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. 14H AGO

    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

  2. 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

  3. 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

  4. 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

  5. 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

  6. 12/09/2025

    How to approach AI implementation, and Karmel Capital's AI investing strategy outlined

    Note: The securities mentioned in this podcast are not considered a recommendation to buy or sell and once should not presume they will be profitable. In this episode of The Private Equity Podcast, Alex Rawlings welcomes Scott Neuberger, Co-Founder and Managing Partner of Karmel Capital, a private equity firm investing in late-stage software and AI companies. Scott shares deep insights into how Karmel Capital leverages AI within its investment process, how they identify and evaluate late-stage tech businesses, and why they’re placing strategic bets in the infrastructure layer of AI. Scott explains the firm's capital efficiency-focused strategy, how they rank companies, and what metrics truly distinguish iconic businesses from the rest. He also discusses how AI is transforming internal operations and why firms must go beyond the hype to truly implement impactful AI solutions. Later in the conversation, Scott offers practical advice to portfolio company leaders on how to begin leveraging AI meaningfully—starting with labor-intensive areas like customer support. He finishes by outlining Karmel’s top-down investment approach to sectors like cybersecurity and why infrastructure plays offer value and growth. Whether you're investing in tech, operating a portfolio company, or just curious about how AI intersects with private equity, this episode is packed with real-world insight. ⌛ Episode Highlights & Time Stamps: 00:03 – Introduction to Scott Neuberger and Karmel Capital  01:00 – Scott’s journey: entrepreneur turned investor  02:19 – The mistake of investing too early in venture capital  03:47 – Why Karmel focuses on measurable, repeatable metrics  04:45 – How they assess capital efficiency in tech companies  06:41 – Key metrics and importance of experienced management teams  08:38 – Evaluating human capital and talent within portfolio companies  10:05 – Zooming out: The “mosaic theory” of identifying strong investments  10:33 – How Karmel Capital uses AI internally for data collection & analysis  13:22 – AI investing: why infrastructure is Karmel’s focus  15:49 – Pick-and-shovel strategy: betting on infrastructure vs. applications  17:44 – Advice for portfolio execs on where to begin with AI  18:43 – Customer support as a high-impact AI use case  21:09 – Navigating noise in AI investing: how Karmel decides where to play  22:34 – Case study: AI in cybersecurity and the top-down analysis approach  24:59 – The arms race in cybersecurity: AI on both offense and defense  25:29 – Scott’s reading and listening habits (inc. 20VC podcast)  26:56 – How to contact Scott Connect with Scott Neuberger: 📧 Email: scott@karmelcap.com 🌐 Website: www.karmelcapital.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.

    27 min

  7. 12/02/2025

    Preparing for Your Management Presentations to Investors & Acquirers

    🗣️ Guest: Carola Kamuff – Presentation Coach | Author of Quick Guide Management Presentation 🎧 Host: Alex Rawlings, Founder of Raw Selection ⏱️ Key Topics & Timestamps: 00:00 – Meet Carola Kamuff Former M&A exec turned expert in coaching management teams for exit presentations. 01:54 – Why Communication Matters Carola explains her shift from numbers to narratives and why people—not just slides—drive deal success. 02:49 – The Biggest Mistake Teams often prepare too little, too late—focusing on slides, not delivery or messaging. 04:15 – Rehearsal ≠ Training Rehearsals test flow. Training transforms behavior, delivery, team dynamics, and confidence. 06:41 – Crafting a Powerful Story From stats to storytelling—how real examples bring presentations to life and increase credibility. 09:35 – Even Experienced Execs Benefit Exit presentations are high-stakes. Even confident leaders gain clarity, alignment, and polish from coaching. 12:51 – Does it Really Move the Needle? Yes—Carola shares a real example where coaching turned around investor perception and revived interest. 14:47 – High Impact, Low Time Commitment Just a few focused sessions over weeks can significantly improve presentation outcomes. 16:14 – Three Keys to Success Storyline that resonatesCohesive team deliveryObjective, external feedback18:38 – Carola’s Recommended Reads & Listens 📚 Resonate, Slide:ology, Talk Like TED 🎧 Think Fast, Talk Smart, The Moth 📘 German: Quick Guide Management Presentation by Carola Kamuff 20:05 – Connect with Carola Find her on LinkedIn: Carola Kamuff Key Takeaway: Your management presentation can boost—or break—your valuation. Great slides aren’t enough. Confidence, storytelling, and preparation make the difference. 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.

    20 min

  8. 11/25/2025

    Data, Deals, and Disruption The Real AI Shift in Private Equity

    In this episode, Alex Rawlings speaks with Jamyn Edis, digital transformation expert, former VC-backed CEO, and NYU professor. Jamyn shares actionable insights on using AI, data, and automation to drive performance across private equity firms and their portfolio companies. From dynamic pricing models and A/B testing to agentic AI and accelerating product cycles, Jamyn explains how to cut through the hype, identify real opportunities, and turn AI into measurable value. ⏱️ Episode Highlights 00:00 – Meet Jamyn Edis 30+ years in consulting (Accenture), corporate (HBO, Take-Two), startups, and teaching at NYU. Focused on the intersection of tech, data, and private equity. 02:23 – Common Mistake in PE Most firms treat data as plumbing, not strategy. Shift from backward-looking reporting to predictive and prescriptive analytics. 03:48 – AI That Delivers ROI AI must be embedded into daily operations, not stuck in R&D. Productize, operationalize, and commercialize—or risk irrelevance. 05:15 – How AI Builds on Data AI is powered by historical data but creates forward-looking insights. Use it to improve pricing, marketing, and operations. 06:42 – Case Study: Take-Two Interactive Jamyn led data science initiatives to optimize pricing and marketing—replacing gut decisions with data-driven experimentation. 08:08 – AI as PE’s Next Value Driver AI is the new operating system for PE. After leverage and digital transformation, the next edge is intelligence at scale. 09:31 – Advice to PE Firms Skeptical? “Get out before the business gets out of you.” Overwhelmed? Start small, build prototypes, and focus on real use cases. 11:04 – Agentic AI in Action Jamyn shares examples of cutting development cycles, boosting campaign ROI, and improving customer service with AI agents. 13:26 – From Problem to Prototype Diagnose real pain points, create business and technical requirements, and build targeted AI tools that solve specific problems. 14:50 – AI Won’t Replace Humans, But... Those who use AI will outperform those who don’t. Jamyn explains Jevons Paradox and why productivity leads to new jobs. 18:46 – How Jamyn Diagnoses Opportunities Structured discovery process, stakeholder interviews, and clear roadmaps to identify where AI and tech can drive value. 22:10 – Every PE Firm Needs an AI Stack Soon, AI tools will be as essential as data teams or web developers. Invest now in people, platforms, and processes. 23:06 – The Future is AI + Human Judgment Firms that embed AI deeply—and pair it with operator judgment—will unlock the next generation of alpha. 24:21 – Jamyn’s Book: The Fifth Horseman An exploration of how AI mirrors humanity and transforms the way we live and lead. AI is trained by us—and reflects us. 29:07 – What Jamyn Reads & Recommends Books: The Hard Thing About Hard Things, Understanding Media Podcasts: Pivot, Ezra Klein TV: Succession – “Still the best corporate training program ever made.” 🔗 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.

    32 min
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About

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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