Best But Never Final: Private Equity's Pursuit of Excellence

Doug McCormick, Lloyd Metz, Sean Mooney

Join Doug McCormick from Oridian Capital Partners, Lloyd Metz from ICV Partners, and Sean Mooney from BluWave as they explore timely private equity topics and offer their seasoned perspectives on crucial areas of focus within the industry. Gain valuable insights from these industry experts in this engaging podcast tailored for PE professionals.

  1. 4d ago

    Private Equity Value Creation with Mary Rachide and Bob Hund

    Episode Description Mary Rachide, Managing Director at ICV Partners, and Bob Hund, Operating Partner at Oridian, join Sean Mooney, Lloyd Metz, and Doug McCormick to explain how operating executives help turn private equity value creation plans into results. They discuss how operating partners engage in diligence, align with founders and deal teams, and support portfolio companies through execution without losing trust. The conversation also covers process discipline, management assessment, stakeholder alignment, and the art of knowing when to coach versus when to push. This is a practical look at how modern private equity firms build better businesses—hit play. Episode Highlights 1:52 - Mary Rachide’s path from McKinsey and executive roles into PE operations 3:33 - Bob Hund’s engineering, manufacturing, and process background before Iridium 6:45 - How operating partners support diligence, strategy, and execution 9:59 - Aligning founders and investors around realistic value creation plans 18:52 - Using process assessments to identify risk and unlock improvement opportunities 26:50 - Mary’s “glue, grease, grit, and glitter” framework for operating partner impact 41:06 - Why the best operating executives take joy in helping others succeed For more information on the podcast, visit bestbutneverfinal.buzzsprout.com and embark on your journey to private equity excellence today. Visit us on LinkedIn at https://www.linkedin.com/company/best-but-never-final-podcast/ Visit us on Instagram at https://www.instagram.com/bestbutneverfinal/ For information on Oridian Capital Partners, go to https://oridiancapital.com/ For information on ICV Partners, go to https://www.icvpartners.com For information on BluWave, go to https://www.bluwave.net

    1h 2m
  2. May 12

    Private Equity and AI: From Hype to Portfolio Execution

    Lloyd Metz (Partner, ICV Partners), Doug McCormick (Managing Partner, Oridian Capital Partners), and Sean Mooney (Founder & CEO, BluWave) are joined by James Aylward (Chief Product & Technology Officer, BluWave) and Nathan Plummer (Co-Executive Director, Venture Café Global Institute) to translate AI from concept into execution. The conversation moves beyond buzzwords to where firms are actually applying AI today—from coding and data strategy to real-time decision-making inside portfolio companies. They also address the practical barriers: data readiness, organizational adoption, and the risk of standing still. This is a clear look at what it takes to put AI to work in private equity—hit play. Episode Highlights 1:30 - Why AI is shifting from buzzword to practical tool for operators 9:45 - ChatGPT as the inflection point that changed AI adoption overnight 13:00 - AI moves from “thinking partner” to executing tasks autonomously 18:30 - Applied AI in industries like biotech and robotics reshaping outcomes 23:10 - Data becomes the primary competitive moat across portfolio companies 30:15 - Why most companies struggle: fragmented, unstructured data systems 44:00 - Real-world example: automating hiring workflows with AI tools For more information on the podcast, visit bestbutneverfinal.buzzsprout.com and embark on your journey to private equity excellence today. Visit us on LinkedIn at https://www.linkedin.com/company/best-but-never-final-podcast/ Visit us on Instagram at https://www.instagram.com/bestbutneverfinal/ For information on Oridian Capital Partners, go to https://oridiancapital.com/ For information on ICV Partners, go to https://www.icvpartners.com For information on BluWave, go to https://www.bluwave.net

    57 min
  3. Apr 14

    Private Equity in 2026: Liquidity, Growth, and AI Execution

    Lloyd Metz (Partner, ICV Partners), Doug McCormick (Managing Partner, Oridian Capital Partners), and Sean Mooney (Founder & CEO, BluWave) assess the private equity landscape heading into 2026. They unpack the pressure to return capital, the realities of longer hold periods, and why growth—not multiple expansion—is now the primary driver of returns. The conversation also explores the accelerating impact of AI on dealmaking, operations, and portfolio company performance. This is a clear-eyed view of where private equity is headed next—hit play. Episode Highlights 2:00 - Liquidity pressure builds as distributions lag across the industry6:01 - Why market volatility stalled deal activity despite early momentum10:29 - Surge in diligence activity signals a delayed but real deal rebound12:02 - “12 is the new 5”: growth expectations reset for private equity returns17:46 - Shift toward add-ons and operational upgrades across portfolios23:09 - Manufacturing resurgence and reshoring create new investment themes38:18 - AI moves from concept to execution across firms and portfolio companiesFor more information on the podcast, visit bestbutneverfinal.buzzsprout.com and embark on your journey to private equity excellence today. Visit us on LinkedIn at https://www.linkedin.com/company/best-but-never-final-podcast/ Visit us on Instagram at https://www.instagram.com/bestbutneverfinal/ For information on Oridian Capital Partners, go to https://oridiancapital.com/ For information on ICV Partners, go to https://www.icvpartners.com For information on BluWave, go to https://www.bluwave.net

