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. 5D AGO

    The Real Due Diligence | What Makes or Breaks a Deal

    🎙️ The Private Equity Podcast — Episode with Cyril Aboujaoude, Co-Founder of TioPo Capital In this episode, Alex Rawlings is joined by Cyril Aboujaoude, Co-Founder of TioPo Capital, a hands-on private equity firm investing in SMEs across the UK and France. Cyril shares the journey of launching TioPo, their operationally driven approach to investing, and how young, entrepreneurial grit fueled their path from deal number one to a thriving portfolio. They explore the nuances of deal origination, value creation, and the power of people in private equity. From ERP frustrations to navigating downturns and structuring creative deals, Cyril breaks down the real-world lessons of building a firm from scratch—while staying laser-focused on operational excellence. ⏱️ Timestamps: 00:03 – Introduction to Cyril Aboujaoude and TioPo Capital’s mission 00:30 – TioPo’s founding story, operational mindset, and portfolio growth 01:24 – What TioPo really looks for beyond standard investment criteria 01:57 – The importance of vision alignment and execution capability 03:24 – How they assess management teams during diligence 04:35 – Why slow decision-making is riskier than a bad hire 05:29 – Biggest value creation levers: hiring an operating partner over fundraising 06:46 – Building a 100-day transformation plan post-deal 07:45 – One thing target companies should fix pre-investment: ERP systems 08:55 – How TioPo evaluates companies during downturns and market volatility 10:20 – Analyzing long-term performance and identifying macro-inflated businesses 12:51 – Most creative deal structure: partnering with the seller’s son as CEO 14:50 – Reflections on the challenges and naivety of doing their first deal 16:11 – Cyril’s top recommendations: FT, WSJ, Aswath Damodaran, and local gazettes 17:10 – How to connect with Cyril and learn more about TioPo Capital 🔑 Key Takeaways: People over projections: Execution ability, humility, and shared vision are more important than just strategy.Operations-first philosophy: Value is built in the engine room—TioPo hires operating partners before fundraising staff.100-Day Plan Discipline: They begin value creation planning during diligence, long before Day 0.ERP readiness = smoother scale: ERP systems are the most overlooked growth barrier.Smart structuring builds trust: Their first deal involved bringing in the founder’s son as CEO and co-investor.Past ≠ future, but it’s all we’ve got: Cyril emphasizes analyzing 20+ years of company performance to identify real resilience.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

  2. OCT 28

    How Private Equity Can Win With AI-Driven Hiring | Greg Nieuwenhuys

    Guest: Greg Nieuwenhuys – PE Operator & Founder, Generative AI Strategy Host: Alex Rawlings – CEO, Raw Selection 🔍 Episode Summary: Greg Nieuwenhuys returns to share a practical, step-by-step AI Playbook for hiring. From writing job descriptions to automating follow-ups, Greg breaks down how PE firms and portfolio companies can integrate generative AI into recruitment. Packed with tools, tactics, and workflow tips, this episode is a must-listen for anyone looking to hire faster, smarter, and with less bias. 🕒 Key Timestamps: 00:00 – Intro & Why AI in Hiring Matters Speed, accuracy, and competitive advantage in recruitment. 01:25 – Greg’s Background CEO in multiple PE-backed firms; now leads Generative AI Strategy. 05:17 – Where AI Improves Hiring From job specs to onboarding, AI supports every stage. 06:43 – Quick Wins Write job descriptions in minutes using ChatGPTUse AI note-takers for transcripts & summaries (e.g. Fireflies)Screen CVs faster & more objectively09:58 – Tools Greg Uses ChatGPT, Fireflies, Perplexity, Zapier, N8n 12:43 – Building Automation Without a People Team Use Zapier or N8n to connect email, CRM, and AI tools. 14:35 – Custom GPTs & Human Oversight Create consistent outputs and reduce manual work—always review. 18:25 – Using AI for Better Decision-Making Compile notes, CVs, and feedback to spot gaps & flag concerns. 19:21 – Interview Coaching & Advanced Tools Assessio: Team chemistry predictionFinalRound AI: Candidate coaching toolOvida: Feedback on communication style23:06 – Better Candidate Outreach Use AI to create relevant, personalized messages. 25:02 – Improve Candidate Experience with Automation AI-written follow-ups, regular updates, CRM reminders. 27:55 – Greg’s AI Stack ChatGPT, Gemini, Claude, Zapier/N8n, Fireflies, Perplexity 29:24 – AI Makes You a Better Human Use tools like Ovida to improve interviewing skills & self-awareness. 💡 Takeaways: Start simple: job specs, summaries, feedback emailsDon’t over-engineer—focus on solving real bottlenecksTrain hiring managers with AI-generated insightsImprove candidate experience with speed & clarity📲 Connect with Greg: LinkedIn – Greg Nieuwenhuys 🌐 www.thegregstar.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.

