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Balancing Career Excellence, Impact, and Authenticity
Michelle Seitz is the Founder and CEO of MeydenVest Partners, an investment and strategic advisory firm that partners with businesses within the technology, healthcare, and financial services sectors who are aiming to solve important problems. Prior to founding MeydenVest, Michelle was the Chair and CEO of Russell Investments and CEO of William Blair Investment Management. First, we explore the mission and strategy of MeydenVest by looking at how Michelle aims to create value and impact in her investments. Next, we dive deeper into the role that investment firms should play in providing a social impact through their investments. After this, Michelle shares some of the advice that she gives to CEOs as a CEO mentor and explains some of the skills and qualities that make not only a good investor but also a good leader and manager. Finally, Michelle provides guidance to young professionals on balancing career success with making an impact through your work and prioritizing personal values, such as family and community involvement.
The Art and Science of Consumer Investing
Mike Mauzé is a Founder and Partner at VMG Partners, a leading investment firm that backs visionary consumer products and technologies. First, we discuss some of the most important considerations before starting your own private equity fund and explore the sacrifices and benefits involved. Next, Mike elaborates on the art and science of consumer investing, offering insights for aspiring investors to master both aspects. Following this, he outlines the consumer trends VMG is monitoring and how the firm aims to capitalize on these opportunities. Lastly, Mike shares his perspective on the qualities of an ideal private equity professional and offers advice to students and young professionals embarking on a career in this field.
Solving Global Issues Through Investing
Sean Davis is the founder of and a managing director at Merton Capital Partners, which is a US-based investment firm that specializes in creating efficient vehicles to deploy large-scale philanthropy. First, we chat about how Sean’s experiences living abroad opened his eyes to the need for philanthropy giving and take a look at the major issues that Sean addresses in his book “Solving the Giving Pledge Bottleneck.” Next, we take a deep dive into the structure of Merton’s investment philosophy and compare it to typical structures of venture capital and private equity firms. We also analyze some of the projects that Merton is currently working on and how they are making tangible impacts in the communities that they invest in. Finally, we end our conversation by hearing Sean’s opinions on some of the biggest social issues plaguing the world today.
Creating Value in an Unstable Economy
Russell Steenberg is a 40-year veteran in the private equity industry and is transitioning from his role as a managing director and the global head of the BlackRock’s Private Equity Partners business to serve as Chairman for the business. First, we discuss the challenges Russell faced and the lessons he learned throughout the process of building and leading BlackRock’s PEP into its current form. Next, we take a look at some of the important qualitative traits and quantitative metrics that Russell considers when making investments. We also talk about current trends in private equity and how investors can take advantage of these trends. Finally, we wrap up our conversation by talking about how current macroeconomic conditions are affecting private equity and how investment professionals that have experienced market cycles will have to step up to weather the impending economic storm.
Investing from an Operational Perspective
Richard Dresdale is a senior managing director at Jefferson River Capital, which is a small family office private equity firm that invests across a number of industries including in industrial and healthcare businesses. First, we talk about Richard’s long and distinguished career in private equity, including his involvement in starting a middle-market private equity firm called Fenway Partners and his current role at Jefferson River Capital. Next, we dive into Richard’s perspective on the value and benefits that having operational experience can have when it comes to private investing. Richard also breaks down the structure and typical roles that make up a private equity firm and provides advice and insights that he has gained from his many years in private investing. Finally, we finish off our conversation by discussing the recent popularity of private equity investing for individual family offices.
Work and Life in Private Equity
Sara Gilson is a principal at Freeman Spogli & Co., a middle-market PE fund based in Los Angeles with an industry focus in the consumer and distribution sectors. During our conversation, we first take a look at the lessons Sara learned during her experiences in investment banking as well as the benefits she gained by attending Harvard Business School. Next, we dive into the unique investment approach and board structure utilized at Freeman Spogli. Finally, we wrap up with a discussion of work-life balance and the challenging but rewarding experience of being a mother in finance.
