Ken Hersh, energy entrepreneur and current CEO of the George W. Bush Presidential Center, shares his unconventional journey from liberal arts major to pioneering a whole new industry in energy private equity. From early business failures and bold pivots to investing with Richard Rainwater and creating Natural Gas Partners, Ken breaks down the highs, lows, and lessons learned. He also dives into public policy, the evolution of America’s energy landscape, and the fine line between good ideas and good investments.

In This Episode

[00:00] Intro: Who is Ken Hersh?

[01:07] Early Days and Business Plan Origins

[02:00] Founding NG Partners in a Pre-Private Equity World

[05:00] Resilience, Background, and the Fastest Tortoise

[07:30] Education, Princeton, and Finding His Own Path

[10:00] Morgan Stanley, Energy Markets, and Breaking In

[13:00] The Fortuitous Call from Richard Rainwater

[16:00] Bold Moves and Moonlighting with McKinsey

[20:00] Birth of Natural Gas Partners and First Investments

[24:00] Pivoting Strategy When the Market Shifted

[28:00] Betting on People vs. Assets

[30:00] What Makes a Good Founder?

[34:00] Investing Philosophy and Risk Alignment

[36:00] The Energy Transfer Home Run

[41:00] Mentorship from Richard Rainwater

[45:00] Reflections on Energy Policy and Public Perception

[50:00] U.S. Energy Independence and Shale Revolution

[55:00] The Realities of Energy Transition and Clean Tech

Resources Mentioned

• The Fastest Tortoise by Ken Hersh

• Natural Gas Partners (NGP Energy Capital)

• George W. Bush Presidential Center 

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Editing and Support by The Good Podcast Co.