes innovation and agility.[01:26]  MiddleGround’s infrastructure, a KPI-driven, collaborative culture for scalable, efficient decision-making.[03:14] Weekly and quarterly meetings ensure team bandwidth and tackle key challenges.[04:32] A dedicated team builds repeatable processes for optimal outcomes.[05:29] Integrating transaction and operations expertise for seamless exits.[06:55] Ensuring readiness and alignment throughout portfolio lifecycles.[07:50] Aligning value creation with buyer expectations to maximize appeal.[10:14] Identifying detractors and enhancing portfolio company readiness.[13:25] Prioritizing actions that align with exit goals and maximize value.[15:37] Process mapping and standardization for exit preparation.[17:03] Metrics-driven timing and customized strategies for individual companies.[21:16] How exit teams enhance focus and drive superior results.[24:30]  Co-investor and lender insights refine exit strategies.[25:27] Industry updates, reports, and relationship-driven knowledge.[26:53] Christen reflects on MiddleGround’s approach and her career journey.To be added to the book waitlist, you can email alex.offer@raw-selection.comThank you for tuning in!Connect with Christen on LinkedIn here. To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com

Brad Armstrong, a Partner at Lovell Minnick, shares insights from his 25 years in private equity. He highlights the importance of sticking to fundamentals and the critical mistake of misaligning capital raising with deployment. Brad discusses identifying competitive edges and trends in financial services, emphasizing digital transformation. He elaborates on Lovell Minnick's 'all-weather strategy' for consistency, custom value creation plans, and the significance of effective executive selection in driving growth.

Welcome to The Private Equity Podcast, hosted by Alex Rawlings. Today’s guest is Seth Auld, VP of Portfolio Management and Deal Origination at Kompass Kapital. Seth shares his insights on building LP relationships, raising capital effectively, and the importance of sector specialization.Breakdown;[00:00] Introduction to Seth Auld and the episode’s focus on LP relationships and capital raising.[00:29] Seth’s journey from running a family business to private equity, including roles in banking, consulting, and Fortune 500 agribusiness.[03:14] Key mistake: Firms lack focus and fail to define a niche. Seth emphasizes sector specialization, strong operating partners, and avoiding transactional relationships.[05:36] Seth’s approach to relationships: Be genuinely curious, ask questions, and build trust. He recommends How to Win Friends and Influence People.[08:45] Importance of narrowing a niche and involving full-time, deeply engaged operating partners with relevant experience for target company size.[11:09] What appeals to LPs: Strong track record, operating partner alignment, and financial commitment to the fund.[13:58] Better LP engagement: Build relationships during the current fund, offer co-investment opportunities, and avoid transactional outreach.[14:58] The challenge of direct outreach to family offices and the value of referrals, conferences, and relationship-building over cold solicitations.[17:21] Closing the right deal: Avoid deal fatigue, revisit your original thesis, and maintain discipline. A broad deal pipeline ensures better options.[20:38] Seth’s influences: Wall Street Journal, FRED economic data, trade magazines, and AI developments.[21:07] Connect with Seth on LinkedIn for further insights.To be added to the book waitlist, you can email alex.offer@raw-selection.comThank you for tuning in!Connect with Seth on LinkedIn here. To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to alex.rawlings@raw-selection.com

Richard Neff, a seasoned operator with a 25-year tenure at GE, shares his wealth of experience in private equity. He discusses the critical balance between ambitious plans and achievable goals, especially for $20M revenue businesses. Neff highlights the often-overlooked importance of investing in infrastructure and human capital. He also reflects on GE's structured approach to M&A and the lessons learned from navigating growth and financial crises, emphasizing strong investor-operator relationships as key to success.