The Private Equity Podcast, by Raw Selection

Guest: Greg Nieuwenhuys – PE Operator & Founder, Generative AI Strategy
Host: Alex Rawlings – CEO, Raw Selection

🔍 Episode Summary:

Greg Nieuwenhuys returns to share a practical, step-by-step AI Playbook for hiring. From writing job descriptions to automating follow-ups, Greg breaks down how PE firms and portfolio companies can integrate generative AI into recruitment. Packed with tools, tactics, and workflow tips, this episode is a must-listen for anyone looking to hire faster, smarter, and with less bias.

🕒 Key Timestamps:

00:00 – Intro & Why AI in Hiring Matters
Speed, accuracy, and competitive advantage in recruitment.

01:25 – Greg’s Background
CEO in multiple PE-backed firms; now leads Generative AI Strategy.

05:17 – Where AI Improves Hiring
From job specs to onboarding, AI supports every stage.

06:43 – Quick Wins

• Write job descriptions in minutes using ChatGPT
• Use AI note-takers for transcripts & summaries (e.g. Fireflies)
• Screen CVs faster & more objectively

09:58 – Tools Greg Uses
ChatGPT, Fireflies, Perplexity, Zapier, N8n

12:43 – Building Automation Without a People Team
Use Zapier or N8n to connect email, CRM, and AI tools.

14:35 – Custom GPTs & Human Oversight
Create consistent outputs and reduce manual work—always review.

18:25 – Using AI for Better Decision-Making
Compile notes, CVs, and feedback to spot gaps & flag concerns.

19:21 – Interview Coaching & Advanced Tools

• Assessio: Team chemistry prediction
• FinalRound AI: Candidate coaching tool
• Ovida: Feedback on communication style

23:06 – Better Candidate Outreach
Use AI to create relevant, personalized messages.

25:02 – Improve Candidate Experience with Automation
AI-written follow-ups, regular updates, CRM reminders.

27:55 – Greg’s AI Stack
ChatGPT, Gemini, Claude, Zapier/N8n, Fireflies, Perplexity

29:24 – AI Makes You a Better Human
Use tools like Ovida to improve interviewing skills & self-awareness.

💡 Takeaways:

• Start simple: job specs, summaries, feedback emails
• Don’t over-engineer—focus on solving real bottlenecks
• Train hiring managers with AI-generated insights
• Improve candidate experience with speed & clarity

📲 Connect with Greg:
LinkedIn – Greg Nieuwenhuys
🌐 www.thegregstar.com

Raw Selection partners with Private Equity firms and their portfolio companies to secure exceptional executive talent. We focus on de-risking executive recruitment through meticulous search and selection processes, ensuring top-tier performance and long-term success.

🔗 Connect with Alex Rawlings on LinkedIn https://www.linkedin.com/in/alexrawlings/
🌐 Visit Raw Selection www.raw-selection.com

Looking to grow your team? Check out our Hiring Guides

for proven strategies, templates, and best practices to make smarter hires. 

🎙️ The Private Equity Podcast – Mark Strauch, Founding Partner & President, Alpine Investors

⏱️ Key Takeaways & Timestamps:

00:00 – Intro
Alex welcomes Mark Strauch to discuss Alpine’s unique leadership-driven approach in private equity.

01:00 – From CEO to PE Leader
Mark shares his journey from operator to co-founding Alpine, now with $20B+ AUM.

02:08 – The Industry’s Problem: Lack of Differentiation
Alpine avoids the “deal shop” model, focusing instead on mission-driven, talent-led investing.

05:24 – Talent as Strategy
Alpine’s core philosophy: talent wins. Their “Unleashing Heroes” mantra puts leadership at the heart of every investment.

06:50 – Add-On Acquisitions at Scale
Over 1,000 deals to date, using each as an opportunity to deploy great talent and drive integration.

08:39 – Alpine’s Internal Playbook
Quarterly OFI (Opportunities for Improvement) projects, one-page strategic plans, and a long-term vision define how Alpine operates like a portfolio company.

10:59 – Lessons from Failure
Fund 1 struggled, prompting a shift to talent-first strategy during the 2008 crisis, guided by executive coach Tom Vacola.

