Private Equity Podcast: Karma School of Business

In this insightful episode of the Karma School of Business Podcast, special guest host Rena Frackt, Managing Director and Head of Client Coverage at BluWave, engages in a profound conversation with Doron Grosman, a seasoned figure in the private equity landscape. Grosman, known for his roles as a serial CEO, private equity operating partner, and investor, shares his journey through the evolving world of private equity, venture capital, and angel investing. With a career that spans leading businesses in both public and private domains and holding significant positions in companies with EBITDA ranging from 50 to 500 million, Grosman brings a wealth of experience and knowledge to the table.

Episode Highlights:

• 01:01 - Doron Grosman's Diverse Career Journey

• 02:25 - Influencing and Guiding Management Teams

• 04:45 - Challenges of Leading as a Private Equity CEO

• 06:39 - The Role of Board Engagement in Private Equity

• 08:37 - Leveraging Board Positions for Strategy and Governance

• 11:45 - Overcoming Challenges in Private Equity

• 15:08 - Essential Skills and Experiences for Private Equity Success

• 20:15 - Final Thoughts and Advice for Aspiring Private Equity Professionals

For more information on Doron, go to www.linkedin.com/in/dorongrosman

For more information on BluWave and this podcast, go to www.bluwave.net/podcasts

Join us for this episode as Doron Grosman shares invaluable lessons from his extensive experience in private equity, offering listeners a roadmap to mastering leadership, value creation, and strategic governance in the high-stakes world of investment.

Please subscribe to the Karma School of Business Podcast for more episodes like this, and don't hesitate to leave us a review if you find our content valuable. Stay tuned for our next episode, where we continue to explore key elements of business success in the realm of private equity.

In this engaging episode of the Karma School of Business Podcast, host Sean Mooney, founder and CEO of BluWave, sits down with Curt Kahn, Investor and Head of US Operations at Livingbridge. Curt shares his unconventional journey into the private equity world, starting from consulting roles at Booz Allen and PricewaterhouseCoopers to an operational leadership position at Ability Network, and finally, to pioneering Livingbridge's expansion into the US market.

Episode Highlights:

• 01:15 - Curt's Non-Traditional Route to Private Equity - Curt discusses his initial career in consulting and M&A advisory, leading to his operational experience at Ability Network and his transition to Livingbridge.

• 03:29 - Adapting to Private Equity from an Operating Role - Insights into Curt's adjustment to private equity and how his diverse background influences his approach to investments.

• 05:54 - Curt's Personal Passion: Paddle Tennis - Curt reveals his interest in paddle tennis, showcasing a side of him outside the professional realm.

• 08:19 - Key Traits for Successful Investments - Curt outlines the crucial factors he looks for in companies, emphasizing the importance of team, customer satisfaction, and scalability.

• 13:40 - Livingbridge's Approach to Value Creation - An exploration of how Livingbridge supports portfolio companies through its unique value strategy group and functional expertise.

• 17:49 - Navigating the 'Washing Machine Economy' - Curt discusses thematic value creation opportunities amid fluctuating economic conditions and the importance of data science in driving business outcomes.

• 21:54 - Advice to Curt's Younger Self - Curt reflects on the value of embracing uncomfortable situations early in one's career to pave the way for success.

For more information on Livingbridge, go to www.livingbridge.com .

For more information on Curt, go to www.linkedin.com/in/curt-kahn-611a3b9.

For more information on BluWave and this podcast, go to www.bluwave.net/podcasts .

This episode delves into the multifaceted career of Curt Kahn and his strategic contributions to Livingbridge, a middle-market private equity fund with a global footprint. Curt's journey highlights the importance of adaptability, the power of leveraging diverse experiences, and the critical role of team dynamics in driving investment success. With a focus on backing ambitious entrepreneurs and ensuring customer satisfaction, Curt shares insights into Livingbridge's approach to value creation, emphasizing the significance of scalability and data science in enhancing portfolio companies' growth.

Please subscribe to the Karma School of Business Podcast for more insightful episodes like this. Leave us a review if you find our content valuable and stay tuned for our next episode, where we continue to explore key elements of business success in the realm of private equity.

