KARMA SCHOOL OF BUSINESS PODCAST

The Business Builders’ Podcast

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PE Firms PE-Backed Companies Private and Public Companies
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Private Equity
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Due Diligence Prep For Sale Value Creation

Episode 048

Private Equity Spotlight: Overcoming Adversity with Andrew Joy of Hidden Harbor

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

PE Firms
CEOs
Value Creation

Episode 047

Private Equity Predictions: Tackling 2024’s Opportunities and Challenges

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

PE Firms
CEOs
Due Diligence

Episode 046

Suzanne Yoon, Kinzie Capital | Charting the Course of Value Creation in Private Equity

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.

PE Firms
CEOs
Value Creation

Episode 045

Emily Holdman, Permanent Equity | The Art of Lasting Partnerships in Private Equity

The private equity industry won't want to miss this insightful episode of the Karma School of Business Podcast, as host Sean Mooney welcomes Emily Holdman, Managing Director at Permanent Equity. Emily shares her unconventional route into the private equity world, highlighting the importance of diverse on-ramps into the industry. With a background in journalism and economics, Emily's story is a testament to the evolving landscape of private equity, where varied experiences and perspectives are shaping the future of the field.

Emily and Sean delve into the philosophy behind Permanent Equity, a firm that prides itself on long-term investments and partnering with successful companies that can thrive independently. They discuss the significance of team dynamics, operational excellence, and the strategic stewardship that nurtures systemic health and compounding growth in portfolio companies.

Listeners will gain an understanding of how Permanent Equity's approach to value creation is actively reshaping the private equity narrative, prioritizing long-term sustainability over short-term sprints. The conversation also touches on the importance of agility and seizing opportunities, even amid challenging economic climates.

Emily's personal anecdotes reveal her as a voracious reader and a proponent of community building within the private equity space. She extends an invitation to listeners to connect and engage with her and the Permanent Equity team, emphasizing the power of less formal, more relational interactions in the industry.

Join us for a compelling discussion that not only provides a glimpse into Emily Holdman's unique journey to private equity but also offers valuable insights into the strategic and relational shifts occurring within the industry.

2:01 - Diverse paths into private equity
6:38 - The long-term approach to private equity
11:40 - Identifying successful companies
17:13 - Investing in and growing leadership teams
23:50 - Active investment and operational partnership
30:57 - Leveraging flexibility and opportunity during change
37:08 - Emily's book recommendation

For more information about Emily and Permanent Equity, go to www.permanentequity.com.
For more information about BluWave and this podcast, go to www.bluwave.net/podcast.

PE Firms
CEOs
Due Diligence

Episode 044

What I Wish I Knew: Private Equity Leaders’ Advice to Their Younger Selves

In this reflective episode of the Karma School of Business Podcast, we gather pearls of wisdom from seasoned private equity veterans and business builders as they share the advice they would give their 22-year-old selves. With insights that span from embracing resilience to the power of authenticity, this episode is a guidebook for both personal and professional growth.

Join host Sean Mooney and the BluWave team as they delve into these transformative lessons that transcend time, providing guidance for the next generation of business leaders and anyone eager to refine their path to success.

1:49 - Andy Greenberg, GVC: "Just Say Yes"
4:43 - Ed Hine, Line 5 Capital: Get Comfortable Being Uncomfortable
7:45 - Matt Cole, SBJ Capital: Embrace the Journey
10:07 - Scott Phillips, Orix Capital Partners: Resilience in Tough Times
13:01 - Cici Zheng: Everything Will Be Okay
16:33 - John Huhn, Compass Group Equity Partners: Persistence Pays Off
19:20 - Brian Adams, Excelsior Capital: Own Assets Early
22:19 - Mohit Kansal, Clairvest: Skill Development Focus
23:35 - Marshall Phelps, MidOcean Partners: Invest in Relationships
26:09 - Devin Mathews, ParkerGale Capital: Be Authentically You

For more information on BluWave and each of these episodes, go to www.bluwave.net/podcast.

PE Firms
CEOs

Episode 043

Business Builders’ Bookshelf: Essential Reads for Strategic Success

In this special episode of the Karma School of Business Podcast, we bring you a curated list of impactful book recommendations from our esteemed private equity industry guests, offering a wealth of knowledge to enhance your strategic thinking and personal growth.

