"The lower middle market is the last bastion of alpha in private equity," declares Whit Matthews, managing director at HighVista Strategies, in this conversation with host Jon Finger. Tracking roughly 500 active independent sponsors and seeing 350+ actionable co-investments yearly, Whit reveals how HighVista identifies managers with "a specialized reason to win" in today's challenging fundraising landscape. He emphasizes transparency as the cornerstone of successful partnerships and offers practical wisdom for emerging managers navigating liquidity constraints in the private equity ecosystem.

☑️ Whit Matthews | LinkedIn

☑️ HighVista Strategies | LinkedIn

☑️ Jon Finger | LinkedIn

☑️ McGuireWoods | LinkedIn | Facebook | Instagram | X I YouTube

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This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information, or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

Angel Fierro, managing partner of Aiga Capital Partners, joins host Jon Finger for a conversation about how emerging fund managers can make an impact in specialty lending areas such as energy transition. Aiga Capital Partners provides private debt and preferred equity solutions to North American-based sustainable infrastructure developers. Sharing his own journey, Angel encourages new managers to bring fresh ideas to the market and persevere when facing obstacles. “It takes a great deal of work and some sleepless nights, but know that, in the end, it's worth it,” he says.

☑️ Angel Fierro | LinkedIn

☑️ Aiga Capital Partners | LinkedIn

☑️ Jon Finger | LinkedIn

☑️ McGuireWoods | LinkedIn | Facebook | Instagram | X I YouTube

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This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information, or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

After the financial crisis of 2008-09, a phenomenon unfolded: “mega-funds” of several billions and more, putting larger check sizes to work for larger companies.. 

ACME Credit Partners, an investment advisor, reaches an entirely different market. Smaller, nimble, and lean, ACME targets the lower middle market direct lending segment that is underserved and not as competitive – and an attractive risk-return strategy. In this conversation with host Jon Finger, ACME’s Peter Eschmann, managing partner, and Liz Veilleux, senior vice president and head of capital formation and investor relations, describe why this niche market is attractive for investors.  

☑️ Peter Eschmann | LinkedIn

☑️ Liz Veilleux | LinkedIn

☑️ Jon Finger | LinkedIn

☑️ McGuireWoods | LinkedIn | Facebook | Instagram | X I YouTube

☑️ Subscribe Apple Podcasts | Spotify | Amazon Music | YouTube 

This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information, or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

Impact investing is different from ESG in that ESG is what you don't do, what you don't invest in. Impact investing, however, is what you affirmatively and intentionally do.

In this episode of Fund Flow, host Jon Finger speaks with guest Jim Roth, the founder and managing partner of Zamo Capital, an impact investor based in London. Jim was also the co-founder of Leapfrog Investments and is currently a member of the Investment Committee of the University of Edinburgh Endowment. 

Tune in to hear Jon and Jim discuss strategies and approaches in the impact investment space, including current drivers and finding untapped market opportunities. 

☑️ Jim Roth | LinkedIn

☑️ Zamo Capital | LinkedIn | Facebook

☑️ Jon Finger | LinkedIn

☑️ McGuireWoods | LinkedIn | Facebook | Instagram |  Twitter/X I YouTube

☑️ Subscribe Apple Podcasts | Spotify | Amazon Music | YouTube 

This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information, or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

The best returns come from businesses that mix purpose and profit and don’t compromise on either.

In this episode of Fund Flow, host Jon Finger speaks with Jake Capps, the co-founder and managing partner of Meaningful Partners, a value-based investment company focused on purposeful businesses. With over two decades of experience investing in private equity, Jake shares how he eventually came to start his own firm, what it takes to build a sustainable consumer business, and his guiding belief that purpose and profit go hand in hand.

Tune in to learn how Jake brings together purposeful businesses, aligned with an expert community, to create value for all stakeholders. 