In this insightful episode of the Karma School of Business Podcast, host Sean Mooney, founder and CEO of BluWave, engages in a fascinating dialogue with Grant Korman, Partner at Align Collaborate. As innovators within the private equity sector, both Sean and Grant share their unique journeys of creating segments that previously didn't exist, offering a deep dive into the challenges and triumphs of entrepreneurial spirit within the industry.

Episode Highlights:

• 2:04 - Grant's Origin Story - From his formative years at Georgetown to an inspiring encounter that led him into the world of private equity, Grant recounts his early experiences and the entrepreneurial ventures that shaped his career.

• 4:07 - The Leap into Private Equity - Grant shares his unconventional path into private equity, bypassing traditional routes to dive headfirst into the industry right out of college, and the learning curve that accompanied this bold move.

• 8:11 - Evolving into an Independent Sponsor - The journey from Sterling Partners to becoming an independent sponsor with NCK Capital, exploring the challenges and serendipity involved in raising capital deal by deal.

• 14:45 - Creating Align Collaborate - The genesis of Align Collaborate, born from a desire to provide a more structured and supportive equity solution for independent sponsors in the lower middle market.

• 23:16 - The Growth of the Independent Sponsor Market - Grant discusses the factors contributing to the rise of the independent sponsor model and how Align Collaborate positions itself within this evolving landscape.

• 32:30 - Interplay Between Align Collaborate, Independent Sponsors, and Portfolio Companies - Understanding the dynamics of partnership and support that Align Collaborate offers to independent sponsors and their portfolio companies.

• 34:13 - Thematic Investment Opportunities - Grant outlines the investment themes and opportunities that Align Collaborate is currently exploring, with a focus on businesses with strong core attributes and potential for growth.

• 35:18 - Grant's advice to his younger self - make your own luck.

For more information on Align Collaborate, go to www.aligncollaborate.com

For more information on Grant, go to www.linkedin.com/in/grant-kornman-120305

For more information on BluWave and this podcast, go to www.bluwave.net/podcasts

Join us for a riveting discussion that traverses Grant Korman's remarkable journey from a young, ambitious entrepreneur to a key player in shaping the private equity industry. This episode is a must-listen for anyone interested in the intricacies of finance, the transformative impact of private equity, and the stories of industry veterans who've played a crucial role in shaping today's investment landscape.

Please subscribe to the Karma School of Business Podcast for more episodes like this, and don't hesitate to leave us a review if you find our content valuable. Stay tuned for our next episode, where we continue to uncover the critical elements of business success in the realm of private equity.

In this engaging episode of the Karma School of Business Podcast, Sean Mooney, founder and CEO of BluWave, sits down with Eric Hansen, a partner at Blue Sea Capital and a significant figure in the development of the middle market within the private equity industry. This conversation offers an in-depth look at Eric's unconventional journey from the private debt sector to his influential role in private equity, along with the insights and experiences that have shaped his career.

Episode Highlights:

• 01:34 - Eric's Unique Path into Finance - Eric shares the story of his early life in Peoria, Illinois, his initial career aspirations, and the series of roles that led him to establish Antares Capital and later join Blue Sea Capital.

• 06:29 - Founding of Antares Capital - Eric recounts the creation of Antares Capital, its pioneering approach to private credit, and the strategic vision that drove its success.

• 09:23 - Innovations in Private Credit - Discussion on the innovative financing solutions introduced by Antares, including sponsor-focused lending and the development of the Unitranche loan structure.

• 15:41 - Transition to Blue Sea Capital - Eric talks about his decision to retire, the interim consulting period, and what ultimately led him to accept a partner role at Blue Sea Capital, focusing on industrial growth.

• 25:05 - Value Creation at Blue Sea Capital - Learn about Blue Sea Capital's approach to driving growth in portfolio companies, including the development of an executive network and leveraging strategic acquisitions.

• 31:06 - Eric's Personal Reading Recommendations - Eric shares his personal reading preferences, emphasizing the importance of leisure reading alongside professional studies to stimulate different parts of the brain.

For more information about Blue Sea Capital, go to www.blueseacapital.com.

For more information about Eric Hansen, go to www.linkedin.com/in/eric-hansen510.