15:00 – Building the CEO Bench
Programs like CEO-in-Residence and CEO-in-Training (CIT) bring in and develop top talent—Alpine is now the top recruiter at elite business schools.

18:31 – Attributes Over Resumes
They hire for grit, humility, and emotional intelligence—qualities highly correlated with CEO success.

20:00 – Real-Time Leadership Development
CITs train on the job with structured learning in both hard and soft skills, plus internal peer-learning pods.

24:00 – What Great CEOs Do
Traits include pace, clarity, resilience, focus, and the ability to inspire and win.

27:37 – Alpine’s Ongoing Constraint: Talent
Even now, talent remains the #1 priority across Alpine and its talent-constrained portfolio sectors.

30:47 – Lessons in Building Alpine
Create a strategy only you can win—play a different game, not the same one better.

32:38 – Operator Empathy = Better Investing
Being a former CEO helps Mark bring realism and focus to underwriting and board roles.

34:05 – Book & Coaching Insights
Recent reads include Boyd, The Bible, and classic philosophy. Coaching tip: great coaches help you unlock your own answers.

39:50 – Connect with Mark
💼 Alpine Investors

Raw Selection partners with Private Equity firms and their portfolio companies to secure exceptional executive talent. We focus on de-risking executive recruitment through meticulous search and selection processes, ensuring top-tier performance and long-term success.

🔗 Connect with Alex Rawlings on LinkedIn: https://www.linkedin.com/in/alexrawlings/

🌐 Visit Raw Selection: www.raw-selection.com

Looking to grow your team? Check out our Hiring Guides

for proven strategies, templates, and best practices to make smarter hires. 

In this episode, Alex Rawlings speaks with Amias Gerety, Partner at QED Investors, a leading fintech-focused VC firm managing nearly $1B in assets. Amias shares insights on venture capital strategy, staying disciplined during market hype, sourcing deals, and how lessons from his time at the U.S. Treasury shape his investment decisions today.

⏱ Episode Highlights:

00:00 – Intro & QED Overview
QED’s structure, fintech focus, and global reach.

01:20 – VC Mistakes & Market Hype
The danger of "paying ahead of growth," especially in AI.

03:12 – Staying Disciplined
Simple metrics and historical heuristics that guide better investment decisions.

04:39 – Deal Dynamics in VC vs PE
Why proprietary deal flow in VC means getting in early — before companies start raising.

07:26 – Hunting vs. Gathering
How QED targets specific companies instead of waiting for inbound deals.

08:51 – Building Relationships
Top-heavy structure means founders speak directly with partners on the first call.

14:43 – Using Senior Talent Early
Deploying high-value advisors like Capital One co-founder Nigel Morris from the start.

16:09 – Biggest Mistake in Venture
Ignoring founder misalignment — “If it’s a maybe, it’s a no.”

18:25 – CEO Ownership in Startups
Why QED avoids deals where founders don’t have control — unlike PE’s model.

20:43 – Operating Partners in VC
VC success comes from entrepreneurial operators who aim to join portfolio companies.

24:31 – Honest Career Advice
Be clear about whether you want to be an operator or an investor — ambiguity causes misalignment.

25:59 – Treasury Lessons
Decision-making under pressure during the financial crisis informs his bold, data-light approach in VC.

30:12 – What He Reads
Only old books — for timeless thinking and unexpected insights.

31:46 – Connect with Amias
Reach out via LinkedIn.

Amias offers a rare perspective bridging government, fintech, and venture capital — a must-listen for anyone navigating today’s competitive investing landscape.

Raw Selection partners with Private Equity firms and their portfolio companies to secure exceptional executive talent. We focus on de-risking executive recruitment through meticulous search and selection processes, ensuring top-tier performance and long-term success.

🔗 Connect with Alex Rawlings on LinkedIn: https://www.linkedin.com/in/alexrawlings/
🌐 Visit Raw Selection: www.raw-selection.com

Looking to grow your team? Check out our Hiring Guides

for proven strategies, templates, and best practices to make smarter hires. 