1:34 – Author Nick Shaw's poignant and insightful "My Teacher, My Son," is a book that promises to transform your perspective on life and leadership
My Teacher, My Son: https://www.amazon.com/My-Teacher-Son-Lessons-Life/dp/B0CH7F5MGW

5:06 - Dive into the intricacies of technological advancements with Managing Partner Scott Estill's picks, "Chip Wars" by Chris Miller and "AI 2041" by Kai-Fu Lee and Chen Qiufan
Chip Wars: https://www.amazon.com/Chip-War-Dominate-Critical-Technology/dp/B09TX24J5Y/
AI 2041: https://www.amazon.com/AI-2041-Ten-Visions-Future/dp/B08SFL53HL/

9:50 - Gain historical business insights from private equity operating partner Joe DeLuca’s favorite, “The Making of the Atomic Bomb” by Richard Rhodes.
The Making of the Atomic Bomb: https://www.amazon.com/Making-Atomic-Bomb-Richard-Rhodes/dp/1451677618

13:00 – Entrepreneur and attorney Scott Becker emphasizes the significance of team building with “Good to Great” by Jim Collins and the importance of health and longevity with “Outlive” by Peter Attia.
Good to Great: https://www.amazon.com/Good-to-Great-Jim-Collins-audiobook/dp/B003VXI5MS/
Outlive: https://www.amazon.com/Outlive-Longevity-Peter-Attia-MD/dp/0593236599/

16:25 – Private equity partner John Kirk reminds us of the power of collective success over individual correctness through “Us” by
Terrence Real
Us: https://www.amazon.com/Us-Getting-Build-Loving-Relationship/dp/B09BBN9LGW/

19:48 – PE operating partner Brit Yonge explores the sovereignty of choice in Viktor Frankl’s “Man’s Search for Meaning.”
Man’s Search for Meaning: https://www.amazon.com/Mans-Search-for-Meaning-audiobook/dp/B0006IU470/

23:35 – Private equity managing director Doug Horn provides a glimpse into the future of industry and geopolitics with “The End of the World is Just the Beginning” by Peter Zeihan and celebrates American entrepreneurial spirit in “Americana” by Bhu Srinivasan
The End of the World is Just the Beginning: https://www.amazon.com/End-World-Just-Beginning-Globalization/dp/B09CS8FRRD/
Americana: https://www.amazon.com/Americana-Bhu-Srinivasan-audiobook/dp/B075659K9K/

26:41 – PE managing director Mohit Kansal underscores the value of data over narrative with “Moneyball” by Michael Lewis.
Moneyball: https://www.amazon.com/Moneyball-Michael-Lewis-audiobook/dp/B005FFRQYS/

28:23 – Private equity managing director Marshall Phelps draws leadership lessons from "Washington" by Ron Chernow and delves into the intrigue of "Conspiracy" by Ryan Holiday
Washington: https://www.amazon.com/Washington-Ron-Chernow-audiobook/dp/B0045XYQ12/
Conspiracy: https://www.amazon.com/Conspiracy-Ryan-Holiday-audiobook/dp/B0794CLD44/

32:35 – Private equity managing partner Doug McCormick offers a refreshing perspective on global progress with "Factfulness" by Hans Rosling.
Factfulness: https://www.amazon.com/Factfulness-audiobook/dp/B07BFDCWZP/

Join us as we explore these diverse and thought-provoking works that have shaped the minds of business leaders and will undoubtedly influence your approach to business and life.

PE Firms
CEOs
Due Diligence

Episode 042

Nick Shaw, Mirrorbox Leadership Lab | ‘My Teacher, My Son: Lessons on Life, Loss, and Love’

In this deeply moving episode of the Karma School of Business podcast, hosted by BluWave's Founder and CEO, Sean Mooney, we sit down with Nick Shaw, co-founder of Mirrorbox Leadership Lab and author of My Teacher, My Son. Nick shares his personal journey through an unimaginable tragedy that led him to profound revelations about life, empathy, and the power of choice. This episode offers a unique perspective on how to navigate life's toughest challenges and transform them into opportunities for growth and enlightenment.

2:31 - Nick's background and path to becoming an executive coach
6:24 - Introducing Nick's book: 'My Teacher, My Son' and the story of William
13:44 - Stepping off of the hamster wheel of life
21:01 - The power of empathy & keeping it simple
31:48 - Taking steps forward: what Nick's doing now

-To purchase Nick's book, 'My Teacher, My Son," go to https://bit.ly/4aiggoo
-For more information about Nick as an author, go to www.meetnickshaw.com
-For more information about Nick and Mirrorbox Leadership Lab, go to www.mirrorboxleadershiplab.com
-For more information about William's Be Yourself Challenge, go to www.williamsbeyourselfchallenge.org
-For more information on BluWave and this podcast, go to www.bluwave.net/podcast

PE Firms
CEOs

Episode 041

Dave Feierstein, Ronin Equity Partners | Transforming Business with a Hybrid Investor-Operator Approach

In this riveting episode of the Karma School of Business podcast, we delve into the private equity world with Dave Feierstein, Co-founder and Managing Partner at Ronin Equity Partners. Join our host, Sean Mooney, BluWave's Founder and CEO, as he engages Dave in a conversation that traverses his entrepreneurial beginnings to his current innovative strategies at Ronin Equity Partners. This episode offers a wealth of insights for private equity professionals and business owners, shedding light on the significance of developing efficient back-office structures, the pivotal role of change management in large corporations, and how Ronin Equity Partners is reshaping the traditional private equity paradigm. Don't miss this opportunity to learn from one of the industry's thought leaders.

