The Private Equity Podcast, by Raw Selection

Niklas James, Founder of Minds Capital and a Harvard MBA with a Bain background, shares insights on how to differentiate in private equity beyond just being 'founder-friendly.' He emphasizes the power of storytelling and niche expertise in driving better deals. Niklas discusses using podcasting and LinkedIn for deal flow, explaining how media can enhance selectivity and transparency in sponsor assessment. With case studies illustrating successful investments, he reveals the strategic importance of valuing relationships and expertise in the investment landscape.

🎙️ The Private Equity Podcast — Episode with Cyril Aboujaoude, Co-Founder of TioPo CapitalIn this episode, Alex Rawlings is joined by Cyril Aboujaoude, Co-Founder of TioPo Capital, a hands-on private equity firm investing in SMEs across the UK and France. Cyril shares the journey of launching TioPo, their operationally driven approach to investing, and how young, entrepreneurial grit fueled their path from deal number one to a thriving portfolio.They explore the nuances of deal origination, value creation, and the power of people in private equity. From ERP frustrations to navigating downturns and structuring creative deals, Cyril breaks down the real-world lessons of building a firm from scratch—while staying laser-focused on operational excellence.⏱️ Timestamps:00:03 – Introduction to Cyril Aboujaoude and TioPo Capital’s mission 00:30 – TioPo’s founding story, operational mindset, and portfolio growth 01:24 – What TioPo really looks for beyond standard investment criteria 01:57 – The importance of vision alignment and execution capability 03:24 – How they assess management teams during diligence 04:35 – Why slow decision-making is riskier than a bad hire 05:29 – Biggest value creation levers: hiring an operating partner over fundraising 06:46 – Building a 100-day transformation plan post-deal 07:45 – One thing target companies should fix pre-investment: ERP systems 08:55 – How TioPo evaluates companies during downturns and market volatility 10:20 – Analyzing long-term performance and identifying macro-inflated businesses 12:51 – Most creative deal structure: partnering with the seller’s son as CEO 14:50 – Reflections on the challenges and naivety of doing their first deal 16:11 – Cyril’s top recommendations: FT, WSJ, Aswath Damodaran, and local gazettes 17:10 – How to connect with Cyril and learn more about TioPo Capital🔑 Key Takeaways:People over projections: Execution ability, humility, and shared vision are more important than just strategy.Operations-first philosophy: Value is built in the engine room—TioPo hires operating partners before fundraising staff.100-Day Plan Discipline: They begin value creation planning during diligence, long before Day 0.ERP readiness = smoother scale: ERP systems are the most overlooked growth barrier.Smart structuring builds trust: Their first deal involved bringing in the founder’s son as CEO and co-investor.Past ≠ future, but it’s all we’ve got: Cyril emphasizes analyzing 20+ years of company performance to identify real resilience.Raw Selection partners with Private Equity firms and their portfolio companies to secure exceptional executive talent. We focus on de-risking executive recruitment through meticulous search and selection processes, ensuring top-tier performance and long-term success.🔗 Connect with Alex Rawlings on LinkedIn: https://www.linkedin.com/in/alexrawlings/ 🌐 Visit Raw Selection: www.raw-selection.comLooking to grow your team? Check out our Hiring Guidesfor proven strategies, templates, and best practices to make smarter hires. 

In this engaging discussion, Greg Nieuwenhuys, a seasoned private equity operator and founder of Generative AI Strategy, shares his expertise on revolutionizing hiring through artificial intelligence. He breaks down a practical playbook for integrating AI into recruitment — from crafting job descriptions in minutes to automating follow-up communications. Greg also highlights essential tools like ChatGPT and Fireflies for reducing bias and speeding up hiring processes, along with tips for enhancing candidate experiences with timely updates. A must-listen for anyone in recruitment!

Mark Strauch, founding partner and president of Alpine Investors, shares insights on transforming private equity through a people-first strategy. He highlights the challenges in the industry, advocating for a focus on talent as a core asset. Strauch discusses their innovative CEO-in-Residence and CEO-in-Training programs, designed to cultivate future leaders. He reflects on lessons learned from early failures and the importance of adaptability, emphasizing that the right questions drive effective leadership and decision-making.

In this episode, Alex Rawlings speaks with Amias Gerety, Partner at QED Investors, a leading fintech-focused VC firm managing nearly $1B in assets. Amias shares insights on venture capital strategy, staying disciplined during market hype, sourcing deals, and how lessons from his time at the U.S. Treasury shape his investment decisions today.⏱ Episode Highlights:00:00 – Intro & QED Overview QED’s structure, fintech focus, and global reach.01:20 – VC Mistakes & Market Hype The danger of "paying ahead of growth," especially in AI.03:12 – Staying Disciplined Simple metrics and historical heuristics that guide better investment decisions.04:39 – Deal Dynamics in VC vs PE Why proprietary deal flow in VC means getting in early — before companies start raising.07:26 – Hunting vs. Gathering How QED targets specific companies instead of waiting for inbound deals.08:51 – Building Relationships Top-heavy structure means founders speak directly with partners on the first call.14:43 – Using Senior Talent Early Deploying high-value advisors like Capital One co-founder Nigel Morris from the start.16:09 – Biggest Mistake in Venture Ignoring founder misalignment — “If it’s a maybe, it’s a no.”18:25 – CEO Ownership in Startups Why QED avoids deals where founders don’t have control — unlike PE’s model.20:43 – Operating Partners in VC VC success comes from entrepreneurial operators who aim to join portfolio companies.24:31 – Honest Career Advice Be clear about whether you want to be an operator or an investor — ambiguity causes misalignment.25:59 – Treasury Lessons Decision-making under pressure during the financial crisis informs his bold, data-light approach in VC.30:12 – What He Reads Only old books — for timeless thinking and unexpected insights.31:46 – Connect with Amias Reach out via LinkedIn.Amias offers a rare perspective bridging government, fintech, and venture capital — a must-listen for anyone navigating today’s competitive investing landscape.Raw Selection partners with Private Equity firms and their portfolio companies to secure exceptional executive talent. We focus on de-risking executive recruitment through meticulous search and selection processes, ensuring top-tier performance and long-term success.🔗 Connect with Alex Rawlings on LinkedIn: https://www.linkedin.com/in/alexrawlings/ 🌐 Visit Raw Selection: www.raw-selection.comLooking to grow your team? Check out our Hiring Guidesfor proven strategies, templates, and best practices to make smarter hires. 

