Shows
Private Equity ExperienceIs 40% of Private Equity About to Disappear?đ Is the Private Equity model fundamentally broken, or is it just a pause?In this episode of the Private Equity Experience, hosts Ed Barton, Rory Liebhart, and Emily Sander dive deep into the "structural reset" currently hitting the industry. Based on recent data from Cascadia Capital, the team debates whether the recent slowdown is a temporary cyclical pause or a permanent shift in how private equity operates.Inside this episode:The Family Business: Ed shares a personal update on hiring a "nepo baby" to navigate a challenging tax season.Structural Reset vs. Cyc...
2026-02-1938 minPrivate Equity ExperienceIs Private Equity Optimizing the Business or the Playing Field?Does private equity just optimize businesses, or does it optimize the entire playing field? đ In this episode of The Private Equity Experience, Emily Sander, Ed Barton, and Rory Liebhart pull back the curtain on the "sophisticated" world of public policy and lobbying.We dive deep into how private equity firms use their outsized weight to influence laws, regulations, and tax codes to protect their returns. From the famous (and controversial) carried interest tax treatment to "rent-seeking" strategies that create obstacles for competitors, we explore the tools PE firms use to ensure their portfolio companies stay on top.
2026-02-0532 minPrivate Equity ExperienceIs "Family Capital" the New Private Equity?In this episode of the Private Equity Experience, Emily Sander, Ed Barton, and Rory Liebhart dive into the secretive and rapidly growing world of family offices. Think Private Equity is the only big player in town? Think again. In our latest episode of the Private Equity Experience, weâre pulling back the curtain on the $5.5 trillion world of Family OfficesFrom 40-year investment horizons to the "poaching" of top Wall Street talent, family offices are changing the rules of the game for founders and investors alike.In this episode, we discuss:đ° Why family offices are b...
2026-01-2241 minPrivate Equity ExperiencePrivate Equity in 2026: AI, Rates & Survival StrategiesDive into the future of private equity with hosts Rory Liebhart, Emily Sander, and Ed Barton! In this episode, they break down the top trends shaping 2026, from AI's impact on labor to soaring interest rates and deglobalization. Learn how PE firms are adapting to these challenges, what it means for founders and investors, and hear their bold sports predictions for the year!đ Subscribe for expert insights and hit the bell to stay ahead in the PE world!Key Topics Covered:-Interest Rates & Private Equity Strategies: How rising rates affect leverage, deal-making, and ref...
2026-01-0836 minPrivate Equity ExperiencePrivate Equity Unpacked: Lessons from Writing "On Ramp to Exit"Dive into the world of private equity with hosts Rory Liebhart, Emily Sander, and Ed Barton! In this episode of The Private Equity Experience Podcast, the trio discusses their groundbreaking book On Ramp to Exitâa no-nonsense guide to navigating PE transactions, avoiding pitfalls, and preparing for the future. Learn why they wrote the book, their personal stories from the trenches, and their predictions for AIâs impact on private equity in 2026. Whether youâre a founder, investor, or curious professional, this episode is packed with actionable insights. Donât miss their plans for live case studies and guest intervie...
2025-12-2530 minPrivate Equity ExperienceNIL on Steroids: PE is Taking Over College Athletics!In this trending topic episode of the Private Equity Experience Podcast, hosts dive into the explosive intersection of private equity (PE) in college sports. Fueled by NIL deals, revenue sharing, transfer portal chaos, and massive TV rights contracts, college athleticsâespecially college football and basketballâis on the brink of a PE revolution. Is the Big Ten "selling its soul"? Could Notre Dame sell 10 years of TV rights for $2.8B? The team unpacks how PE could transform conferences like the SEC, Big Ten, Big 12, and ACC, boost efficiencies, and reshape the "student-athlete" model. Predictions: PE investments within the next year...