Episode Overview

In this episode, Alex Rawlings welcomes Michael Von Bevern, Co-Managing Director for Sunterra Fund Services, to discuss the evolving landscape of fund administration in private equity. Michael shares nearly two decades of experience, working with over 500 fund managers, and offers invaluable insight into common mistakes first-time managers make, the growing role of fund administration, and why outsourcing has become the gold standard for operational efficiency and investor confidence.

🔑 Key Discussion Points

00:00 – Introduction
Michael Von Bevern introduces his role at Sunterra Fund Services and his extensive background in fund administration.

01:00 – Common Mistakes First-Time Managers Make

• Trying to be overly creative with fund terms and waterfall structures.
• The importance of staying aligned with industry-standard terms in the first fund.
• Complexity can hurt comparability for institutional investors.

03:00 – The State of Capital Raising

• Capital raising is particularly tough right now.
• Institutional investors require clarity, standardization, and comparability.
• Advice: Stick to well-known structures and build trust first.

04:00 – Why Outsourcing Fund Administration is Crucial

• Fund administration has evolved from an internalized process to a norm for outsourcing.
• Early resistance was based on trust and control issues.
• Outsourcing offers scalability, access to high-end tech, and cost advantages.

06:30 – In-House vs. Outsourced Fund Admin

• Outsourced teams can mirror internal teams in quality and responsiveness.
• Modern fund admin is more than just accounting—it's a strategic enabler.
• Today, ~80% of PE firms outsource, up from 50% in 2016.

09:00 – Why Private Equity Firms Hire from Fund Admin Firms

• Fund admin professionals gain holistic knowledge: legal docs, accounting, operations, strategy.
• They're “multi-tools” vs. siloed specialists.
• Michael celebrates when former team members go on to run their own funds—and even become clients.

12:00 – What Makes a Gold Standard Fund Admin?

• Real-time access to quality data and timely reporting.
• Transparent, responsive communication.
• Strong tech + strong people = winning formula.

13:30 – The Shift Toward Data Accessibility

• Gone are the days of black-box reporting.
• Modern fund admins provide daily access and reconciliations.
• The focus now is on improving affordability and automation.

14:30 – Michael’s Recommendations

• Reads: Preqin, PitchBook, newsletters.
• Follows thought leaders like Howard Marks (Oaktree).
• Active in ILPA and New York's PE ecosystem.

16:00 – Market Trends Observed Through Fund Admin

• Fundraising in 2023-24 has slowed, with private credit outperforming PE.
• Saturation from 2021–22 launches is causing fatigue.
• Prediction: Q4 2025 to Q1 2026 will see a strong rebound in fundraising.

18:30 – How to Reach Michael

• Website: sunterra.com
• Open to DMs and happy to refer prospective clients even if Sunterra isn’t the best fit.

 🔗 Connect with Alex Rawlings on LinkedIn: [https://www.linkedin.com/in/alexrawlings/](https://www.linkedin.com/in/alexrawlings/) 🌐 Visit Raw Selection: [www.raw-selection.com](https://www.raw-selection.com) 

Looking to grow your team? Check out our Hiring Guides

for proven strategies, templates, and best practices to make smarter hires. 

In this episode, host Alex Rawlings is joined by Joe Basrawy, Managing Director at Partners Capital, a global multi-asset investment firm serving some of the world's most sophisticated investors — including private equity founders, endowments, and family offices.

Joe offers a rare and in-depth look at the Limited Partner (LP) perspective — covering common pitfalls private equity firms make, what LPs are really looking for, and how to stand out in a crowded market. He also shares a masterclass on co-investments, including how LPs assess alignment, avoid adverse selection, and punch above their weight in deal flow.

This episode is packed with actionable insights for fund managers, deal professionals, operating partners, and anyone looking to better understand what makes a top-performing PE firm in the eyes of institutional investors.

