The Private Equity Podcast, by Raw Selection

Alex Rawlings
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Hosted by Alex Rawlings, Managing Partner of Raw Selection, a specialist executive search firm. Join us as we interview the leading experts in Private Equity, unlocking their secrets of success to share with you. Discover how some of the top Private Equity professionals got into Private Equity, how they rose to success and learn about some of the mistakes they made along the way.Alex has strong connections to the Private Equity industry through his executive search firm, Raw Selection, which specialises in working with Private Equity firms and their portfolio companies across Europe and North America. Alex is straight talking and to the point and aims to unlock real gold you can build into your firm or portfolio companies. Find out more at www.raw-selection.com

  1. 2D AGO

    Emerging markets investing in the consumer & retail sector

    In this episode, Giovanni Zangani joins Alex Rawlings to share insights from operating in Vietnam’s emerging private equity landscape. As Managing Partner at Maestro Equity Partners, Giovanni discusses the firm’s hands-on approach to investing in consumer and F&B businesses, the challenges of deal execution in emerging markets, and why local understanding is critical to success. ⏱️ Timestamps: 00:00 – Intro to Giovanni & Maestro Equity Vietnam-focused, growth equity firm backing brick-and-mortar and F&B businesses with tickets of $5–20M. 01:25 – Key Mistakes in Emerging Markets Investors often misjudge deals by relying on personal experiences or Western legal frameworks without cultural alignment. 03:16 – Who Makes These Errors? Regional and international funds rushing due diligence or avoiding deeper market engagement. 04:41 – Why Vietnam? Giovanni's move from the US to Vietnam, spotting talent gaps, and seizing untapped opportunities. 07:30 – Mature vs. Emerging Market Investing Faster growth, lower costs, and higher returns—but requires entrepreneurial execution. 09:23 – PE in Vietnam is a Different Game You must own every part of the process—legal, operational, strategic—and be hands-on daily. 11:17 – Due Diligence = Partnership Building Guide founders through compliance and process; the relationship starts before the investment closes. 14:40 – Post-Investment Involvement Maintaining founder focus and execution requires credibility, patience, and close collaboration. 16:35 – Lean but Deep Team A 10-person team making fewer, more impactful investments with long-term vision. 17:59 – Vietnam’s Outlook More consolidation, founder maturity, and market sophistication ahead—making it ripe for growth and future competition. 20:19 – Giovanni’s Recommendations 🎧 All-In Podcast 📘 The Game – Alex Hormozi 📘 The 5 Types of Wealth 21:40 – Connect with Giovanni 📧 giovanni@maestroequity.com 🔗 Giovanni Zangani on LinkedIn 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.

    22 min

  2. JAN 27

    The 5 step playbook assessment on business leadership effectiveness

    In this episode, Sam and Taavo from CEO Advantage return to dive into the 5X CEO Assessment—a diagnostic tool developed from two years of research into top-performing private equity-backed CEOs who delivered 5x+ MOIC. The conversation explores how the 5X model—comprised of Strategic Clarity, Scalable Talent, Relentless Focus, Disciplined Execution, and Energized Culture—is used not just as a conceptual framework, but as a practical tool to evaluate and upgrade leadership team performance. 🔑 Key Discussion Points ▶ 5X Model Overview Built from studying CEOs with 5x+ returnsFive components: Strategic Clarity, Scalable Talent, Relentless Focus, Disciplined Execution, Energized Culture▶ How the Assessment Works Each component includes 10–12 statements to rate by importance and performanceIncludes open-ended responses for actionable feedbackResults are color-coded (Red-Yellow-Green) for fast clarity and prioritizationUsed with leadership teams and optionally with boards or PE partners▶ Strategic Clarity Aligning the CEO, leadership, and board on the value creation planCommunicating strategy throughout the organization—down to the receptionistThe role of repetition in embedding strategy (11x rule)▶ Energized Culture Holding people accountable for behavior, not just resultsMeasuring employee engagement and culture with data (e.g. eNPS)Example: CEOs who stack-rank team collaboration to highlight friction and teamwork▶ Scalable Talent Focus on A-players in critical value-driving roles, not just execsUsing 9-box performance vs. potential models, shared with boardsCEOs with strong HR leaders outperform—talent as a strategic function▶ Relentless Focus Simplifying execution to “do now, do next, don’t do”Avoiding shiny object syndrome and internal distractionEnsuring alignment on key initiatives and managing PE firm inputs▶ Disciplined Execution Tracking both leading and lagging KPIs tied to the value creation planEstablishing a management cadence and operating systemExample: AI-driven measurement of customer conversations to boost growthTying metrics directly into compensation and incentive systems▶ How PE Firms Use the Tool As part of diligence or onboarding of new CEOsTo drive annual CEO performance reviewsTo create a shared language between CEOs and sponsors on team performance📘 Resources Mentioned Book: The 5X CEO – Available on Amazon and AudibleThe Private Equity Playbook series by Adam CoffeyMove by Sandy Ogg (Talent to Value)Works by Patrick Lencioni on leadership and clarity🌐 Learn more about the 5X model and CEO Advantage at www.AdvantageCEO.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.

