KARMA SCHOOL OF BUSINESS PODCAST

The Business Builders’ Podcast

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Episode 104

The Future of Private Equity: Innovation, Transformation, and Leadership

In this special episode, Sean Mooney examines how private equity is evolving to meet the challenges of today and tomorrow. From proactive due diligence to transformative value creation, modern firm operations, and corporate citizenship, Sean explores the key trends shaping the future of the industry and highlights the firms leading the charge. Whether you're a private equity practitioner, portfolio company leader, or aspiring partner, tune in to gain actionable insights into the future of the asset class.

Episode Highlights:
1:16 - Sean introduces four key trends in private equity: proactive due diligence, transformative value creation, modern firm operations, and corporate citizenship.
3:54 - The shift from confirmatory to proactive due diligence: How specialists, value creation plans, and detailed insights are helping PE firms bend the supply and demand curve to generate superior outcomes.
7:23 - Transformative value creation: Leading PE firms are accelerating change by leveraging internal ops teams, expert third parties, and aligned strategies to drive rapid business transformation.
10:17 - Modernizing PE firm operations: How firms are now run like their portfolio companies, with robust BD teams, human capital investments, advanced analytics, and emerging AI tools.
15:50 - Corporate citizenship in PE: Examples of firms like KKR, Alpine, and Hidden Harbor leveraging employee ownership, volunteering, and safety nets to create value beyond financial returns.
18:01 - Sean introduces BluWave’s Top Private Equity Innovators program, highlighting firms that exemplify innovation and success across the key themes shaping the industry.

For more information, and to see the list of the 2025 Top Private Equity Innovators, go to https://www.bluwave.net/awards.

PE Firms
Deal Team
Due Diligence

Episode 103

Private Equity Spotlight: Dan Ryan on Turning Challenges into Smart Strategies

In this engaging episode of the Karma School of Business podcast, Sean Mooney sits down with Dan Ryan, Managing Director at MidOcean Partners, to discuss his journey in private equity, the evolving dynamics of the industry, and how MidOcean is staying ahead in a competitive market. From life-saving lessons to building critical business functions during challenging times, Dan shares invaluable insights about overcoming adversity, nurturing relationships, and leveraging data to create impactful results. Whether you're a private equity professional or a business leader, this episode offers inspiration and tactics you can apply in your career.

Episode Highlights
2:00 – Dan Ryan’s journey from investment banking to private equity and how his time at Georgetown and Division 1 soccer influenced his leadership approach.
8:00 – The life-saving story of a steak dinner gone wrong and how it echoes lessons of trust and collaboration in high-stakes situations.
14:00 – Building MidOcean’s business development function during the pandemic and utilizing data as a competitive advantage.
27:00 – How MidOcean is adapting to industry changes by integrating structured equity, leveraging AI, and forming strategic JVs like their initiative with Kroger.
38:00 – The importance of cybersecurity in private equity-backed companies and actionable advice for protecting businesses.
39:00 – Practical life hacks: From generative AI for daily use to a surprising life-saving maneuver for choking incidents.

For more information on MidOcean Partners, go to https://www.midoceanpartners.com/
For more information on Dan Ryan, go to https://www.linkedin.com/in/dan-ryan-3324512/

PE Firms
Deal Team
Due Diligence

Episode 102

Private Equity Spotlight: Scaling Bootstrapped Success with Vinay Kashyap

Sean Mooney welcomes Vinay Kashyap, Partner at Mainsail Partners, to explore the art and science of investing in and scaling bootstrapped software companies. With a focus on relationships, discipline, and resourcefulness, Vinay reveals how Mainsail supports entrepreneurs in building enduring businesses. Discover practical strategies for turning product-driven companies into market leaders, leveraging AI for growth, and navigating the fast-changing tech landscape with confidence.