2025-11-2731 minPrivate Equity ExperienceHow PE Turns Hot Founders into Giants in 18 MonthsDiscover the secret sauce behind private equity (PE) growth strategies! In this episode, Emily Sander, Rory Liebhart, and Ed Barton break down why PE firms target founder-led businesses and reveal the tactical playbooks to scale them. From "buy low, sell high" foundations to aligning visions, unlocking growth through talent/capital infusion, and leveraging technology, they cover it all. Youâll learn how PE turns underperforming businesses into high-performing powerhouses in 18â72 months. Perfect for founders, business owners, and growth hackers!đ Key Topics Covered:đ Why founder-led companies are PEâs favorite acquisitions (spoiler: itâs all about untapped...
2025-11-1338 minPrivate Equity ExperienceEA Sports' $55B PE Acquisition: The WORLD'S BIGGEST Gaming LBO Explained!Breaking news! Electronic Arts (EA) â the studio behind FIFA, Madden, and Battlefield â is being acquired in the largest-ever private equity buyout ($55B! Katie stuns at the size of the deal). In this episode, we break down:â
How Leverage Buyouts (LBOs) work (Roryâs $500k house analogy!) âď¸ The players: Saudi Arabiaâs Public Investment Fund + Jared Kushnerâs PE firm + Silver Lakeâ
EAâs $5B revenue surge, subscription model, and eSports addictionâ
The real question: Do investors see a $55B gaming empire or a ticking time bomb?đ Regulatory delays (deal closes in 2027!) đ Future predictions: 7-10 year hold + IPO exit
2025-10-3021 minPrivate Equity ExperienceFive Founder Fails: Navigating Private EquityIn this 35âminute episode, the hosts break down the five most common pitfalls that founders face when they bring a privateâequity (PE) firm aboard. From overlooked deal structures to the emotional reality of an eventual exit, the conversation is packed with hardâwon lessons, humorous anecdotes, and actionable advice for entrepreneurs who are looking to or already in a PE partnership.âA founderâs job is to build a company. A PE partnerâs job is to unlock valueâso you need to know the difference.â â Ed BartonNavigating private equity is less about groundbreaking inn...
2025-10-1634 min
Leveraging LeadershipTransforming Leadership Meetings with the Flash Report: Insights from CEOs, CFOs, and CoSsEmily, Ed, and Rory break down how to use a Flash Report to keep leadership teams aligned and focused on key business metrics. They give a real example of a Flash Report, show how it highlights things like cash, sales, and training completion rates, and explain why keeping it simple matters. The episode covers choosing the right KPIs, what to include in the written updates, and how the Flash Report improves transparency and better questions from private equity partners.Links Mentioned:Previous Leveraging Leadership episode on the Flash ReportEd Bartonâs guest spot on...
2025-10-1556 minPrivate Equity ExperienceThe AI Revolution in Private Equity: Diligence, Operations, & Value Creation | PE + AIArtificial Intelligence (AI) is no longer a futuristic conceptâitâs actively reshaping the landscape of Private Equity (PE) right now. In this canât-miss episode of The Private Equity Experience, hosts Emily Sander, Ed Barton, and Rory Liebhart dive deep into how AI is creating immediate, tangible value in the PE ecosystem.The discussion kicks off with a rapid-fire round of questions about trusting AI in our personal lives, but quickly moves to how AI is transforming core business functions.In this episode, you will learn:Operational Engine...
2025-10-0237 minPrivate Equity ExperienceWhy Private Equity LOVES the Flash Report (And You Should Too)In this episode, hosts Emily Sander, Ed Barton, and Rory Liebhart dive deep into one of the most powerful tools for leadership teams and private equity-backed companies: The Flash Report.What Youâll Learn:What a Flash Report is and why itâs a game-changer for leadership transparency and decision-making.How to structure a Flash Report using frameworks like Balanced Scorecard, OKRs, or EOS.Why Flash Reports improve communication with boards, investors, and internal teams.Real-world examples of key metrics and narrative sections that make Flash Reports effective.How to avoid common pitfallsâlike overcomplication or incons...