    47 min

  3. JAN 20

    How Private equity Firm Council Capital Approach Value Creation

    In this episode, Alex Rawlings is joined by Tim Schulte, Value Creation Partner at Council Capital, a Nashville-based private equity firm investing in healthcare businesses across tech-enabled services, outsourced services, and provider platforms. Tim brings a unique blend of consulting, operational, and investing experience. He shares how Council Capital drives value creation through collaboration, leadership development, and a structured yet flexible approach to talent and operations. 🔑 Key Highlights: 00:00 – Introduction Tim’s background: consulting → startup growth → private equity. At Council for 6+ years, focused on scaling healthcare companies. 01:15 – Common Mistake in PE Reinventing the wheel. Tim advocates for leveraging shared knowledge and collaboration across portfolio companies instead of starting from scratch. 02:12 – Three PE Value Creation Models Tim outlines three styles: Collaborative but shallowSubstantive but rigidCollaborative and substantive – Council Capital’s approach03:37 – Collaboration in Practice Council’s CEO Council is made up of 30+ senior leaders who are both advisors and investors. Their involvement creates mentorship and alignment without top-down pressure. 05:02 – Council’s Value Creation Team A large internal team supports portfolio companies with tailored toolkits (not rigid playbooks) across growth, ops, and talent. 06:11 – Hiring Top Executives Talent is central to value creation. Council uses: TopgradingAptitude & personality assessmentsIn-depth referencingCase studies ...to ensure fit and long-term success.09:05 – Role of Assessments Assessments aren’t used to screen candidates out, but to guide interview questions and identify fit. Council tracks data across hundreds of hires to correlate traits with performance. 12:27 – Broader Talent Support Beyond the C-suite, Council helps portfolio teams: Implement HR techRefine hiring processesImprove onboardingStructure incentive plans14:38 – First 100 Days for CEOs New CEOs are expected to: Align on strategyBuild out the right teamEnsure reliable data systems to track performance16:58 – Recommended Resources Tim recommends: Acquired – for business case studiesFounders – for leadership traits & human stories17:52 – Connect with Tim Schulte Best via LinkedIn or at Council Capital 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.

    18 min

  4. JAN 13

    Private Equity market trends and investing techniques

    🎧 Guest: Maxwell Nee – Chairman, Family Office Insider & Managing Partner, Black Mountain Capital 🌍 Episode Theme: 10X Deals, Market Gaps & Global Investing In this episode, Alex Rawlings is joined by Maxwell Nee to explore how thinking bigger—10X bigger—can simplify investing and unlock outsized returns. Maxwell shares his 3-leg framework for identifying high-potential opportunities and dives into emerging trends across waste-to-value, renewables, and infrastructure. You’ll hear about: What 10X deals really mean and why they’re often easier to executeThe 3 key components of any game-changing opportunityTurning waste (like avocado seeds or Guinness beer) into profitsWhere Maxwell is putting capital now: mining, energy, biofuelsHow family offices differ from traditional PE firmsLessons from global dealmaking and the role of geopolitics⏱️ Time Stamps: 00:00 – Intro to Maxwell Nee 01:00 – Founding Family Office Insider during COVID 02:30 – Common PE mistakes: overextension, distraction 04:00 – What makes a 10X deal 07:00 – The 3-leg framework: Market Gap, Team, Funding 08:30 – Real examples: bioplastics, energy, solar 11:00 – Investing globally & understanding country strengths 18:50 – PE vs. Family Office mindsets 21:00 – Book recs: How to Make a Few Billion Dollars, Time is a Tool 22:30 – Connect with Maxwell on LinkedIn 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.

