The retail capital wave entering private equity is one of the most significant structural shifts in the asset class in a generation. Mass affluent investors who were historically excluded from private...
The energy transition story in private equity has been dominated by a category that captures the imagination but represents a small fraction of where the actual capital needs to flow. Climate tech, de...
Most value creation frameworks are lists. Five levers, seven pillars, ten plays. They are satisfying to read, easy to present, and they fail in the same way every time.
They tell you what you could d...
For most of the past decade, defense and defense-adjacent technology sat in the exclusion column of mainstream private equity. The reasoning was familiar. ESG screens flagged the category. LPs preferr...
Most private equity portfolio company boards are performance theatre. The format is familiar. A monthly or quarterly meeting. A management presentation that tracks against the value creation plan. A d...
The most important relationship in any private equity portfolio company is between the operating partner and the CEO. It is more important than the relationship between the deal partner and the CEO, m...
Most operating partners intervene before they diagnose. They arrive at a portfolio company with a playbook in their head, a set of standard interventions they have run successfully before, and a presu...
Practice private equity like a pilot trains