Breaking into Private Equity Right Out of College
Tom Daly is an analyst at Great Point Partners, a healthcare private equity fund based in Greenwich, CT that invests across all sectors of the healthcare industry. Tom is a recent graduate of Notre Dame, where he started a gamified learning platform called “TD3 Innovative Gaming” and also worked in M&A at Evercore in the Investment Banking division during his junior year summer. As private equity firms have become more open to recruiting straight out of college, we talk to Tom about the journey he took to secure a private equity job directly after graduating and his advice on what college students and young professionals can be doing now to break into private equity. Tom also provides insight into the healthcare private equity industry as a whole and some of his favorite players within the industry.
The Evolution of Private Equity & Guiding Companies through the Recent Market Downturn
Thomas Hagerty is a managing director at Thomas H. Lee Partners, a Boston-based private equity firm investing in the Financial Technology & Services, Healthcare, and Technology & Business Solutions sectors. We chat about Thomas’s 30+ years at THL and the evolution of private equity from when he started in the industry in 1988 until today. For instance, we discuss increased competition, the globalization of PE, and the rise of sector specific funds. Thomas also gives us astute insights into the current market contraction and how businesses should navigate these turbulent times. We wrap up with some life advice on making it in the business world.
Healthcare Private Equity
Chris Smith is a Director at GTCR, a leading private equity firm based in Chicago focused on investing in growth companies. In this conversation, we discuss the firm’s investment philosophy and the Leaders Strategy in which GTCR finds and partners with management teams in core domains to identify, acquire, and build market leading companies. We then do a deep dive on the rise of value based care in the healthcare industry and the opportunities to invest in this revolutionary trend. Chris also walks us through the impact of healthcare regulation on deal dynamics as well as his personal decision to forgo business school after his first two years in private equity.
Sales Excellence at Insight Partners
Travis Kassay is an Executive Vice President in the Sales Center of Excellence at Insight Partners, a leading global private equity and venture firm with over $90 billion in assets under management. Travis explains the role of the Insight Onsite Team to help guide portfolio companies in product & tech, marketing, sales, talent, business development, and more. Specifically, we discuss the key ways in which Travis helps Insight’s portfolio companies in the areas of sales and customer success. Travis breaks down some of the best tactics to scale a sales organization at a growing software company and maintain alignment between different divisions of an organization. We also dive into the Travis’ role in sales due diligence on investment deals and what characteristics Insight Partners looks for when making an investment.
Lessons from a Storied Career in Private Equity
Thomas Franco is a veteran of the private equity industry and currently leads fundraising at Clayton, Dubilier, & Rice (CD&R), one of the largest and oldest private equity firms in the world. Tom provides incredible insight on his journey into the private equity world, the rise of CD&R in the early days of the industry, and lessons learned from leading fundraising for over 15 years. We also discuss CD&R’s investment strategy and focus on operational value-add, alongside the rise of specialization within the private equity space. We conclude with a conversation on the role his liberal arts education had on his successful career and advice for those interested in finance.
Media, Entertainment & Communications Private Equity
Mike LaSalle is a Partner of Shamrock Capital Advisors, a Los Angeles based investment firm with a rich history of investing in the media, entertainment and communications sectors. He has a wealth of experience in the industry and has served on the board of companies like FanDuel, Harlem Globetrotters International, and Excel Sports Management. On this episode, we discuss the key investment strategies of the firm and how investing in the entertainment and media space differs from other spaces like industrials or consumer. Mike provides amazing perspective from his time on the board of directors at FanDuel, including how they predicted growth in the market given regulation dynamics and what Mike sees as the biggest opportunities in sports going forward. Finally, we wrap up with a discussion on Shamrock Capital’s content fund, the rise of streaming, music as an alternative asset class, and the firm’s acquisition of rights to Taylor Swift’s music for $300 million.