    23 min

  5. JAN 6

    The journey from $140M to a $1Bn Valuation and a stage 4 cancer victory

    In this powerful episode, Marc Adams shares his remarkable journey from a stage 4 cancer diagnosis to a full recovery—and how that experience inspired him to rethink private equity. Now leading Acquisitions for You, Marc helps business owners double their company’s value and cash out tax-free—without debt, dilution, or outside capital. With 40+ years in leadership, IPOs, and M&A, Marc discusses his “Double and Keep It” framework, raising over $350M to support non-traditional exits, and how PE firms can create more value by going deeper into operations. He also shares how a question from his 10-year-old son sparked a mission to help business owners keep more of what they’ve built. ⏱️ Timestamps 00:00 – Intro to Marc & his corporate background 01:27 – Life-changing cancer diagnosis during the pandemic 05:34 – A pivotal question from Marc’s son: “Who helps the business owners?” 07:01 – Miraculous recovery and new purpose 09:24 – Writing a bestselling book to help owners increase value 10:16 – The “Double and Keep It” framework explained 11:43 – $350M raised to support exits without debt or dilution 13:08 – How structuring right helps owners keep 70–90% post-sale 15:01 – Helping younger founders take chips off the table 18:52 – From $140M to $1B valuation: how it was done 22:09 – Case study: $0 to $950M in 18 months 23:36 – Why PE must engage with operating teams 25:26 – Reducing founder resistance and aligning incentives 27:49 – Leaving room for buyers’ value creation 30:09 – Example: $6B tech buyer building value via synergy 32:29 – When forced changes from PE go wrong 34:28 – Why personal brand and social media matter more than ever 37:21 – 19-year-old entrepreneur’s turnaround and success 40:38 – Helping overlooked businesses unlock true value 42:02 – How to connect with Marc and access his free resources 📘 Resources Contact Marc: marc@acquisitionsforyou.comVisit: acquisitionsforyou.comFree tools & book via Marc’s Linktree (shared in episode)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.

    43 min

  6. 12/30/2025

    A GP Stakes Perspective on the Professionalisation of Private Equity

    Overview: In this high-energy episode, Alex Rawlings is joined by Brad Pilcher, Partner and Co-Founder at Bonaccord Capital Partners, a leading mid-market GP Stakes investor. Brad shares his fascinating journey from aspiring concert pianist to private equity investor, and dives deep into how the private equity world is evolving — particularly around culture, capital, talent, and growth. They explore how mid-market firms can scale successfully, the five principles guiding Bonaccord’s strategy, and why “professionalization” is now essential across PE — from investor relations and origination to team structuring and multi-product growth. 🔑 Key Topics: [00:00] Brad’s background & founding Bonaccord Capital Partners[01:54] Lessons from Bridgewater: culture, ambition, client-focus[06:34] Brad’s 5 core principles for investing and business success[13:05] Why Bonaccord targets the mid-market: stability + growth[17:38] Institutional capital shift towards mid-market PE[20:29] Mistakes PE firms make: lack of evolution, strategy, or value creation[24:17] Fundraising playbook: off-cycle marketing, transparency, and LP engagement[31:18] The professionalization of private equity – talent, IR, and origination[36:07] State of the GP Stakes market & why liquidity concerns are overblown[42:04] Surge in control acquisitions & how it impacts GP Stakes[44:50] What Brad reads: quarterly reports, Bridgewater research, biographies & astrophysics📌 Notable Quotes: “In business as in life, the only constant is change.” “Great firms know who they are, and evolve with purpose.” “People, not spreadsheets, drive performance.” “The best GP Stake firms bring capital and value creation.”📚 Resources & Mentions: Bonaccord Capital Partners – bonaccordcapital.comBrad Pilcher on LinkedIn – Connect HereEdgar SEC Filings, Bridgewater macro research, A.V. Loeb’s astrophysics workRaw 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.