Episode Highlights
1:07 - Vinay’s journey into private equity, how his upbringing influenced his career, and the focus on bootstrapped software companies at Mainsail Partners.
6:45 - The value of long-term relationship building, Mainsail’s proactive approach to sourcing investments, and why a three-to-five-year timeline is critical.
10:27 - What makes a great investment: strong growth metrics, durable product quality, and visionary, industry-experienced founders with a learning mindset.
16:29 - Transforming companies post-investment: building infrastructure, upgrading tech stacks, assembling top-tier teams, and implementing data-driven systems.
23:45 - Practical applications of AI within portfolio companies, including customer service transformations and developer productivity optimization.
32:13 - Preparing for a future shaped by AI and the importance of embedding cutting-edge technology into both operations and product offerings.

For more information on Mainsail Partners, go to https://Mainsailpartners.com/
For more information on Vinay Kashyap, go to https://www.linkedin.com/in/vinay-kashyap-3646173
For more information on BluWave and this podcast, go to https://www.bluwave.net/podcasts

PE Firms
Deal Team
Due Diligence

Episode 100

Private Equity Predictions: 2025 Roadblocks, Accelerators, and What’s Next

In this special Karma School of Business episode, Sean Mooney breaks down key lessons from 2024 and offers predictions for the private equity industry in 2025. Discover what’s driving growth, the challenges firms must navigate, and strategies to leverage emerging trends like AI adoption, reshoring, and evolving M&A markets.

Episode Highlights:
2:15 – Looking back at 2024: Stop-and-go momentum, election-year impacts, and why the economy wasn’t as predictable as anticipated.
10:00 – Positive signals for 2025: Stable GDP, moderating inflation, and improving private equity deal activity.
18:30 – Why private equity is shifting from "wartime generals" to growth-focused "peacetime ministers" and what it means for 2025.
26:15 – Breaking down the private equity ecosystem: Emerging trends in M&A, human capital, and AI adoption.
34:00 – Upcoming opportunities: U.S. manufacturing renaissance, reshoring strategies, and advice for firms to stay competitive.
42:30 – The road ahead: How private equity can create its own luck and thrive in the next 5-7 year growth cycle.

To request your copy of the Q4 2025 Private Equity Insights Report, visit www.bluwave.net/insights-report.

PE Firms
Deal Team
Due Diligence

Episode 098

Insights from Investment Banking: Steve Hunter’s Advice for Private Equity and Business Owners

Sean Mooney sits down with Steve Hunter, Managing Director at TM Capital, to discuss the nuanced world of M&A, the key ingredients for creating value in a business, and what both buyers and sellers need to know for a successful deal. Steve offers practical advice for private equity professionals and business owners, sharing timeless insights from his decades-long career and a behind-the-scenes perspective on helping companies achieve transformational outcomes.

Episode Highlights:

1:12 - Steve Hunter shares his journey from rural Pennsylvania to a career in M&A, including his early days at Alex. Brown and Robinson Humphrey.
8:11 - Building value in a business: How to de-risk operations, grow strategically, and attract top buyers by focusing on recurring revenue, growth opportunities, and strong teams.
19:02 - Why every seller should prepare their business as though it’s “sale-ready” from day one to maximize outcomes.
24:48 - The importance of transparency, top-tier advisors, sell-side QofE, and handling the overwhelming volume of data requests during an M&A process.
32:06 - Steve shares advice for buyers: Avoiding abrasiveness, thoroughly preparing for management meetings, and balancing operational oversight post-acquisition.
40:59 - TM Capital’s tailored approach: A Goldilocks strategy with boutique-level customization and deep investment in deal preparation, including advanced data analytics.
44:27 - Steve looks ahead to 2025 and shares why he’s optimistic about a strong year for M&A activity.
51:06 - Insights for life and leadership: The importance of asking for what you want and recognizing that anyone can shape the world around them.

For more information on TM Capital, go to https://www.tmcapital.com/

For more information on Steve Hunter, go to https://www.linkedin.com/in/sjhunter

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

PE Firms
Deal Team
Due Diligence

Episode 097

Private Equity Spotlight: Lessons in Leadership and Growth with Casey Myers

In this episode, Sean Mooney speaks with Casey Myers, partner at Edison Partners, about leadership, value creation, and growing businesses in the lower middle market. Casey shares his unique operator-driven perspective on driving sustainable growth, evaluating leadership, and solving pain points for customers.