    33 min

  3. OCT 21

    Inside Alpine Investors: How Mark Strauch Scales Leadership to Drive 1,000+ Deals

    🎙️ The Private Equity Podcast – Mark Strauch, Founding Partner & President, Alpine Investors ⏱️ Key Takeaways & Timestamps: 00:00 – Intro Alex welcomes Mark Strauch to discuss Alpine’s unique leadership-driven approach in private equity. 01:00 – From CEO to PE Leader Mark shares his journey from operator to co-founding Alpine, now with $20B+ AUM. 02:08 – The Industry’s Problem: Lack of Differentiation Alpine avoids the “deal shop” model, focusing instead on mission-driven, talent-led investing. 05:24 – Talent as Strategy Alpine’s core philosophy: talent wins. Their “Unleashing Heroes” mantra puts leadership at the heart of every investment. 06:50 – Add-On Acquisitions at Scale Over 1,000 deals to date, using each as an opportunity to deploy great talent and drive integration. 08:39 – Alpine’s Internal Playbook Quarterly OFI (Opportunities for Improvement) projects, one-page strategic plans, and a long-term vision define how Alpine operates like a portfolio company. 10:59 – Lessons from Failure Fund 1 struggled, prompting a shift to talent-first strategy during the 2008 crisis, guided by executive coach Tom Vacola. 15:00 – Building the CEO Bench Programs like CEO-in-Residence and CEO-in-Training (CIT) bring in and develop top talent—Alpine is now the top recruiter at elite business schools. 18:31 – Attributes Over Resumes They hire for grit, humility, and emotional intelligence—qualities highly correlated with CEO success. 20:00 – Real-Time Leadership Development CITs train on the job with structured learning in both hard and soft skills, plus internal peer-learning pods. 24:00 – What Great CEOs Do Traits include pace, clarity, resilience, focus, and the ability to inspire and win. 27:37 – Alpine’s Ongoing Constraint: Talent Even now, talent remains the #1 priority across Alpine and its talent-constrained portfolio sectors. 30:47 – Lessons in Building Alpine Create a strategy only you can win—play a different game, not the same one better. 32:38 – Operator Empathy = Better Investing Being a former CEO helps Mark bring realism and focus to underwriting and board roles. 34:05 – Book & Coaching Insights Recent reads include Boyd, The Bible, and classic philosophy. Coaching tip: great coaches help you unlock your own answers. 39:50 – Connect with Mark 💼 Alpine Investors 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.