☑️ Jake Capps | LinkedIn 

☑️ Meaningful Partners | LinkedIn

☑️ Jon Finger | LinkedIn

☑️ McGuireWoods | LinkedIn | Facebook | Instagram |  Twitter/X I YouTube

☑️ Subscribe Apple Podcasts | Spotify | Amazon Music | YouTube 

This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information, or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

After working as a consultant during the global financial crisis and holding various positions at investment management firms, Heather Fernstrom Border and her partner, Jennifer Stevens, launched Alliance Global Advisors. Alliance is a women-owned consulting firm focused on developing strategic solutions for real asset investment managers. Alliance provides an informed, independent perspective, plus continued education and an innovative approach to attract capital in a competitive market environment.

On this episode of Fund Flow, Heather joins host Jon Finger to share how Alliance works with clients, her predictions for major trends in the marketplace, and how giving back through mentorship can make all the difference.

Tune in to hear more from Heather about how Alliance Global Advisors is helping investment managers gain the competitive edge.

Name: Heather Fernstrom Border

What she does: Heather is a co-founder and managing partner of Alliance Global Advisors. For more than two decades, Heather has been a real asset professional building deep Limited Partner and Consultant networks. 

Organization: Alliance Global Advisors

Connect: LinkedIn

Connect with us on Facebook, Twitter, Instagram, YouTube.

Subscribe to Fund Flow in your preferred podcast app so that you never miss an episode. 

This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information, or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action. 

On this episode of Fund Flow, host Jon Finger talks with Elizabeth Weindruch (Liz), managing director at Barings, about building lasting relationships with the emerging manager community. When looking for GP partners, Liz seeks those with experience, value alignment and an element of differentiation in their investment strategy.

“You can no longer buy low, sell high, or buy a business and slap a few terms of debt on it and sell in a few years and make a profit,” Liz explains. “There's got to be some level of differentiation to your approach. You need that differentiation to win when you're competing to buy a business, then you also need it to be able to come in and create value.”

Liz shares advice for emerging managers on the different channels they can use to build relationships and expand their network. She recommends meeting as many people as possible and showing up at key events and conferences to maintain those relationships. Later in the episode, Liz explains how her firm approaches diversity and discusses trends to watch over the next 12 months.

Name: Elizabeth Weindruch

What she does: Liz is a member of Barings’ Diversified Alternative Equity team and is responsible for originating and underwriting funds and co-investments in North America and Latin America. Prior to joining the firm in 2015, she was at the Wells Fargo Investment Institute, where she led the strategy, due diligence, implementation, and support efforts for private equity and private real estate products across the alternative investments platform. She also held various private equity roles at Citi Private Bank, Brooke Private Equity Associates, and Investor Group Services. Liz has a B.A. in Political Science from Davidson College.

Organization: Barings

Connect: LinkedIn

Connect with us on Facebook, Twitter, Instagram, YouTube.

Subscribe to Fund Flow in your preferred podcast app so that you never miss an episode. 

This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information, or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

On this episode of Fund Flow, McGuireWoods’ Jon Finger sits down with Chad Summe, founder and managing partner at eGateway Capital, to discuss the changes brought by digitization and artificial intelligence, as well as how to build solid relationships with investment partners. 

“We all come from a lot of different experiences and backgrounds that contribute to the impact that we can make on our companies,” says Chad of his team. “But the common DNA at eGateway is to be of service in an impactful way to our partners.” 

At eGateway Capital, the team has its own M&A advisory services, an offering Chad believes is needed to best serve their portfolio companies. He sees M&A as an opportunity for companies to accelerate growth through strategic acquisitions. 

Chad and Jon discuss the lasting impacts of the pandemic on e-commerce and how these trends will affect future investments. Chad sees companies being more intentional in looking at their entire organizational structures, making conscious changes to embrace digital, and reinforcing their supply chain to prepare for the future. 