Sourcing & Technology Growth Equity
Matthew Nash is a Senior Associate at Silversmith Capital Partners, a Boston-based growth equity firm with $2.0 billion of capital under management. During our conversation with Matt, we discuss his path from investment banking to growth equity and his transition from a largely prescriptive role to a more entrepreneurial one. We walk through a day in the life of a young professional at a growth equity firm, including sourcing and speaking with founders of transformational technology businesses. Matt also describes what he looks for in a potential investment, his interest in SaaS & Information services, and his thoughts on the strategies deployed by new entrants into the growth equity space.
The Private Equity Deal Process
Matt Roesch is a Vice President at HGGC, a leading middle market private equity firm. HGGC is based in the Bay Area, has $5.6 billion in cumulative capital commitments, and has completed over 300 portfolio investments. During our conversation, Matt discusses his motivation to pursue a career in private equity and perspective on his decision to forgo business school after his completing his associate stint. We also walk through the types of investments HGGC focuses on and the primary strategies the firm deploys to help its portfolio companies succeed. Finally, we do a deep dive on the private equity deal process, including sourcing, due diligence, investment proposals, offer letters, and post transaction dynamics.
Opportunistic Investing at Sixth Street Partners
Brian D’Arcy is a Partner at Sixth Street, a global investment firm managing over $60 billion in assets. He joins the show to discuss his journey in the world of finance and Sixth Street’s unique investment philosophy. We cover how Sixth Street capitalizes on the flexibility of its mandate, explore the process of sourcing deals aligned with investment themes, and dive into the firm’s investments in the San Antonio Spurs and avocado farms. Brian also provides an overview of his role in leading the Capital Formation & Strategy Group and what he finds fulfilling about his career. We wrap up with a conversation on time management, leadership styles, and culture building within a firm.
What is Middle Market Private Equity?
Alex, Conor, and Chris, chat with Elias Dokas, a Managing Director within Midocean Partner’s private equity investing arm. Elias Dokas began his career working with Morgan Stanley in their LBO group and transitioned to work for Blackstone before moving to his current role. Elias gives insight into how Midocean Partners differs in its operations from a mega PE firm like Blackstone and his ultimate motivation behind transitioning from a mega PE fund to a middle market fund. Additionally, Elias provides perspective on the conflicts that may exist between portfolio companies and private equity investors and how investors can enhance the operations and risk preparation of portfolio companies given Midocean’s experience working through COVID-19.
Private Equity Secondaries
On this episode, we speak with Kevin Dunwoodie, a Partner in Pantheon’s Global Secondaries Investment Team. We discuss what the private equity secondaries market is, the value proposition for buyers and sellers, and the key drivers of returns for a secondaries fund. We also dive into the way in which secondaries markets have reacted to recent financial crises and the evolution of GP-led secondary transactions.
Private Investing - From the Top
In this episode we speak with Peter Bell. Peter is the Chairman at Amity Ventures, a VC and PE firm investing in "category defining" technology companies, and the CEO of Epiphany Technology Acquisition Corporation, a SPAC targeting technology companies. Peter's career began in entrepreneurship and has led him to private investing. Peter has a unique view on making private investments and his firm invests across various stages from early stage VC to late stage SPAC investments and buyouts. We discuss Peter's decision-making process, fund strategy and investment strategy, and SPAC deal structure and management. Listen to learn from his stories.
Growing Money - Notre Dame’s Way
We are joined by Scott Malpass who served as the Chief Investment Officer for Notre Dame’s endowment, growing it from $400 million to over $12 billion. We discuss the strategies and practices that allowed Notre Dame’s investment office to achieve amazing long-term returns on its endowed capital. Specifically, Scott gave his thoughts on asset managers and how to find good ones, the University’s role in private investing, and acting as a co-investor for world-class private equity firms. Scott’s wisdom on long-term investing is unparalleled, don’t miss this episode.
Capital Markets & Private Equity
Doug Brody, a Managing Director at KKR, joins the show to discuss his career in capital markets and the basics of private equity. Doug outlines the process of finding and making deals, the structure of leveraged buyouts, and how private equity firms leverage operational efficiencies and financial engineering to create attractive returns. We also discuss common PE exit strategies and how KKR responded to the pandemic to ensure the health of its portfolio companies.