    41 min

  4. OCT 14

    How Amias Gerety Wins in Venture When Others Chase Hype

    In this episode, Alex Rawlings speaks with Amias Gerety, Partner at QED Investors, a leading fintech-focused VC firm managing nearly $1B in assets. Amias shares insights on venture capital strategy, staying disciplined during market hype, sourcing deals, and how lessons from his time at the U.S. Treasury shape his investment decisions today. ⏱ Episode Highlights: 00:00 – Intro & QED Overview QED’s structure, fintech focus, and global reach. 01:20 – VC Mistakes & Market Hype The danger of "paying ahead of growth," especially in AI. 03:12 – Staying Disciplined Simple metrics and historical heuristics that guide better investment decisions. 04:39 – Deal Dynamics in VC vs PE Why proprietary deal flow in VC means getting in early — before companies start raising. 07:26 – Hunting vs. Gathering How QED targets specific companies instead of waiting for inbound deals. 08:51 – Building Relationships Top-heavy structure means founders speak directly with partners on the first call. 14:43 – Using Senior Talent Early Deploying high-value advisors like Capital One co-founder Nigel Morris from the start. 16:09 – Biggest Mistake in Venture Ignoring founder misalignment — “If it’s a maybe, it’s a no.” 18:25 – CEO Ownership in Startups Why QED avoids deals where founders don’t have control — unlike PE’s model. 20:43 – Operating Partners in VC VC success comes from entrepreneurial operators who aim to join portfolio companies. 24:31 – Honest Career Advice Be clear about whether you want to be an operator or an investor — ambiguity causes misalignment. 25:59 – Treasury Lessons Decision-making under pressure during the financial crisis informs his bold, data-light approach in VC. 30:12 – What He Reads Only old books — for timeless thinking and unexpected insights. 31:46 – Connect with Amias Reach out via LinkedIn. Amias offers a rare perspective bridging government, fintech, and venture capital — a must-listen for anyone navigating today’s competitive investing landscape. 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.

    32 min

  5. OCT 7

    Why Outsourcing Fund Admin Is the Smartest Move PE Leaders Can Make in 2025 With Michael Von Bevern

    Episode Overview In this episode, Alex Rawlings welcomes Michael Von Bevern, Co-Managing Director for Sunterra Fund Services, to discuss the evolving landscape of fund administration in private equity. Michael shares nearly two decades of experience, working with over 500 fund managers, and offers invaluable insight into common mistakes first-time managers make, the growing role of fund administration, and why outsourcing has become the gold standard for operational efficiency and investor confidence. 🔑 Key Discussion Points 00:00 – Introduction Michael Von Bevern introduces his role at Sunterra Fund Services and his extensive background in fund administration. 01:00 – Common Mistakes First-Time Managers Make Trying to be overly creative with fund terms and waterfall structures.The importance of staying aligned with industry-standard terms in the first fund.Complexity can hurt comparability for institutional investors.03:00 – The State of Capital Raising Capital raising is particularly tough right now.Institutional investors require clarity, standardization, and comparability.Advice: Stick to well-known structures and build trust first.04:00 – Why Outsourcing Fund Administration is Crucial Fund administration has evolved from an internalized process to a norm for outsourcing.Early resistance was based on trust and control issues.Outsourcing offers scalability, access to high-end tech, and cost advantages.06:30 – In-House vs. Outsourced Fund Admin Outsourced teams can mirror internal teams in quality and responsiveness.Modern fund admin is more than just accounting—it's a strategic enabler.Today, ~80% of PE firms outsource, up from 50% in 2016.09:00 – Why Private Equity Firms Hire from Fund Admin Firms Fund admin professionals gain holistic knowledge: legal docs, accounting, operations, strategy.They're “multi-tools” vs. siloed specialists.Michael celebrates when former team members go on to run their own funds—and even become clients.12:00 – What Makes a Gold Standard Fund Admin? Real-time access to quality data and timely reporting.Transparent, responsive communication.Strong tech + strong people = winning formula.13:30 – The Shift Toward Data Accessibility Gone are the days of black-box reporting.Modern fund admins provide daily access and reconciliations.The focus now is on improving affordability and automation.14:30 – Michael’s Recommendations Reads: Preqin, PitchBook, newsletters.Follows thought leaders like Howard Marks (Oaktree).Active in ILPA and New York's PE ecosystem.16:00 – Market Trends Observed Through Fund Admin Fundraising in 2023-24 has slowed, with private credit outperforming PE.Saturation from 2021–22 launches is causing fatigue.Prediction: Q4 2025 to Q1 2026 will see a strong rebound in fundraising.18:30 – How to Reach Michael Website: sunterra.comOpen to DMs and happy to refer prospective clients even if Sunterra isn’t the best fit. 🔗 Connect with Alex Rawlings on LinkedIn: [https://www.linkedin.com/in/alexrawlings/](https://www.linkedin.com/in/alexrawlings/) 🌐 Visit Raw Selection: [www.raw-selection.com](https://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