Name: Chad Summe

What he does: Chad is a Founding and Managing Partner at eGateway Capital. Before eGateway, he was Chief Operating Officer and Chief Strategy Officer for a fast-growing, publicly-held technology company. He also worked at Procter & Gamble, leading strategy and brand marketing in their Baby Care division. Chad began his career in the U.S. Navy’s Submarine Force. Chad graduated with Honors with a B.S. in Economics from the United States Naval Academy, and an MBA from Duke University’s Fuqua School of Business. Chad is eager to learn, loves to fly fish, and has a passion for volunteerism.

Organization: eGateway Capital

Connect: LinkedIn

Connect with us on Facebook, Twitter, Instagram, YouTube.

Subscribe to Fund Flow in your preferred podcast app so that you never miss an episode. 

This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information, or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

On this episode of Fund Flow, McGuireWoods’ Jon Finger sits down with Andy Lee, founder and chief investment officer of Parallaxes Capital, the first firm to focus exclusively on monetizing tax receivable agreements as an investment strategy. Andy wanted to establish a firm that wasn’t afraid to think differently and take a long-term view on investments.

“We're not going to capture your run-of-the-mill investor. We're very focused on finding early adopters and demonstrating, and ultimately achieving, results for them,” Andy says. “We've not tried to raise scaled funds, not because we can’t. It's more so for us [that] each fund has given us the avenue through which we are able to solve a different problem set each time.”

Jon and Andy discuss how tax receivable agreements work, why they’re valuable, and how Andy built a fund focused on them. They also discuss what general partners need to consider when choosing to partner with limited partners, based on Parallaxes Capital’s approach to investments, and how finding LPs has changed from fund to fund.

Name: Andy Lee

What he does: Andy is the founder of Parallaxes Capital. Previously, he was with Lone Star Funds, focused on investing in the Americas. He began his career at Citigroup. He graduated from the University of Illinois at Urbana-Champaign with a Bachelor’s in Finance and Accountancy and a Master’s in Accountancy. Andy has been featured in publications including Capital Allocators, Institutional Investor, NBC, Forbes (as part of the 2020 Class of 30 under 30), ReOrg Radio, and Fitch’s LevFin Insights.

Organization: Parallaxes Capital

Connect: LinkedIn

Connect with us on Facebook, Twitter, Instagram, YouTube.

Subscribe to Fund Flow in your preferred podcast app so that you never miss an episode. 

This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information, or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.

On this episode of Fund Flow from McGuireWoods, host Jon Finger sits down with William [Billy] Prather, founding partner and Chief Investment Officer of Cypress Creek Partners, to discuss market opportunities for emerging managers, what makes the Cypress Creek team successful, and building bridges with LPs. 

Billy had his first taste of the emerging market space at Blackrock and UTIMCO. These early experiences shaped his vision when founding Cypress Creek Partners. He intended it to be a firm focused on building long-term relationships.  

“Nobody has a crystal ball. Nobody knows that they're going to get to that ultimate vision. But having that shared vision directionally is important,” Billy says, describing one of the most important factors in choosing a partner. The other important quality in a partner is a clear willingness to listen and learn. After all, you can’t teach someone who already thinks they know everything.

Billy provides advice to GPs looking to fundraise in today’s environment. He likes to see partners who are on the same page and who have a shared agreement of what runway is acceptable. When vetting partners, it’s important to not lose sight of what matters — finding great LPs and great new investments. More experienced GPs can market themselves based on their current LPs and their rapport in the industry. 

During this episode, Billy shares his views on how Cypress Creek finds success, what he looks for in strong emerging managers, and trends he sees for upcoming partnerships. With a focus on the long-term, Billy also provides his outlook on the five to 10 year forecast for emerging managers, including increased expenses to run a firm and new opportunities for spin-outs. 

Name: William [Billy] Prather

What he does: William is the Founding Partner & Chief Investment Officer at Cypress Creek Partners. He has over 15 years of investment experience across global private and public markets with over $4 billion invested. 

Organization: Cypress Creek Partners

Connect: LinkedIn

Connect with us on Facebook, Twitter, Instagram, YouTube.

Subscribe to Fund Flow in your preferred podcast app so that you never miss an episode. 

This podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information, or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.