In this episode, Jeff and Karl discuss: 

• Karl’s experience and lessons learned along the way to his current role as President and CEO of Emigrant Partners.

• Thinking about forms of liquidity and its relationship to private equity.

• The last ten years and what is coming up in the next ten years.

• Making your business more attractive to potential suitors.

Key Takeaways: 

• The vast majority of firms are not growing.

• It’s all relationship based. You need to invest in people.

• Be willing to bet on yourselves.

• Distribute equity and responsibility.

"When it comes down to decision making, those decisions are made by the people that built the business or are running the business and understand it most intimately, not by a private equity sponsor or a strategic partner who has designs of their own." —  Karl Heckenberg