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Why Frazier & Deeter Walked Away From Lucrative Deals


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Private equity portco CEO Jeremy Jones uses cultural alignment for due diligence in private equity — not financials — as the first filter in every acquisition. The result: Frazier & Deeter has grown from 530 to 850 people in seven months through three deals, with a fourth closing next week.

Jones walks through the three-year decision process behind the firm's partnership with General Atlantic, why his CPO sat in all 25 to 30 PE meetings and called HR counterparts at existing portfolio companies, and what the first 24 hours post-acquisition actually looks like for employees who found out the night before. He also addresses the hardest question in people-first PE strategy: is culture a trade-off against financial performance, or the operating system that produces it?

For PE operating partners, portfolio company CEOs, and leaders navigating acquisition, organizational design, and AI workforce strategy.


00:00 The Journey of Due Diligence in Private Equity

09:47 Cultural Alignment in Acquisitions

16:30 Day One Post-Acquisition

23:56 Defining Success Beyond Financials


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