⏱️ Timestamps:

00:00 – Welcome and guest intro: Joe Basrawy, Managing Director, Partners Capital
01:00 – Joe’s background: From investment banking to multi-asset investing
01:25 – What drew Joe to Partners Capital and what’s kept him there
02:21 – Biggest mistakes PE firms and portfolio companies make
03:15 – Raising too much capital: Overstretching and going off-spec
04:13 – Deal-level diversification: What LPs want to see
05:39 – Co-investing 101: Why it's attractive and the risks of adverse selection
06:37 – How LPs like Partners Capital avoid adverse selection in co-investments
07:33 – Being a reliable and speedy co-investment partner
08:31 – Why LPs say “no” to co-investments — alignment, conviction, and deal partners
09:57 – Referencing employees and internal conviction in deals
10:56 – What makes the best private equity firms? Joe’s four pillars
11:25 – #1: Strategy differentiation – A case study in healthcare PE
13:22 – #2: Value creation edge – Organic growth vs market tailwinds
15:18 – #3: Ownership dynamics – How GP stake sales affect firm culture
17:15 – #4: People – Why leadership and succession planning matter
19:05 – Referencing portfolio executives: The most revealing feedback
20:28 – What LPs learn from talking to portfolio CEOs
21:56 – What LPs look for in fund managers – Discipline, detail, and passion
23:52 – Joe’s reading recommendations – Fiction and finance
25:47 – How to connect with Joe
26:17 – Outro from Alex

📘 Recommended Reading by Joe Basrawy:

• The Children Act by Ian McEwan (also a film adaptation with Emma Thompson)
• The Money Kings – History of Jewish-American families who founded Wall Street firms

🔗 Connect with Joe Basrawy:

• LinkedIn
  (search Joe Basrawy)
• Partners Capital Website

Looking to grow your team? Check out our Hiring Guides

 for proven strategies, templates, and best practices to make smarter hires. 

In this episode, Alex Rawlings is joined by Jeremiah Wanzell, a seasoned consumer brand executive with leadership roles at Hugo Boss and Calvin Klein, and now an operating partner working with private equity firms to drive growth in the consumer sector. Jeremiah shares his insights into the evolving role of the operating partner, value creation beyond financial engineering, the importance of omnichannel strategy, and how consumer-focused PE firms can win in a shifting market.

⏱️ Timestamps

00:03 – Intro & Background

• Jeremiah's career journey: from Bloomingdale’s to Hugo Boss & Calvin Klein
• Launching Growth Mindset Advisors to work with PE firms as a fractional growth officer

00:57 – Mistakes Private Equity Firms Make

• Misunderstanding or undervaluing the role of the operating partner
• Value creation needs real operators, not just consultants
• PE firms still testing the waters, especially in the lower/mid-market

03:44 – Why the Operating Partner Model Isn’t Universal Yet

• Too often operating partners are brought in post-acquisition — a critical mistake
• They need to be involved from the outset to shape value creation plans

05:12 – Case Study: Capizio Acquisition

• Deal thesis: investing in niche category leaders
• Brought the deal to Argonne after another firm passed
• Role: pre-deal diligence, channel expansion, post-deal advisory

07:07 – What Deal Teams Miss

• Overlooking multi-channel retail strategy
• Examples: Nike’s failed DTC push vs. Allbirds’ slow wholesale expansion
• Omnichannel is no longer optional

09:32 – Industry Shoutout: Grata

• Sponsor mention for proprietary, data-driven PE deal sourcing

09:58 – State of Consumer Deals

• Deal volume down 15% YoY, but deal size up
• Highlighted mega deals: Skechers ($9B), Dick’s x Foot Locker, Rode Beauty
• Hot sectors: health & wellness, beauty, and digitally native brands

11:27 – Tariffs & Pricing Strategy

• Tariff uncertainty is a headwind but affects all brands equally
• Brands must have clear differentiation and pricing transparency
• Examples: airlines as commoditized vs. a loyal landscaper who passed along cost savings

15:14 – Great Retail Experiences

• Retail “theater” matters more than ever
• Examples: Vuori, Lululemon, building community through in-store events
• It all starts with product excellence

17:32 – Evolution of DTC & Shopify’s Disruption

• Apple iOS14 killed third-party tracking; CAC skyrocketed
• Shopify commoditized eComm site creation → flooded market with undifferentiated brands
• Stubborn brands (e.g. Allbirds) suffered by not adapting

18:59 – Retail Experience Examples

• Retail must build community and be about more than transactions
• Brands that create loyalty through events and authentic connection win

19:51 – What Jeremiah Recommends

• Fan of The Private Equity Podcast and Scott Galloway
• Encourages reading, webinars, and giving back to your network

🔗 Connect with Alex Rawlings on LinkedIn: https://www.linkedin.com/in/alexrawlings/
🌐 Visit Raw Selection: www.raw-selection.com

Looking to grow your team? Check out our Hiring Guides

 for proven strategies, templates, and best practices to make smarter hires. 