1:30 - Dave's background and path to private equity
9:53 - Adding value with Zero-based Budgeting
16:15 - Deploying the business transformation playbook
25:16 - A unique approach to value creation
37:02 - An everyday life hack

For more information about Dave and Ronin Equity Partners, go to roninequitypartners.com.
For more information about BluWave and this podcast, go to bluwave.net/podcast.

PE Firms
CEOs
Due Diligence

Episode 040

Eric Jensen, Nordic Capital | Achieving Operational Excellence: A Look into M&A and Talent Strategy in Private Equity

In this episode, BluWave Founder and CEO, Sean Mooney, catches up with Eric Jensen, Operations Director at Nordic Capital. They explore the current dynamics of the M&A market, the significance of preparing businesses for the M&A process, and the growing importance of aligning the right roles with the right people. Also, Sean and Eric delve into the impact of technology in the corporate world, focusing on Eric's unique journey from consulting to operating and then transitioning into private equity. The pair discuss operational excellence, value creation, and how Essential Skills and strategies are combined with a strong leadership team to drive performance. Dive into this thoughtful conversation for intriguing insights into the ever-evolving private equity industry.

1:05 - Eric's path to private equity
6:54 - Introducing Thor
10:09 - Traits that display operational excellence
15:41 - The importance of expertise in value creation
20:38 - Managing stakeholder communication
27:13 - The difference in private equity investing in the US versus Europe
31:30 - Eric's advice to his younger self

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

PE Firms
CEOs
Value Creation

Episode 039

Jay Hernandez, Raymond James | M&A Market Dynamics: Essential Preparations for Buyers and Sellers

In this episode of the Karma School of Business podcast, Sean Mooney interviews Jay Hernandez, head of the industrial technology practice at Raymond James. They discuss the current state of the M&A markets and offer insights for both sellers and buyers. Hernandez emphasizes the importance of preparation for sellers, advising them to engage advisors early and thoroughly prepare their businesses for the M&A process. He also urges buyers to come prepared and do their homework before pursuing a deal. Additionally, Mooney and Hernandez share their latest life hacks, including the use of sous vide cooking for perfectly cooked steaks.

1:22 - Jay's background and origin story
8:21 - The return to normalcy in the deal market
14:22 - What sellers should know before going to an investment bank
24:08 - What buyers should know before going to an investment bank
29:03 - An IB response to new LOIs
34:12 - Jay's life hack: sous vide

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

PE Firms
CEOs
Due Diligence

Episode 038

Interim Ingenuity: Ready-made Executives to Elevate Your Company

In this special episode, we have exclusive audio from our recent webinar: Interim Ingenuity: Ready-made Executives to Elevate Your Company. The panel of experts from this webinar includes:

Mark Steenhoek, Managing Director, The Stephens Group
Bryan West, Managing Director, Resurgens Technology Partners

The panel, moderated by BluWave's Richmond Donnelly, includes the following topics:

3:28 - Proprietary data highlighting human capital as a main priority
4:42 - How the experts are working with interim executives
9:20 - Value that interim executives add and the most common interims that are hired
16:49 - The interim executive selection process and criteria to follow
22:10 - How do you ensure a successful engagement

To learn more about Mark and The Stephens Group, go to www.stephensgroup.com.
To learn more about Bryan and Resurgens Technology Partners, go to wwww.resurgenstech.com
To learn more about BluWave and this podcast, go to www.bluwave.net/podcast

PE Firms
Human Capital
Value Creation

Episode 037

Scott Estill, Lancor | Talent Dynamics in Private Equity: How Firms are Refining their Approach

In this episode, host Sean Mooney and Scott Estill, a Managing Partner at Lancor, discuss the evolving landscape of the private equity industry. They delve into the importance of aligning the right people to the right roles, the emerging significance of the human aspect in business, and how top private equity firms are managing their talent acquisition and retention processes. Additionally, they explore the impact of technology advancement on the industry and everyday life. The conversation concludes with a reflection on the necessity to adapt and develop as change is the only constant factor in business. Get a behind-the-scenes look into these intriguing insights by tuning into the episode.

1:53 - Scott's story: solving a problem and whether or not to talk to your uber driver
11:43 - The most important things to make talent searches successful
22:54 - How top PE firms are managing through the assessment phase and appealing to talent
29:25 - Scott's book recommendations

For more information on Scott and Lancor, go to www.lancor.com

PE Firms
Human Capital
Value Creation

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