  6. SEP 30

    Inside the LP Mindset & Mastering Co-Investments | Joe Basrawy, Partners Capital

    In this episode, host Alex Rawlings is joined by Joe Basrawy, Managing Director at Partners Capital, a global multi-asset investment firm serving some of the world's most sophisticated investors — including private equity founders, endowments, and family offices. Joe offers a rare and in-depth look at the Limited Partner (LP) perspective — covering common pitfalls private equity firms make, what LPs are really looking for, and how to stand out in a crowded market. He also shares a masterclass on co-investments, including how LPs assess alignment, avoid adverse selection, and punch above their weight in deal flow. This episode is packed with actionable insights for fund managers, deal professionals, operating partners, and anyone looking to better understand what makes a top-performing PE firm in the eyes of institutional investors. ⏱️ Timestamps: 00:00 – Welcome and guest intro: Joe Basrawy, Managing Director, Partners Capital 01:00 – Joe’s background: From investment banking to multi-asset investing 01:25 – What drew Joe to Partners Capital and what’s kept him there 02:21 – Biggest mistakes PE firms and portfolio companies make 03:15 – Raising too much capital: Overstretching and going off-spec 04:13 – Deal-level diversification: What LPs want to see 05:39 – Co-investing 101: Why it's attractive and the risks of adverse selection 06:37 – How LPs like Partners Capital avoid adverse selection in co-investments 07:33 – Being a reliable and speedy co-investment partner 08:31 – Why LPs say “no” to co-investments — alignment, conviction, and deal partners 09:57 – Referencing employees and internal conviction in deals 10:56 – What makes the best private equity firms? Joe’s four pillars 11:25 – #1: Strategy differentiation – A case study in healthcare PE 13:22 – #2: Value creation edge – Organic growth vs market tailwinds 15:18 – #3: Ownership dynamics – How GP stake sales affect firm culture 17:15 – #4: People – Why leadership and succession planning matter 19:05 – Referencing portfolio executives: The most revealing feedback 20:28 – What LPs learn from talking to portfolio CEOs 21:56 – What LPs look for in fund managers – Discipline, detail, and passion 23:52 – Joe’s reading recommendations – Fiction and finance 25:47 – How to connect with Joe 26:17 – Outro from Alex 📘 Recommended Reading by Joe Basrawy: The Children Act by Ian McEwan (also a film adaptation with Emma Thompson)The Money Kings – History of Jewish-American families who founded Wall Street firms🔗 Connect with Joe Basrawy: LinkedIn (search Joe Basrawy)Partners Capital Website  Looking to grow your team? Check out our Hiring Guides  for proven strategies, templates, and best practices to make smarter hires.

    26 min

  7. SEP 23

    Operating Partners Are the Future of Private Equity | Jeremiah Wanzell on Consumer Brand Growth

