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E387: Where Alpha Hides in Private Equity | Josh Adams
What if the best private equity opportunities are hiding inside businesses that everyone else thinks are too complicated to touch?
In this episode, I sit down with Josh Adams, Partner at OpenGate Capital, to discuss why complexity has become one of the firm's greatest competitive advantages. Josh explains how OpenGate built a specialization around corporate carve-outs, why Europe offers more inefficiency than North America, and how operational improvements drive value creation in today's market. We also discuss sourcing, specialization, alignment, decision-making, and why focus has become increasingly important as private equity continues to evolve.
Highlights:
Guest Bio:
Josh Adams is a Partner at OpenGate Capital, where he is responsible for origination, execution, fundraising, and firm management, and serves as a member of the firm's Investment Committee. Since joining OpenGate in 2012, he has helped build the firm into one of the leading specialists in complex corporate carve-outs across Europe and North America. Prior to OpenGate, Josh was a Vice President at Platinum Equity, leading the firm's European business development efforts from London. He began his career as an accountant and is a member of the Association of Chartered Certified Accountants (ACCA).
Are you interested in sponsoring an episode? Please email David Weisburd at [email protected].
We’d like to thank AlphaSense for sponsoring this episode!
Sponsor:
AlphaSense is the AI-powered market intelligence platform trusted by 85% of the S&P 100, helping investment professionals make faster, more confident, data-driven decisions. Built for hedge funds, asset allocators, private venture capital firms, and investment bankers, AlphaSense uses advanced AI and powerful search across premium proprietary content to surface the insights that matter most—before the market moves. Elevate your research and stay ahead of the competition. Visit https://www.alpha-sense.com/howiinvest/ to learn more.
Stay Connected with David Weisburd:
X/Twitter: @dweisburd
LinkedIn: https://www.linkedin.com/in/dweisburd/
Weisburd Pierce: https://www.weisburdcapital.com/
Stay Connected with Josh Adams:
LinkedIn: https://www.linkedin.com/in/joshua-m-adams-70602126/
Questions or topics you want us to discuss on How I Invest? Email us at [email protected].
Disclaimer:
This podcast is for informational purposes only and does not constitute investment, financial, legal, or tax advice. Nothing in this episode should be interpreted as an offer to buy or sell any securities or to participate in any investment strategy. All opinions expressed by the host and guests are their own and do not represent the views of Weisburd Pierce. Participants may hold positions or have financial interests in the companies, funds, or investments discussed. Any references to specific investments are for illustrative purposes only. Investing involves risk, including the potential loss of capital. Past performance is not indicative of future results, and any forward-looking statements are subject to risks and uncertainties. Any third-party data or opinions have not been independently verified. Listeners should conduct their own research and consult their own advisors before making any investment decisions.
(0:00) Why Europe Has Become a Bigger Opportunity Than the U.S.
(1:30) The Alpha Hidden Inside Complex Corporate Carve-Outs
(5:22) How a $30,000 401(k) Became a Billion-Dollar Firm
(10:15) The Sourcing Strategy That Wins Deals Before Auctions Begin
(15:22) Why Speed and Certainty Beat Bigger Funds
(21:01) The Real Reason Platinum Equity Keeps Winning
(23:29) Is Private Equity Quietly Turning Into Asset Management?
(26:54) Why Smaller Funds Could Outperform for the Next Decade
(30:40) The Alignment Test Every GP Should Pass
(32:48) The Career Lesson That Compounds More Than Capital
View all episodes
By David Weisburd
4.5
9696 ratings
What if the best private equity opportunities are hiding inside businesses that everyone else thinks are too complicated to touch?
In this episode, I sit down with Josh Adams, Partner at OpenGate Capital, to discuss why complexity has become one of the firm's greatest competitive advantages. Josh explains how OpenGate built a specialization around corporate carve-outs, why Europe offers more inefficiency than North America, and how operational improvements drive value creation in today's market. We also discuss sourcing, specialization, alignment, decision-making, and why focus has become increasingly important as private equity continues to evolve.
Highlights:
Guest Bio:
Josh Adams is a Partner at OpenGate Capital, where he is responsible for origination, execution, fundraising, and firm management, and serves as a member of the firm's Investment Committee. Since joining OpenGate in 2012, he has helped build the firm into one of the leading specialists in complex corporate carve-outs across Europe and North America. Prior to OpenGate, Josh was a Vice President at Platinum Equity, leading the firm's European business development efforts from London. He began his career as an accountant and is a member of the Association of Chartered Certified Accountants (ACCA).
Are you interested in sponsoring an episode? Please email David Weisburd at [email protected].
We’d like to thank AlphaSense for sponsoring this episode!
Sponsor:
AlphaSense is the AI-powered market intelligence platform trusted by 85% of the S&P 100, helping investment professionals make faster, more confident, data-driven decisions. Built for hedge funds, asset allocators, private venture capital firms, and investment bankers, AlphaSense uses advanced AI and powerful search across premium proprietary content to surface the insights that matter most—before the market moves. Elevate your research and stay ahead of the competition. Visit https://www.alpha-sense.com/howiinvest/ to learn more.
Stay Connected with David Weisburd:
X/Twitter: @dweisburd
LinkedIn: https://www.linkedin.com/in/dweisburd/
Weisburd Pierce: https://www.weisburdcapital.com/
Stay Connected with Josh Adams:
LinkedIn: https://www.linkedin.com/in/joshua-m-adams-70602126/
Questions or topics you want us to discuss on How I Invest? Email us at [email protected].
Disclaimer:
This podcast is for informational purposes only and does not constitute investment, financial, legal, or tax advice. Nothing in this episode should be interpreted as an offer to buy or sell any securities or to participate in any investment strategy. All opinions expressed by the host and guests are their own and do not represent the views of Weisburd Pierce. Participants may hold positions or have financial interests in the companies, funds, or investments discussed. Any references to specific investments are for illustrative purposes only. Investing involves risk, including the potential loss of capital. Past performance is not indicative of future results, and any forward-looking statements are subject to risks and uncertainties. Any third-party data or opinions have not been independently verified. Listeners should conduct their own research and consult their own advisors before making any investment decisions.
(0:00) Why Europe Has Become a Bigger Opportunity Than the U.S.
(1:30) The Alpha Hidden Inside Complex Corporate Carve-Outs
(5:22) How a $30,000 401(k) Became a Billion-Dollar Firm
(10:15) The Sourcing Strategy That Wins Deals Before Auctions Begin
(15:22) Why Speed and Certainty Beat Bigger Funds
(21:01) The Real Reason Platinum Equity Keeps Winning
(23:29) Is Private Equity Quietly Turning Into Asset Management?
(26:54) Why Smaller Funds Could Outperform for the Next Decade
(30:40) The Alignment Test Every GP Should Pass
(32:48) The Career Lesson That Compounds More Than Capital
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