🔹 Episode Overview:
In this episode, we’re joined by William Quartner, Partner at Prelude Growth Partners, a New York-based private equity firm dedicated to the high-growth consumer space. William shares insights from his impressive journey through investment banking and private equity at firms like Goldman Sachs and TowerBrook Capital, to now helping build Prelude Growth from its inception to the recent close of Fund III. He explores critical investment lessons, the importance of talent, consumer industry trends, and the real-life challenges and rewards of building a PE firm from the ground up.

00:00 – Intro to William Quartner  & Prelude Growth Partners

• William’s background: Goldman Sachs, TowerBrook, and JP Morgan
• Prelude’s focus: high-growth consumer sectors like beauty, health & wellness, pet, baby, and food/beverage
• Just closed Fund III – now managing $1.3B in AUM

02:24 – Common Mistakes in PE & Consumer Investing

• Misunderstanding the type of risk (product, category, brand, execution)
• Lack of clarity on risk-return profile per category
• Undervaluing the importance of top-tier talent in portfolio companies

05:18 – Evaluating Talent and Leadership

• Differences between a great founder/CEO and an average one
• Importance of building the right team early
• Partnership model: working closely with founders as a minority investor

07:41 – Passion for the Consumer Industry

• How deep focus and passion improve investment intuition
• Recognizing industry "tourists" vs committed insiders
• Benefits of building a tight, focused ecosystem

09:39 – Lessons from Goldman Sachs & TowerBrook

• Seeing institutional rigor and process
• Learning high-standard due diligence and underwriting
• Wanting to work up the risk curve and help build something from scratch

11:29 – The Startup Journey of Prelude Growth

• From $85M in Fund I (2018) to $600M in Fund III (2025)
• Early-stage scrappiness and challenges
• Most rewarding part: building a recognized brand and seeing portfolio companies become category leaders

16:55 – Current Consumer Industry Trends & Outlook

• Growth brands more insulated from macro headwinds
• Tariff uncertainty and its impact on planning
• Strategic reshuffling by large CPG players creating investment opportunities
• Concerns around consumer debt and buy-now-pay-later risks
• LP skepticism toward consumer-focused funds, but Prelude bucks the trend

20:35 – Content Recommendations

• Podcasts: Pivot (Kara Swisher & Scott Galloway), Acquired, SmartLess
• Business newsletters: Axios Pro Rata, Term Sheet
• Substack content for niche consumer insights

21:32 – How to Connect with William
📧 Email: [email protected]

🔚 Closing Thoughts:
William offers a masterclass in consumer investing; from risk frameworks and talent strategy to fundraising and sector specialization. His journey from major institutions to entrepreneurial investing highlights the power of clarity, conviction, and cultural fit in PE.

🔗 Connect with Alex Rawlings on LinkedIn: https://www.linkedin.com/in/alexrawlings/
🌐 Visit Raw Selection: www.raw-selection.com

 Looking to grow your team? Check out our Hiring Guides

 for proven strategies, templates, and best practices to make smarter hires. 

Guest: Greg Moran – Multi-exit founder, investor, and Managing Partner at Evergreen Mountain Equity Partners
Host: Alex Rawlings, Founder of Raw Selection

⏱️ Timestamps & Topics

00:00 – Introduction to Greg Moran
Alex welcomes Greg Moran, a multi-exit founder turned investor, and Managing Partner at Evergreen Mountain Equity Partners. Greg introduces his background in scaling businesses, raising $500M+ in capital, and his current focus on future-of-work technologies.

01:29 – Biggest Mistakes in Private Equity & Venture
Greg highlights two major missteps:

1. Private Equity: Disrespecting existing leadership and stripping company culture.
2. Venture Capital: Failing to deeply understand a founder's motivations under pressure.