Episode Highlights:
2:37 - Casey shares how his experience with 52 private equity firms during an exit process inspired his focus on operational value creation.
8:11 - Casey describes the key foundations of a good company: leadership character, solving customer pain points, and addressing technology debt.
16:11 - Casey explains how Edison Partners uses a people-first approach to support leadership development and build high-performing teams.
23:54 - Casey highlights the importance of aligning priorities and systematically investing in people to create sustainable growth.
32:23 - Casey’s advice to his younger self: embrace a broad range of experiences and lean into opportunities to develop versatile skills.

For more information on Edison Partners, go to https://www.edisonpartners.com/
For more informatin on Casey Myers, go to https://www.linkedin.com/in/casey-atl

PE Firms
Deal Team
Due Diligence

Episode 096

What I Wish I Knew: Private Equity Leaders’ Advice to Their Younger Selves (2024, Part 1)

In this special compilation episode, private equity leaders share the invaluable advice they would give to their younger selves. This collection of insights offers timeless wisdom applicable to professionals at all stages of their careers. Hear lessons on adaptability, patience, relationship building, and trusting your instincts from some of the most respected voices in the industry.

Episode Highlights:
1:04 - Grant Kornman (Align Collaborate, Episode 53): Discusses the importance of hard work, relationship-building, and creating your own luck.
3:20 - John Caple (Hidden Harbor Capital Partners, Episode 57): Talks about embracing feedback, making small process adjustments, and balancing personal strengths.
11:02 - Carl Press (Thoma Bravo, Episode 60): Reflects on trusting your instincts, building confidence, and speaking up when you've done the work.
13:13 - Doug Horn (Clairvest, Episode 63): Shares the metaphor of not holding the grip too tight and how it applies to life and career.
14:58 - Ami Mehta and Joe McIlhattan (Periscope Equity, Episode 64): Ami emphasizes patience and balance, while Joe focuses on skill development and appreciating the journey.
19:00 - Cory Eaves (BayPine, Episode 66): Encourages thoughtful planning and doing more of what you love, like sailing.
23:12 - Jessica Ginsberg (LFM Capital, Episode 67): Reminds us to stay open-minded, take risks, and trust the process.
24:52 - Chris Cathcart (The Halifax Group, Episode 72): Highlights patience, perspective, and learning from each season of life.

Episode Links:
https://www.bluwave.net/podcasts/grant-kornman-align-collaborate/
https://www.bluwave.net/podcasts/john-caple-hidden-harbor/
https://www.bluwave.net/podcasts/carl-press-thoma-bravo/
https://www.bluwave.net/podcasts/doug-horn-clairvest/
https://www.bluwave.net/podcasts/ami-mehta-joe-mcilhattan-periscope-equity/
https://www.bluwave.net/podcasts/cory-eaves-baypine/
https://www.bluwave.net/podcasts/jessica-ginsberg-lfm-capital/
https://www.bluwave.net/podcasts/private-equity-spotlight-chris-cathcart-on-cultivating-entrepreneurship-in-pe/

PE Firms
Deal Team

Episode 094

Private Equity Business Builders’ Bookshelf 2024

In this special episode, we gather impactful book recommendations from our guests, offering insights into the minds of leading business builders.