For more information about BluWave and this podcast, go to www.bluwave.net/podcasts.

This episode is a treasure trove of insights for anyone interested in the dynamics of finance, the transformative impact of private equity, and the career trajectories of industry veterans who have significantly influenced today's investment landscape.

Please subscribe to the Karma School of Business Podcast for more episodes like this, and leave us a review if you find our content valuable. Stay tuned for our next episode, where we continue to uncover the critical elements of business success in the realm of private equity.

Dive into the transformative world of private equity in this insightful episode of the Karma School of Business Podcast, featuring Kevin McAllister, the visionary Founder and Managing Partner at Access Holdings. Honored as BluWave's 2024 Private Equity Innovator of the Year, Kevin discusses the innovative strategies that propel Access Holdings to industry leadership.

Episode Highlights:

[00:01:22] - Exploring the Access Acceleration Center - Kevin provides a glimpse into their high-tech private equity office, where technology and data analytics drive value creation.

[00:10:28] - Evolution from Fundless Sponsor to Market - Learn about the growth trajectory of Access Holdings and the strategic vision that guided their rise to prominence.

[00:20:38] - Commitment to Corporate Citizenship - Kevin delves into how Access Holdings embeds social responsibility into their ethos, aligning business success with community impact.

[00:30:01] - Fueling Growth and Employment - A conversation on the targeted growth strategies Access Holdings employs to support their portfolio companies and stimulate job creation.

[00:37:53] - The Culture of Learning and Innovation - Kevin speaks on the importance of nurturing a learning environment that encourages innovation and keeps the firm agile in a competitive landscape.

To learn more about Access Holdings, go to https://www.accessholdings.com

To learn more about BluWave's 2024 Top Private Equity Innovator Awards, and Access Holdings as our Innovator of the Year, go to https://www.bluwave.net/awards

To learn more about Kevin McAllister, go to https://www.linkedin.com/in/kevin-mcallister-5979347

To learn more about BluWave and this podcast, go to https://www.bluwave.net/podcast

Key Insights & Takeaways:

In this episode, Kevin McAllister shares a wealth of knowledge on how Access Holdings' commitment to research, technology, and data analytics has redefined their approach to private equity. Listeners will learn about the importance of selecting markets with persistent tailwinds and the strategic deployment of resources to build competitive advantages within portfolio companies. Kevin also emphasizes the significance of corporate social responsibility, not just as a mandate, but as a core component of building a sustainable and successful business. By focusing on job creation and supporting Main Street America, Access Holdings exemplifies how private equity can be a force for positive economic change. Furthermore, Kevin's insights into fostering a culture of continuous learning underscore the firm's ability to remain at the cutting edge of private equity innovation. Enjoy!

Join the Karma School of Business Podcast, as host Sean Mooney sits down with Tim Schulte, Partner at Council Capital, to explore the nuanced world of private equity and the art of business growth. Tim's diverse background, from consulting to startups, has shaped his approach to value creation and investment in the healthcare sector.

• 1:37 - From History Major to PE Partner: Tim Schulte's Unique Journey

• 8:41 - Key Traits for Investment: Council Capital's Market-Team-Company Framework

• 12:46 - Value Creation: Council Capital's Collaborative and Respectful Approach

• 19:41 - Innovating PE Deal Sourcing: Executive in Residence and AI Tools

• 23:58 - Life Lessons from Literature: Tim's Influential Book Recommendations

For more information on Council Capital, go to www.councilcapital.com .

For more information on Tim Schulte, go to www.linkedin.com/in/timothyrobertschulte.

For more information on BluWave and this podcast, go to www.bluwave.net/podcast .

In this enriching episode, Tim delves into the significance of market selection, the power of teamwork, and the strategic role of company potential in achieving long-term success. He also sheds light on Council Capital's CEO Council, Executive in Residence program, and their forward-thinking use of AI to streamline the investment process. Beyond business acumen, Tim shares personal insights, including his commitment to community through Nashville Classical and his affectionately earned nickname. He also offers book recommendations that provide profound reflections on life's finite resources and the importance of balancing wealth, health, and time. Join us for a conversation that not only charts Tim Schulte's path through the financial sector but also imparts actionable wisdom for business builders and investors alike. Whether you're a seasoned PE professional or an entrepreneur seeking growth, this episode is filled with valuable takeaways and inspiring ideas for the future.