    50 min
  4. Mar 17

    Rollover Equity and the Power of True Alignment

    Doug McCormick, Managing Partner at HCI Equity Partners, and Lloyd Metz, Partner at ICV Partners, join BluWave’s Sean Mooney to explain why rollover equity sits at the center of private equity dealmaking. They break down the mechanics, tax advantages, and alignment dynamics that allow founders to take liquidity while remaining invested in future growth. The discussion also explores signaling, governance rights, and why investors pay close attention to how much an owner chooses to reinvest. If you want to understand why rollover equity drives many of the best outcomes in private equity, hit play. Episode Highlights 1:41 - What rollover equity means and why founders keep ownership after a sale 4:19 - Why private equity firms want management teams to reinvest 6:43 - The mechanics of tax-efficient rollover structures 10:27 - The compounding power of tax deferral in rollover investments 17:19 - Why founders often start playing defense before a transaction 21:28 - The signaling effect of how much equity an owner reinvests 32:02 - Creating wealth for management teams through equity participation For more information on the podcast, visit bestbutneverfinal.buzzsprout.com and embark on your journey to private equity excellence today. Visit us on LinkedIn at https://www.linkedin.com/company/best-but-never-final-podcast/ Visit us on Instagram at https://www.instagram.com/bestbutneverfinal/ For information on Oridian Capital Partners, go to https://oridiancapital.com/ For information on ICV Partners, go to https://www.icvpartners.com For information on BluWave, go to https://www.bluwave.net

    45 min
  5. Feb 17

    Private Equity Deal Teams and the Discipline to Win

    Lloyd Metz and Doug McCormick join Sean Mooney to break down what truly makes a private equity deal team effective—from associate to partner. They unpack how roles evolve across the deal lifecycle, how firms assign and staff opportunities, and why intellectual honesty, judgment, and trust determine whether capital gets deployed wisely. The conversation moves beyond modeling and process into risk appetite, negotiation discipline, and staying commercial under pressure. If you want a candid look at how winning private equity teams actually operate, hit play. 2:27 - The core roles inside a lower middle market private equity deal team 8:40 - Assigning deals: capacity, passion, and declaring your intentions 15:12 - What separates an exceptional associate from a competent one 22:10 - Balancing gas and brake: risk appetite inside the deal team 29:25 - Identifying deal breakers early and protecting against bias 34:20 - The shift from analyst to manager: what defines a strong VP 44:21 - From closing the deal to owning the outcome: integrating ops and value creation For more information on the podcast, visit bestbutneverfinal.buzzsprout.com and embark on your journey to private equity excellence today. Visit us on LinkedIn at https://www.linkedin.com/company/best-but-never-final-podcast/ Visit us on Instagram at https://www.instagram.com/bestbutneverfinal/ For information on HCI Equity Partners, go to https://www.hciequity.com For information on ICV Partners, go to https://www.icvpartners.com For information on BluWave, go to https://www.bluwave.net For more information on the podcast, visit bestbutneverfinal.buzzsprout.com and embark on your journey to private equity excellence today. Visit us on LinkedIn at https://www.linkedin.com/company/best-but-never-final-podcast/ Visit us on Instagram at https://www.instagram.com/bestbutneverfinal/ For information on Oridian Capital Partners, go to https://oridiancapital.com/ For information on ICV Partners, go to https://www.icvpartners.com For information on BluWave, go to https://www.bluwave.net

    52 min
  6. 12/23/2025

    Private Equity Operating Partners as Value Creation Translators with Mike Magliochetti

    Mike Magliochetti, Operating Partner at Riverside Partners and former multi-time PE-backed CEO, explains how operating partners create real value by bridging deal teams and portfolio company leadership. Drawing from three decades as an operator and his book Dancing Between the Toes of Elephants, Mike shares how trust, pattern recognition, and execution discipline shape better outcomes across diligence, governance, and growth. He also addresses deal fever, founder dynamics, and why serving outcomes—not egos—matters most. This conversation offers a clear-eyed view of modern private equity value creation—worth every minute. Get Mike's Book at https://www.amazon.com/Dancing-Between-Toes-Elephants-Experience/dp/1964421136 For more information on Riverside Partners, go to https://riversidepartners.com/ For more information on Mike Magliochetti, https://www.linkedin.com/in/michael-magliochetti-9905371 For more information on the podcast, visit bestbutneverfinal.buzzsprout.com and embark on your journey to private equity excellence today. Visit us on LinkedIn at https://www.linkedin.com/company/best-but-never-final-podcast/ Visit us on Instagram at https://www.instagram.com/bestbutneverfinal/ For information on Oridian Capital Partners, go to https://oridiancapital.com/ For information on ICV Partners, go to https://www.icvpartners.com For information on BluWave, go to https://www.bluwave.net

    43 min

Trailer

5
out of 5
16 Ratings

About

Join Doug McCormick from Oridian Capital Partners, Lloyd Metz from ICV Partners, and Sean Mooney from BluWave as they explore timely private equity topics and offer their seasoned perspectives on crucial areas of focus within the industry. Gain valuable insights from these industry experts in this engaging podcast tailored for PE professionals.

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