Episode Highlights:

1:12 - Emily Holdman: Recommends "The Book of Charlie" by David Von Drehle for its profound wisdom and applicability to life changes.
https://www.amazon.com/Book-Charlie-Remarkable-American-109-Year-Old/dp/1476773939/

6:04 - Suzanne Yoon: Shares insights from "Traction" by Gino Wickman, emphasizing the entrepreneurial operating system for accountability and growth.
https://www.amazon.com/Traction-Get-Grip-Your-Business/dp/1936661837/

10:03 - Tim Schulte: Suggests Yuval Noah Harari’s "Sapiens," "Homo Deus," and "21 Lessons for the 21st Century" as thought-provoking reads on humanity and its future.
https://www.amazon.com/Sapiens-Humankind-Yuval-Noah-Harari/dp/0062316117/
https://www.amazon.com/Homo-Deus-Brief-History-Tomorrow/dp/0062464345/
https://www.amazon.com/Lessons-21st-Century-Yuval-Harari/dp/0525512195/

12:00 - Eric Hansen: Describes "The Loop Files" by Rick Kaempfer and "The Mosquito Bowl" by Buzz Bissinger for their engaging historical narratives.
https://www.amazon.com/Loop-Files-History-Outrageous-Station/dp/B0CNH5TZSQ/
https://www.amazon.com/Mosquito-Bowl-Game-Death-World/dp/0062879936/

16:43 - Josh Adams: Highlights "What It Takes" by Stephen Schwarzman, "Greenlights" by Matthew McConaughey and "Shoe Dog" by Phil Knight emphasizing the engaging storytelling and life lessons.
https://www.amazon.com/What-Takes-Lessons-Pursuit-Excellence/dp/1501158147/
https://www.amazon.com/Greenlights-Matthew-McConaughey/dp/0593139135/
https://www.amazon.com/Shoe-Dog-Memoir-Creator-Nike/dp/1501135910/

19:31 - Bob Belke: Discusses "Die With Zero" by Bill Perkins, advocating for investing in life experiences, and "The Monk Who Sold His Ferrari" by Robin Sharma for its insights on living a fulfilled life.
https://www.amazon.com/Die-Zero-Getting-Your-Money/dp/0358567092/
https://www.amazon.com/Monk-Who-Sold-His-Ferrari/dp/0062515675/

26:34 - John Stewart: Talks about "Building a Second Brain" by Tiago Forte, which outlines a methodology for organizing information efficiently.
https://www.amazon.com/Building-Second-Brain-Organize-Potential/dp/1982167386/

31:45 - Erik Ginsberg: Recommends "Leadership and Self Deception" by The Arbinger Institute for its insights on self-awareness and organizational behavior.
https://www.amazon.com/Leadership-Self-Deception-Fourth-Transforming-Relationships/dp/1523006560/

33:21 - Darren Herman: Offers "Startup" by Jerry Kaplan for its diary-format insights on building a technology company, and reflects on "Catcher in the Rye" by J.D. Salinger as an inspirational read.
https://www.amazon.com/Startup-Silicon-Adventure-Jerry-Kaplan/dp/0140257314/
https://www.amazon.com/Catcher-Rye-J-D-Salinger/dp/0316769177/

37:16 - Christian Bullitt: Suggests "The Fund" by Rob Copeland, describing Bridgewater Associates' unique corporate culture.
https://www.amazon.com/Fund-Bridgewater-Associates-Unraveling-Street/dp/1250276934/

PE Firms
Deal Team
Due Diligence

Episode 093

Private Equity Spotlight: From NFL to Investment Leadership with Rob Konrad

Join us as Rob Konrad, co-founder of Alterna Equity Partners, shares his journey from NFL athlete to private equity leader. Rob discusses how experiences from sports influence his investment strategies and success in building businesses.

Episode Highlights:
1:05 - Rob recounts his early fascination with economics and football during his upbringing in Boston.
4:14 - The transition from college football at Syracuse University to a career in the NFL.
6:51 - Rob reflects on the crucial role of leadership and preparation learned from sports.
14:05 - Hear the extraordinary story of survival and resilience during Rob’s unexpected boat accident.
29:12 - A look into value creation strategies at Alterna Equity Partners.
39:05 - The significance of OKRs and aligning interests for achieving strategic objectives.