    In this episode, Alex Rawlings is joined by Jeremiah Wanzell, a seasoned consumer brand executive with leadership roles at Hugo Boss and Calvin Klein, and now an operating partner working with private equity firms to drive growth in the consumer sector. Jeremiah shares his insights into the evolving role of the operating partner, value creation beyond financial engineering, the importance of omnichannel strategy, and how consumer-focused PE firms can win in a shifting market. ⏱️ Timestamps 00:03 – Intro & Background Jeremiah's career journey: from Bloomingdale’s to Hugo Boss & Calvin KleinLaunching Growth Mindset Advisors to work with PE firms as a fractional growth officer00:57 – Mistakes Private Equity Firms Make Misunderstanding or undervaluing the role of the operating partnerValue creation needs real operators, not just consultantsPE firms still testing the waters, especially in the lower/mid-market03:44 – Why the Operating Partner Model Isn’t Universal Yet Too often operating partners are brought in post-acquisition — a critical mistakeThey need to be involved from the outset to shape value creation plans05:12 – Case Study: Capizio Acquisition Deal thesis: investing in niche category leadersBrought the deal to Argonne after another firm passedRole: pre-deal diligence, channel expansion, post-deal advisory07:07 – What Deal Teams Miss Overlooking multi-channel retail strategyExamples: Nike’s failed DTC push vs. Allbirds’ slow wholesale expansionOmnichannel is no longer optional09:32 – Industry Shoutout: Grata Sponsor mention for proprietary, data-driven PE deal sourcing09:58 – State of Consumer Deals Deal volume down 15% YoY, but deal size upHighlighted mega deals: Skechers ($9B), Dick’s x Foot Locker, Rode BeautyHot sectors: health & wellness, beauty, and digitally native brands11:27 – Tariffs & Pricing Strategy Tariff uncertainty is a headwind but affects all brands equallyBrands must have clear differentiation and pricing transparencyExamples: airlines as commoditized vs. a loyal landscaper who passed along cost savings15:14 – Great Retail Experiences Retail “theater” matters more than everExamples: Vuori, Lululemon, building community through in-store eventsIt all starts with product excellence17:32 – Evolution of DTC & Shopify’s Disruption Apple iOS14 killed third-party tracking; CAC skyrocketedShopify commoditized eComm site creation → flooded market with undifferentiated brandsStubborn brands (e.g. Allbirds) suffered by not adapting18:59 – Retail Experience Examples Retail must build community and be about more than transactionsBrands that create loyalty through events and authentic connection win19:51 – What Jeremiah Recommends Fan of The Private Equity Podcast and Scott GallowayEncourages reading, webinars, and giving back to your network 🔗 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.

    21 min

  8. SEP 16

    How Top Talent & Consumer Trends Drive $1.3B Growth With William Quartner

    🔹 Episode Overview: In this episode, we’re joined by William Quartner, Partner at Prelude Growth Partners, a New York-based private equity firm dedicated to the high-growth consumer space. William shares insights from his impressive journey through investment banking and private equity at firms like Goldman Sachs and TowerBrook Capital, to now helping build Prelude Growth from its inception to the recent close of Fund III. He explores critical investment lessons, the importance of talent, consumer industry trends, and the real-life challenges and rewards of building a PE firm from the ground up. 00:00 – Intro to William Quartner  & Prelude Growth Partners William’s background: Goldman Sachs, TowerBrook, and JP MorganPrelude’s focus: high-growth consumer sectors like beauty, health & wellness, pet, baby, and food/beverageJust closed Fund III – now managing $1.3B in AUM02:24 – Common Mistakes in PE & Consumer Investing Misunderstanding the type of risk (product, category, brand, execution)Lack of clarity on risk-return profile per categoryUndervaluing the importance of top-tier talent in portfolio companies05:18 – Evaluating Talent and Leadership Differences between a great founder/CEO and an average oneImportance of building the right team earlyPartnership model: working closely with founders as a minority investor07:41 – Passion for the Consumer Industry How deep focus and passion improve investment intuitionRecognizing industry "tourists" vs committed insidersBenefits of building a tight, focused ecosystem09:39 – Lessons from Goldman Sachs & TowerBrook Seeing institutional rigor and processLearning high-standard due diligence and underwritingWanting to work up the risk curve and help build something from scratch11:29 – The Startup Journey of Prelude Growth From $85M in Fund I (2018) to $600M in Fund III (2025)Early-stage scrappiness and challengesMost rewarding part: building a recognized brand and seeing portfolio companies become category leaders16:55 – Current Consumer Industry Trends & Outlook Growth brands more insulated from macro headwindsTariff uncertainty and its impact on planningStrategic reshuffling by large CPG players creating investment opportunitiesConcerns around consumer debt and buy-now-pay-later risksLP skepticism toward consumer-focused funds, but Prelude bucks the trend20:35 – Content Recommendations Podcasts: Pivot (Kara Swisher & Scott Galloway), Acquired, SmartLessBusiness newsletters: Axios Pro Rata, Term SheetSubstack content for niche consumer insights21:32 – How to Connect with William 📧 Email: will@preludegrowth.com 🔚 Closing Thoughts: William offers a masterclass in consumer investing; from risk frameworks and talent strategy to fundraising and sector specialization. His journey from major institutions to entrepreneurial investing highlights the power of clarity, conviction, and cultural fit in PE. 🔗 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
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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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