Episode OverviewIn this episode, Alex Rawlings welcomes Michael Von Bevern, Co-Managing Director for Sunterra Fund Services, to discuss the evolving landscape of fund administration in private equity. Michael shares nearly two decades of experience, working with over 500 fund managers, and offers invaluable insight into common mistakes first-time managers make, the growing role of fund administration, and why outsourcing has become the gold standard for operational efficiency and investor confidence.🔑 Key Discussion Points00:00 – Introduction Michael Von Bevern introduces his role at Sunterra Fund Services and his extensive background in fund administration.01:00 – Common Mistakes First-Time Managers MakeTrying to be overly creative with fund terms and waterfall structures.The importance of staying aligned with industry-standard terms in the first fund.Complexity can hurt comparability for institutional investors.03:00 – The State of Capital RaisingCapital raising is particularly tough right now.Institutional investors require clarity, standardization, and comparability.Advice: Stick to well-known structures and build trust first.04:00 – Why Outsourcing Fund Administration is CrucialFund administration has evolved from an internalized process to a norm for outsourcing.Early resistance was based on trust and control issues.Outsourcing offers scalability, access to high-end tech, and cost advantages.06:30 – In-House vs. Outsourced Fund AdminOutsourced teams can mirror internal teams in quality and responsiveness.Modern fund admin is more than just accounting—it's a strategic enabler.Today, ~80% of PE firms outsource, up from 50% in 2016.09:00 – Why Private Equity Firms Hire from Fund Admin FirmsFund admin professionals gain holistic knowledge: legal docs, accounting, operations, strategy.They're “multi-tools” vs. siloed specialists.Michael celebrates when former team members go on to run their own funds—and even become clients.12:00 – What Makes a Gold Standard Fund Admin?Real-time access to quality data and timely reporting.Transparent, responsive communication.Strong tech + strong people = winning formula.13:30 – The Shift Toward Data AccessibilityGone are the days of black-box reporting.Modern fund admins provide daily access and reconciliations.The focus now is on improving affordability and automation.14:30 – Michael’s RecommendationsReads: Preqin, PitchBook, newsletters.Follows thought leaders like Howard Marks (Oaktree).Active in ILPA and New York's PE ecosystem.16:00 – Market Trends Observed Through Fund AdminFundraising in 2023-24 has slowed, with private credit outperforming PE.Saturation from 2021–22 launches is causing fatigue.Prediction: Q4 2025 to Q1 2026 will see a strong rebound in fundraising.18:30 – How to Reach MichaelWebsite: sunterra.comOpen to DMs and happy to refer prospective clients even if Sunterra isn’t the best fit. 🔗 Connect with Alex Rawlings on LinkedIn: [https://www.linkedin.com/in/alexrawlings/](https://www.linkedin.com/in/alexrawlings/) 🌐 Visit Raw Selection: [www.raw-selection.com](https://www.raw-selection.com) Looking to grow your team? Check out our Hiring Guidesfor proven strategies, templates, and best practices to make smarter hires. 

Joe Basrawy, Managing Director at Partners Capital, provides an insightful dive into the Limited Partner (LP) mindset. He highlights common mistakes private equity firms make, like overfundraising and poor diversification. Joe shares essential strategies for successful co-investing, explaining how LPs avoid adverse selection and ensure alignment. With real-world examples, he outlines the four key pillars of top-performing PE firms: strategy differentiation, value creation, ownership dynamics, and strong leadership—all vital for attracting investor commitments.

Jeremiah Wanzell, a seasoned consumer brand executive and former leader at Hugo Boss and Calvin Klein, shares his expertise as an operating partner focused on consumer brand growth. He discusses the critical role of operating partners in private equity, emphasizing the need for them to be involved from the start of deals. Jeremiah highlights the importance of a strong omnichannel strategy and shares insights on the shifting consumer market, including notable case studies like Capizio. His perspective on value creation goes beyond finances, showcasing the power of real operators.

William Corner, a Partner at Prelude Growth Partners, shares insights from his impressive journey through Goldman Sachs and TowerBrook Capital, now focusing on high-growth consumer sectors. He discusses critical investment lessons, emphasizing the importance of understanding product and execution risks. William highlights the value of exceptional talent, distinguishing between great and average leaders. With a passion for the consumer industry, he explores the benefits of committed insights over being an industry 'tourist' while reflecting on successful strategies for private equity growth.

Greg Moran, a multi-exit founder and Managing Partner at Evergreen Mountain Equity Partners, shares his insights on the mindset of elite founders. He highlights key mistakes in private equity, such as underestimating leadership and culture. Moran introduces his proprietary archetype model, defining traits like creative resilience and strategic accountability that successful founders possess. He also discusses a free assessment tool aimed at helping founders demonstrate their abilities under pressure. This conversation merges practical investment tactics with an exploration of entrepreneurial psychology.