2025-09-1855 minPrivate Equity ExperienceIs Private Equity Too Big to Fail?Welcome to another insightful episode of The Private Equity Experience podcast! In this episode, Emily Sander, Ed Barton, and Rory Liebhart dive into the controversial question: Is private equity too big to fail? As they discuss the parallels between the banking industry's "too big to fail" concept and private equity's massive influence, they explore the implications for investors, companies, and the broader economy.Key Topics Covered:What does "too big to fail" mean for private equity?The role of private equity in the economy and employment.Historical precedents and lessons from past financial crises.Potential triggers...
2025-09-0438 minPrivate Equity ExperiencePE's Secret Weapon? How Operating Partners Drive ReturnsIn this episode of the Private Equity Experience Podcast, we dive into the critical role of operating partners in private equity funding and their impact on the dilution of investment value. Hosts Emily Sander, Rory Liebhart, and Ed Barton break down how operating partners bridge the gap between PE firms and portfolio companies, offering tactical expertise, strategic oversight, and operational efficiencies. From CFOs and CTOs to turnaround specialists, discover why these professionals are a game-changer for PE returns and how they help mitigate risks in high-stakes investments.Key Topics Covered:What are operating...
2025-08-2135 minPrivate Equity ExperiencePrivate Equity in 401(k)s: A Risky Bet or a Game-Changer?Description:Tune in to the Private Equity Experience Podcast as we dive into the increasingly controversial topic of private equity making its way into 401(k) retirement accounts. This episode explores the latest developments, including Senator Warren's strong concerns and the potential risks associated with adding illiquid and volatile assets to employee retirement savings.Key Takeaways:Senator Warren's Stance: We discuss Senator Warren's critical letter to Empower, highlighting concerns about transparency, high fees, and liquidity risks associated with private equity offerings in managed 401(k) accounts.The Allure...
2025-08-0739 minPrivate Equity ExperienceRollin' Up Value: The Strategy & Risks of Private Equity Rollup MergersOverview:Â In this episode of The Private Equity Experience, Emily, Rory, and Ed dive into the world of rollup mergers in private equity. Rollup mergers involve acquiring and consolidating multiple smaller companies in the same industry to create a larger, more efficient entity. The hosts discuss the intricacies, challenges, and potential pitfalls of this strategy, providing insights into how private equity firms can navigate these complex transactions successfully.Key Discussions:Understanding Rollup Strategies:A rollup strategy involves acquiring and integrating multiple businesses in the same industry to achieve economies o...
2025-07-2438 minPrivate Equity ExperienceLeveraged Buyouts Uncovered: Private Equityâs High-Stakes GameIn Episode 15, hosts Emily Sanders and Rory Liebhart delve into the world of Leveraged Buyouts (LBOs), examining how private equity firms and other entities utilize substantial debt to acquire companies. Joined by expert Edward Barton, the conversation examines the mechanics of an LBO, its benefits and substantial risks, including cash flow pressure and covenant breaches. The episode also addresses why the current private equity market is experiencing a "log jam" due to factors like high valuations from past years and rising interest rates.Key Takeaways & Discussion Highlights (Leveraged Deal Structure)What is...
2025-07-1037 minPrivate Equity ExperienceThe Dilution Dilemma: Navigating the World of Equity FundingIntroduction to Equity Dilution and Its Impact on InvestorsEquity Dilution Definition: Occurs when a company issues new shares to raise capital, leading to a decrease in the ownership percentage of existing shareholders.Founder's Perspective: Founders often face the decision of whether to retain complete control over their company or raise capital by accepting dilution, which can significantly impact their future earnings and control.Key Stakeholders: Includes founders, employees, and investors who are all affected by dilution.đĄ Understanding the Mechanics of...
2025-06-2631 minPrivate Equity ExperienceRaising Capital 101: Insights from Seasoned PE ProsDescription:In this episode, we explore the various types of funding rounds that a startup or business can undergo, ranging from angel investing to private equity buyouts. Our guests, Emily Sander and Rory Liebhart, are joined by Ed Barton, who shares his expertise on the private equity side.Key Takeaways:Angel investing: This refers to the initial round of funding, typically provided by high-net-worth individuals or family offices. It's a high-risk, high-reward investment, and the investor typically seeks a 10- to 20-fold return on investment.Pre-Series A: This is the next round of...