For more information on Alterna Equity Partners, go to https://www.alternaequitypartners.com/
For more information on Rob Konrad, go to https://www.linkedin.com/in/rlk44
For more information on BluWave and this podcast, go to https://www.bluwave.net/podcasts/

PE Firms
Deal Team
Due Diligence

Episode 092

Digital Transformation in Private Equity: Nik Kapauan’s Journey with Access Holdings

Explore the role of digital innovation in private equity with Nik Kapauan, Managing Director at Access Holdings. Host Sean Mooney, founder and CEO of BluWave, delves into how Access Holdings applies digital strategies and value creation to enhance middle-market businesses. Learn about Nik's shift from strategy consulting to leading initiatives at Access Holdings, the development of the Access Acceleration Center, and the impact of these efforts on the private equity landscape.

Episode Highlights:

1:19 - Nik's transition from strategy consulting to impactful work in private equity.
4:07 - The importance of strategy consulting experience in private equity.
8:10 - How Access Holdings identifies and assesses investment opportunities.
14:00 - Enhancing portfolio companies with the Access Acceleration Center's digital and data capabilities.
25:15 - Key value creation strategies in today's market.
39:54 - Nik shares a personal life hack for managing energy and time effectively.

For more information on Access Holdings, go to https://accessholdings.com/
For more information on Nik Kapauan, go to https://www.linkedin.com/in/nkapauan

PE Firms
Deal Team
Due Diligence

Episode 091

Strategic Exits and Sustained Growth: Year-End Insights from Doug McCormick and Lloyd Metz

Explore strategic exits and sustained growth in private equity with Doug McCormick of HCI Equity Partners and Lloyd Metz of ICV Partners. This special crossover episode delves into optimal timing for selling companies, the significance of building durable business models, and prioritizing long-term value. Learn how private equity navigates exit complexities, the importance of early strategic initiatives, and innovative exit strategies like partnership deals and continuation vehicles.

Episode Highlights:

02:13 - Impact of timing exits on value creation.
06:00 - Market consolidation and leadership in exit opportunities.
14:22 - Innovative exit strategies: partnership deals and continuation vehicles.
19:45 - Returning capital and providing optionality for companies.
34:57 - Preparing for a sale and avoiding pitfalls in the exit process.

To listen to the Best But Never Final podcast, go to https://bestbutneverfinal.buzzsprout.com/
For more information about ICV Partners, go to https://icvpartners.com/
For more information about HCI Equity Partners, go to https://hciequity.com/

PE Firms
Deal Team
Due Diligence

Episode 090

Value Creation and Philanthropy: Jon Pressnell’s Multifaceted Strategy at Blue Point Capital

In this insightful episode of the Karma School of Business podcast, host Sean Mooney, Founder and CEO of BluWave, engages in a thought-provoking conversation with Jon Pressnell, Partner at Blue Point Capital Partners. They delve into the multifaceted world of private equity, the strategic business building, and the unique philanthropic initiative, Blue Point Cares, which exemplifies a novel way of supporting portfolio companies. Jon shares his journey from a potential career in social work and dentistry to becoming a key player in private equity, highlighting the influence of his upbringing on his professional path and philanthropic endeavors.

Episode Highlights:

01:13 - Jon Pressnell's unique path to private equity and the influence of his family's social work background.
04:42 - Insights into Jon's personal life, revealing his introverted nature despite a seemingly extroverted profession.
08:17 - The challenge of work-life balance in the demanding private equity industry and strategies for managing it.
14:22 - Blue Point Capital's approach to creating value in portfolio companies, emphasizing technology, data, and human capital.
23:18 - Introduction to the Blue Point Cares program, an emergency assistance fund for employees of portfolio companies.
30:29 - Jon shares a life hack that has made traveling and working more manageable, introducing AR glasses for privacy and convenience.

For more information on the Blue Point Cares program, go to https://www.bluepointcapital.com/news/blue-point-launches-support-program-for-portfolio-company-employees-facing-unexpected-hardships
For more information on Blue Point Capital, go to https://www.bluepointcapital.com/
For more information on Jon Pressnell, go to https://www.linkedin.com/in/jon-pressnell
For more information on BluWave and this podcast, go to https://www.bluwave.net/podcasts

PE Firms
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