In this must-listen episode of the Karma School of Business Podcast, host Sean Mooney is joined by Erica Blob, Partner at Brighton Park Capital, for an insightful discussion that delves into the intricate world of growth-stage investing. Erica brings a wealth of experience from her dynamic journey through the finance sector, from investment banking to her pivotal role at Brighton Park Capital, where she focuses on nurturing high-potential growth-stage companies.

Erica shares her transition from the fast-paced environment of capital markets to the operational side of e-commerce at Walmart.com, and how this experience shaped her nuanced understanding of what it takes to drive a company forward. Her return to investment banking during the tumultuous period of 2007 set the stage for a decade working with two of the investment world's most influential Steves - Steve Cohen and Steve Klinsky - where she honed her investment philosophy and developed a deep appreciation for building transformative businesses.

The conversation takes a turn to explore the creation of Brighton Park Capital, where Erica and her team are redefining the private equity landscape by combining operational expertise with an entrepreneurial spirit to support growth-stage companies. They discuss the firm's commitment to transparency and partnership with their LPs, offering them real-time insights into the performance and potential of their investments.

Erica also provides a glimpse into the current strategic initiatives at Brighton Park Capital, highlighting the importance of M&A opportunities, offshoring for talent acquisition, and the transformative impact of AI on software development productivity. She emphasizes the significance of experienced, low-ego entrepreneurs and the value of operational executives in scaling businesses from tens to hundreds of millions in revenue.

Listeners will walk away with a mini-MBA's worth of knowledge as Erica distills her approach to identifying operationally excellent companies, the intricacies of value creation, and the critical role of customer-centricity. Her personal anecdotes, including a unique travel life hack involving a sleep-inducing pillow, add a relatable touch to the discussion.

Tune in for an engaging and educational conversation that not only charts Erica Blob's path through the financial sector but also offers actionable insights into the strategies that are propelling Brighton Park Capital and their portfolio companies to new heights.

• 1:38 - Erica's path to private equity including learning from some industry legends

• 14:14 - The challenges and triumphs of establishing Brighton Park Capital during the pandemic

• 20:01 - Key traits Brighton Park Capital looks for in growth-stage companies and their strategic approach to fostering operational excellence 30:54 - An innovative approach to engaging with Limited Partners, emphasizing transparency and real-time information sharing

• 34:24 - The current thematic focuses for value creation within the portfolio, including M&A, offshoring for talent, and leveraging AI for software development productivity

• 42:16 - A life-hack for frequent travelers

For more information on Brighton Park Capital, go to www.bpc.com

For more information on BluWave and this podcast, go to www.bluwave.net/podcasts

The private equity landscape is teeming with stories of transformation and success, but few are as gripping and inspiring as that of Andrew Joy, Partner at Hidden Harbor Capital Partners. In this episode of the Karma School of Business Podcast, host Sean Mooney engages in an in-depth conversation with Andrew, whose life story is a profound testament to resilience, tenacity, and the indomitable human spirit.

Andrew shares his remarkable journey from a tumultuous childhood marked by family criminality and personal tragedy, including a life-threatening injury, to his academic triumphs and eventual ascent in the world of private equity. His narrative is not just a personal chronicle but an illustration of the power of perseverance and the importance of focusing on controllable factors in life.

Throughout the episode, Sean and Andrew explore the philosophies that have shaped Hidden Harbor Capital Partners' approach to investment. They delve into the firm's emphasis on operational excellence and the critical role of employee satisfaction and engagement in driving a company's success. Andrew's insights into the value of incremental progress, the significance of aligning with the right team, and the essence of strategic execution provide invaluable lessons for business leaders and private equity professionals alike.

Listeners will also gain perspective on how Hidden Harbor Capital Partners navigates the current economic climate, emphasizing cash discipline and the challenges of the evolving labor market. Andrew's candid reflections on the fallacies of "get rich quick" narratives and the irreplaceable value of hard work are a refreshing counterpoint to the often glamorized world of business and investing.