2025-06-1244 minPrivate Equity ExperiencePrivate Equity vs. Private Credit: Demystifying the Capital Stack, Risk, and ReturnsIn this episode, we dive into the world of private credit and its relationship with private equity. Our hosts, Rory, Emily and Ed, share their expertise on the differences and similarities between these two asset classes.Key Takeaways:Private credit refers to debt financing that is not publicly traded and is typically provided by private companies or investors.Private credit is not a new phenomenon, but its terminology has become more prominent in recent years as a separation from traditional banking and debt financing.Private credit is often used in...
2025-05-2934 minPrivate Equity ExperienceTariffs, Trapped Equity, and the PE Tightrope: Navigating Uncertain MarketsSummary:In this episode, the hosts discuss the current economic environment, tariffs, and their impact on private equity. They also explore the concept of "trapped equity" and how it affects private equity firms. The conversation touches on the uncertainty created by tariffs, the risk premium required, and how it changes the dynamics of buying and selling assets.Key Takeaways:Tariffs create uncertainty: Tariffs lead to uncertainty, which can result in inaction and trepidation among investors and private equity firms.Trapped equity: Trapped equity refers to assets that...
2025-05-1537 minPrivate Equity ExperienceThe PE Leadership Gambit: What Happens to the C-Suite After Acquisition?What happens to leadership teams when private equity enters the picture? In this revealing episode of The Private Equity Experience, Emily Sander, Rory Liebhart, and Ed Barton discuss the dramatic shifts that occur when PE firms acquire companies. Drawing from their battle-scarred experiences, they explore how founders navigate new stakeholder relationships, why CFOs often become CEOs, and the critical importance of meeting financial covenants. Learn why "business as usual" isn't an option, why flash reports become non-negotiable, and how to identify hidden talent during reorganization. Whether you're a founder considering a PE partnership or an executive navigating post-acquisition waters...
2025-03-0732 minPrivate Equity ExperienceCracking the Code on Private Equity Valuations: Understanding the Art and Science of M&A DealsThis episode of The Private Equity Experience dives deep into the crucial and often dramatic world of business valuation in private equity deals. Hosts Emily Sander, Rory Liebhart, and Ed Barton explore the complexities, emotions, and strategic considerations determining a company's worth during the "buy phase." They discuss key valuation methodologies (revenue multiples and EBITDA multiples), the importance of revenue recognition, and how "corporate hygiene" (organized and accurate financial records) directly impacts perceived risk and, ultimately, the final valuation. The hosts emphasize that getting the valuation right is paramount, as it sets the tone for the entire private equity ho...
2025-02-2029 minPrivate Equity ExperienceUnderstanding the Private Equity Ecosystem: VC, Series Funding, and PE FirmsIn this informative episode of the Private Equity Experience podcast, hosts Emily Sander, Rory Liebhart, and Ed Barton break down the complex world of private equity, venture capital, and series funding. Learn the differences between VC and PE firms and how to navigate the ecosystem to secure funding for your startup. Discover the importance of assembling a strong team of advisors and resources, including investment banks, financial advisors, and startup accelerators like Y Combinator and Startup Grind. Get insights on preparing for private equity investment and learn about essential books like "On Ramp to Exit" that can help you...
2025-02-0633 minPrivate Equity ExperienceIs Incorporating In Delaware Still A Good Idea?Description: Delaware has been the go-to state for incorporating businesses due to its business-friendly environment, strong case law, and lack of business taxes.The recent court case involving Elon Musk's compensation package has raised questions about Delaware's predictability and has prompted some companies to consider alternative states like Texas, Wyoming, and Nevada.While Delaware will likely remain a popular choice for incorporation, especially for larger companies, the changing landscape prompts companies to consider their options and consult with legal and financial advisors.Businesses must focus on their core operations while being aware of...
2025-01-3033 min