    50 min

  7. 12/23/2025

    An investors value creation plan for $100M+ revenue companies

    In this episode, host Alex Rawlings speaks with Eric Wiklendt, Managing Director at SpeySide Equity, a private equity firm focused on lower middle-market manufacturing businesses. Eric shares his “fix and build” value creation strategy, the key elements of successful human capital alignment, and why cost accounting is the hidden killer in many portfolio companies. With deep operational experience, Eric offers a grounded perspective on how to avoid overcomplicating PE value creation. 🔍 Key Highlights: Fix & Build Framework: Phase 1 focuses on EBITDA improvement; Phase 2 drives growth.Top Phase 1 Levers:Aligning and incentivizing managementRationalizing the revenue portfolioOptimizing the operational footprintBiggest Friction Point: Getting the people side right—human capital alignment and talent quality.Always an Issue: Poor cost accounting systems that impact pricing and margins.Hiring Better Leaders: SpeySide’s edge comes from having “been there, done that” as former operators.Walk-Away Red Flag: Dishonesty or lack of transparency in due diligence.Industry Mistake: Relying on too many value levers—hope is not a strategy.📚 Eric Recommends: Books on economics, behavioral psychology, and sociology to better understand how people think and make decisions. 💼 Connect with Eric: LinkedIn: Eric Wiklendt Website: www.speysideequity.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.

    29 min

  8. 12/16/2025

    The secrets behind top PE-backed CEO’s achieving 6.2X MOIC

    📍 Episode Overview: Alex Rawlings welcomes Taavo Godtfredsen and Sam Allison, co-founders of Advantage CEO, to discuss insights from their two-year research study of over 50 private equity-backed CEOs who averaged 6.2x MOIC. They break down the habits, systems, and mindset that separate high-performing CEOs from the rest—and introduce their proven 5X CEO Model. ⏱️ Key Timestamps: 00:00 – Introductions Taavo and Sam share their backgrounds and transition into executive coaching for PE-backed CEOs. 01:50 – Common CEO Mistakes Strategy gets stuck at the topTrying to do too muchHolding onto average talent too long04:30 – How Top CEOs Handle Talent Identify A-players for mission-critical rolesUse litmus test: “Would I rehire this person today?”Design roles to be winnable, not overwhelming09:00 – Quarterly Talent Reviews Simple red/yellow/green assessmentsUse of the Nine Box model for performance and potentialSuccession planning: Who’s ready now vs. in 1-2 years?12:56 – Research Behind the 5X CEO Model 50+ CEOs and 25 PE leaders interviewedFocused on repeatable, values-based leadership900+ years of combined PE experience17:03 – The 5X CEO Model Strategic Clarity – Clear, compelling vision beyond EBITDAScalable Talent – A-players in critical rolesRelentless Focus – Prioritize top value driversDisciplined Execution – Systems to track, adapt, and performEnergized Culture – Engage employees to drive growth25:38 – Practical Tools from Top CEOs Reverse Executive Session for feedbackBlank Sheet Strategy to identify disruption risksUsing AI to detect performance issues faster29:47 – CEOs as System Designers Build systems that scale, not just solve problemsUse tech and tools to extend leadership capacity32:14 – Recommended Resources The 5X CEO (Taavo & Sam)Five Dysfunctions of a Team – Patrick LencioniMOVE – Sandy OggThe Private Equity Playbook – Adam Coffey33:09 – How to Connect with Taavo & Sam 🌐 advantageceo.com 📧 taavo@advantageceo.com | sam@advantageceo.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.

    34 min
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Hosted by Alex Rawlings, Managing Partner of Raw Selection, a specialist executive search firm. Join us as we interview the leading experts in Private Equity, unlocking their secrets of success to share with you. Discover how some of the top Private Equity professionals got into Private Equity, how they rose to success and learn about some of the mistakes they made along the way.Alex has strong connections to the Private Equity industry through his executive search firm, Raw Selection, which specialises in working with Private Equity firms and their portfolio companies across Europe and North America. Alex is straight talking and to the point and aims to unlock real gold you can build into your firm or portfolio companies. Find out more at www.raw-selection.com

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