Join us for this compelling episode that not only charts Andrew Joy's unique path to private equity but also offers practical wisdom on building and nurturing successful businesses in a complex and ever-changing market.

• 2:27 - Andrew's background including a pivotal, life-altering incident

• 7:30 - Education as a turning point

• 17:15 - Focusing on what one can control in life and business

• 24:09 - Hidden Harbor's strategy for identifying and creating value in portfolio companies

• 34:28 - The discussion on how employee satisfaction metrics inform investment decisions

• 42:42 - The ultimate life hack

For more info on Hidden Harbor Capital Partners, go to www.hh-cp.com For more info on BluWave and this podcast, go to www.bluwave.net/podcast

Dive into the future of private equity with host Sean Mooney on the Karma School of Business Podcast, as he analyzes the industry's trajectory, reflecting on 2023 and forecasting the trends of 2024. This episode is a must-listen for professionals eager to grasp the transformative events of the past year and the strategic moves shaping the next growth cycle. Sean combines BluWave's proprietary data with macroeconomic indicators to suggest we are on the cusp of a new era of expansion, potentially lasting six to eight years. The discussion revisits the accuracy of previous predictions, including the resilience of the economy, the VC bubble's burst, and the shift back to in-person work.

Sean then lays out his predictions for 2024, forecasting an uptick in M&A activity and strategic selling by private equity firms. He also identifies the rise of data scientists as key players in the industry, essential for harnessing large data sets and driving informed investment decisions. To cap off the episode, Sean examines potential wildcards that could sway the economic landscape, from geopolitical tensions to oil price volatility and shifts in consumer behavior. These insights are invaluable for private equity professionals looking to chart a successful course through the market's complexities and capitalize on emerging opportunities.

• 1:42 - Identifying the bottom of the cycle and predicting growth

• 3:10 - 2023 in review: Value creation and tech advancements

• 8:00 - Reviewing our 2023 predictions and their outcomes

• 15:17 - Strategic moves in private equity for 2024

• 21:28 - Potential disruptors to the 2024 economic outlook

To request your copy of the Q4 2023 Private Equity Insights Report, go to www.bluwave.net/insights-report

For more information on BluWave and this podcast, go to www.bluwave.net/podcast

The private equity landscape is replete with opportunities for those who dare to take the leap, and this episode of the Karma School of Business Podcast is a testament to that very notion. Join host Sean Mooney as he engages in a captivating dialogue with Suzanne Yoon, the Founder and Managing Partner of Kinzie Capital. Suzanne's journey from the daughter of Korean immigrants to a trailblazing leader in private equity is not just inspiring—it's a masterclass in resilience and strategic innovation.

In this conversation, Suzanne divulges the formative experiences that shaped her entrepreneurial spirit, from her childhood in a family-owned deli to her transformative career moves that led to the inception of Kinzie Capital. She and Sean explore the nuances of value creation in the lower middle market, the impact of technology on traditional businesses, and the importance of fostering a growth mindset within management teams. Listeners will gain invaluable insights into Kinzie Capital's unique approach to driving growth, underscored by their trademarked formula that synergizes capital, operational excellence, and technology. Additionally, the discussion delves into the imperative of cash management and the transformative potential of an effective operating system, as exemplified by Gino Wickman's "Traction."

Suzanne's reflections on leadership, her commitment to diversity in the private equity space, and her candid advice to her younger self round out a conversation that is as enlightening as it is motivating. Whether you're a private equity veteran or an aspiring entrepreneur, this episode offers profound lessons on navigating the complexities of business growth and personal development.

• 1:39 - Suzanne's background and path to private equity

• 8:47 - The decision to start Kinzie Capital

• 21:54 - Identifying key traits of successful companies

• 31:29 - Kinzie Capital's formula for value creation

• 41:23 - Suzanne's advice to her younger self

• 47:02 - Implementing "Traction" within Kinzie Capital

Don't miss this deep dive into the heart of private equity innovation with Suzanne Yoon.

Tune in to discover how embracing change and harnessing the right resources can lead to unparalleled success in the dynamic world of private equity.