03:51 – Behavioral Due Diligence: The Adaptive Innovator
Greg explains how Evergreen Mountain uses a proprietary founder archetype model based on studying 100+ founders with multiple 9-figure exits.
📘 Book: The Adaptive Innovator
🔬 Assessment Tool: theadaptiveinnovator.ai

06:11 – The Four Pillars of the Adaptive Innovator Model

1. Creative Resilience – Performing better under pressure
2. Balanced Risk-Taking – Small experiments lead to bold moves
3. Humble Assertiveness – Leading without being the loudest voice
4. Strategic Accountability – Owning failures and empowering teams

09:09 – How the Assessment Works
Greg walks through the free assessment's design—competency-based and situational judgment questions that help reveal how founders respond under real pressure.

11:37 – From Operator to Investor: The Shift
Greg discusses the personal challenge of moving from "solver" to "sounding board" and helping founders overcome small thinking and incrementalism.

15:01 – Scaling Requires Talent Transformation
Once you think bigger, the next hurdle is team capability. Greg discusses the importance of upgrading talent and how average hires dilute culture and repel A-players.

18:26 – “Hire Fire and the Walking Dead”
Greg's framework on talent management:

• Hiring is easy
• Firing the clearly bad is manageable
• The real issue? Keeping the “walking dead” – the average, inoffensive underperformers who drain momentum.

20:21 – Coaching Founders Through Tough Talent Calls
Greg explains his approach as an investor: gently keeping the conversation alive, helping founders reach the inevitable realization themselves.
🗣️ Anecdote: The "5-second hesitation test" from a former board member.

31:27 – Recommended Reading & Interests
📖 The Alchemist by Paulo Coelho – a yearly re-read for Greg
🎒 Outdoor adventure and Alaska documentaries (his son is a bush pilot)

32:52 – How to Connect with Greg Moran

• 🌐 Website: gregmoran.me
• 🧠 Assessment: theadaptiveinnovator.ai
• 💼 Fund: emep.io
• 🔗 LinkedIn: Greg Moran
• 📺 YouTube & X (formerly Twitter): Active channels for the docuseries and insights

🔗 Connect with Alex Rawlings on LinkedIn: https://www.linkedin.com/in/alexrawlings/
🌐 Visit Raw Selection: www.raw-selection.com

 Looking to grow your team? Check out our Hiring Guides

 for proven strategies, templates, and best practices to make smarter hires. 

🕒 Episode Timestamps & Show Notes

00:00 – Introduction
Alex welcomes John Dwyer, Founder of The Institute of WOW, to explore how direct response marketing can drive real results for private equity firms and their portfolio companies.

00:53 – What is WOW Factor Marketing?
John explains his flipped model: get prospects to try your product so they fall in love with your brand—not the other way around. 

02:16 – The Power of Incentives
Examples like McDonald’s Happy Meals and Kellogg’s cereal toys demonstrate how incentives remove focus from price. Yet, 97% of businesses still fail to use them effectively.

03:35 – B2B Application of Incentives
John shares how “freemium” strategies—like webinars and educational content—can help service businesses generate leads and build trust.

05:25 – The PE Blind Spot: Marketing
Marketing is often underutilized at the PE firm level. It’s left to portfolio companies and only becomes a priority at scale ($100M+ revenue). 

06:21 – Creating High-Value Content
Instead of always documenting, John recommends delivering structured, high-impact content like digital resources to demonstrate expertise and create authority.

08:36 – Giving Away IP to Build Trust
Sharing ideas freely (within reason) helps firms position themselves as experts. Private equity firms can do the same by publishing their value creation playbooks.

09:33 – Case Study: Dental Facebook Contest
A $30/day contest targeting parents of kids with crooked teeth generated 1,000+ leads in a week—demonstrating the power of a well-crafted incentive-based campaign.

12:43 – PE Deal Origination via Events
John recommends PE firms host webinars or in-person events to share their expertise and attract business owners—selling “once to many” like Tony Robbins.

14:11 – Thinking Beyond Traditional Marketing
John suggests PE firms partner with data providers or influencers to host educational events. Joint ventures and revenue-share models can scale reach efficiently.

17:27 – Turnkey Marketing & Strategic Partnerships
From travel vouchers to million-dollar contest giveaways, John shares how creative incentives combined with strong partnerships can produce scalable campaigns.

19:10 – Using AI for Lead Generation
John discusses how AI-powered voice bots deliver high-volume outreach, sharing relevant data like estimated home values—ideas that can inspire new B2B tactics.

21:57 – Hiring Great Marketers
John stresses the importance of case studies and results over resumes. Look for marketers who can think outside the box and prove success with real-world campaigns.

24:21 – Purple Cow Thinking in Action
A standout example: A building society offered free holidays for mortgage customers and later added Jerry Seinfeld to the campaign—resulting in billions in new loans.

26:42 – Books & Resources
John recommends The Purple Cow by Seth Godin. He prefers audio content and real-world business insights over fiction.

28:04 – How to Contact John
📩 Email: [email protected]
🌐 Website: theinstituteofwow.com

🔗 Connect with Alex Rawlings on LinkedIn: https://www.linkedin.com/in/alexrawlings/
🌐 Visit Raw Selection: www.raw-selection.com

 Looking to grow your team? Check out our Hiring Guides

 for proven strategies, templates, and best practices to make smarter hires. 

Episode Summary:
In this insightful episode, Alex Rawlings is joined by Brett Hickey, the CEO and founder of Star Mountain Capital. Brett shares his unique journey from humble beginnings in Northwestern Canada to leading a multi-billion-dollar asset management firm in the U.S. With deep reflections on leadership, value-based investing, building collaborative ecosystems, and what truly drives sustainable success in private markets, this is a masterclass in private equity thinking.

Brett also discusses the strategic opportunities in the U.S. lower middle market, the implications of aging demographics, his risk-aligned investment strategy, and the power of culture in scaling a firm. If you're looking to understand how to build a high-performing investment organization from the ground up—and what books, frameworks, and philosophies support that—this episode is essential listening.

⏱️ Episode Highlights & Time Stamps:

00:00 – Welcome and Introduction to Brett Hickey
00:41 – Overview of Star Mountain Capital and its focus on U.S. lower-middle market private credit, secondaries, and private equity
01:12 – Key mistake PE firms make: passive asset management vs. active value creation
03:08 – Aging demographics as a key investment opportunity
04:05 – Valuation arbitrage in lower middle market businesses
05:05 – Reflections on a possible downturn: macroeconomic risks and “air pockets”
07:59 – Aging populations and structural economic concerns
09:53 – The importance of cash flow and capital protection
10:21 – Brett’s entrepreneurial journey – from launching his first fund at 26 to building Star Mountain Capital
12:41 – The S-shaped growth curve and persistence through innovation
13:40 – Brett’s data-driven approach to strategy and decision making
15:35 – Why aging demographics and inefficient markets create opportunity
17:08 – Biggest challenge in building the firm: People
19:30 – Aligning team culture and expectations through transparency and shared values
20:57 – Why Star Mountain is 100% employee-owned – benefits and challenges
22:54 – Building trust and long-term alignment through ownership
24:45 – Observations on asset management failures and strategic missteps
25:44 – What is the Collaborative Ecosystem and how it drives results at Star Mountain
27:34 – How peer networks like EO and YPO influenced the firm’s internal culture
28:31 – Leveraging insights between secondaries and direct investments
29:59 – Case studies, adjusted EBITDA, and forensic underwriting
31:18 – Using real business alignment as a differentiator in competitive deal processes
33:13 – Recommended reading: Brett’s top books and content on leadership and execution
33:41 – Never Lead Alone by Keith Ferrazzi
34:37 – Agility by Leo Tilman and General Chuck Jacoby
36:54 – Harvard Business Review and Rob Kaplan’s work on leadership
38:48 – Principles by Ray Dalio and how it influences Brett’s thinking
39:18 – A practical tip: triangulating decisions with deep experts
41:13 – Final reflections on value investing, risk management, and staying grounded
42:09 – How to get in touch with Brett and Star Mountain Capital
42:38 – Wrap-up and takeaways from Alex

🔗 Connect with Alex Rawlings on LinkedIn: https://www.linkedin.com/in/alexrawlings/
🌐 Visit Raw Selection: www.raw-selection.com