Private Equity Podcast: Karma School of Business

Latest Episodes:

Scaling Consumer Brands: Jared Stein's Approach to Growth and Loyalty Sep 24, 2025

Show notes

Jared Stein, Co-founder and Partner at Monogram Capital Partners, shares his expert approach to scaling consumer businesses, fostering customer loyalty, and driving sustainable growth. From partnering with family-owned companies to identifying sectors with lasting demand, Jared provides actionable insights for excelling in fragmented markets and navigating today's rapid disruption cycles. A must-listen for private equity professionals and business builders looking to sharpen their playbook.

Episode Highlights:

00:33 - Jared's family business origins and lessons learned from hard jobs
06:04 - Why "growth mindset" and passion are critical for business builders
13:23 - Scaling consumer brands: leadership, customer focus, and profitability
19:46 - Identifying winning brands: consumer loyalty and market potential
24:37 - Partnering with family businesses: trust, talent, and transformation
27:27 - Inside the Western Smokehouse case study: 5x EBITDA growth
30:51 - Building anti-fragility: Preparing businesses for rapid disruptions

For more on Jared Stein's firm, visit: www.monogramcapital.com Connect with Jared Stein on LinkedIn: https://www.linkedin.com/in/jared-stein-5a347820 Explore more episodes: www.bluwave.net/podcasts

Private Equity's AI Shift: Bob Morse on SaaS, Pricing, and Alignment Sep 10, 2025

Show notes

Sean Mooney speaks with Bob Morse, Co-Founder & Managing Partner at Strattam Capital, about the changing playbook in private equity, especially in tech. Morse traces his path from Morgan Stanley and Oak Hill to founding Strattam, then lays out a no-surprises model: turn cards face-up pre-signing, align on a founder-written five-point plan, and opt-in support with real accountability. He explains why AI threatens seat-based SaaS economics, where outcome pricing wins, and how PE firms should push portfolios to experiment while keeping the founder's innovative spark alive. Clear-eyed and practical, this conversation arms business builders with a framework to act now.

Episode highlights

1:26 – An engineer's path into private equity
7:15 – Why tech needed a dedicated, specialized PE fund and the genesis of Strattam
13:03 – Solving the "first board-meeting surprise"
19:45 – The founder persona Strattam backs: industry operators with proven product-market fit
27:15 – AI as invention vs. innovation and the early business models that actually work
32:27 – The SaaS shake-up: from seat licenses to outcome-based pricing and financing impact
41:54 – "Aliens landed": a mantra for leading through uncertainty and running smart experiments

For more on Bob Morse's firm, visit: https://strattam.com/ Connect with Bob Morse on LinkedIn: https://www.linkedin.com/in/bob-morse-3567595/ Explore more episodes: www.bluwave.net/podcasts

Focus, Metrics, and AI: Dan Gaspar's Private Equity Strategies Aug 20, 2025

Show notes

Dan Gaspar, Partner at TZP Group, shares how private equity investors drive growth through focus, actionable insights, and strong partnerships. Hear Dan's approach to evaluating businesses, aligning on key priorities, and leveraging innovations like AI. With decades of experience, Dan breaks down what it takes to create value in today's dynamic market. A must-listen for private equity professionals and business builders alike.

Episode Highlights:

1:12 - Dan Gaspar's pathway to private equity: A straightforward yet insightful start
12:14 - What "specialness" means when evaluating businesses for investment
19:33 - How TZP Group aligns with management teams to focus on 2–3 key growth priorities
26:19 - The role of AI in modern private equity: Dan's take on experimentation and adaptability
35:54 - Navigating uncertainty in today's market: Lessons on maintaining margins and flexibility
39:21 - Book recommendations for business builders: Traction, Good to Great, and Who Moved My Cheese
41:35 - Practical advice for private equity professionals and the value of collaborative partnerships

For more on Dan Gaspar's firm, visit: www.tzpgroup.com Connect with Dan Gaspar on LinkedIn: https://www.linkedin.com/in/dangaspar/ Explore more episodes: www.bluwave.net/podcasts

Private Equity's Resilience and Q2 2025 Economic Trends Aug 06, 2025

Show notes

The second quarter of 2025 showcased one of the most compelling periods for private equity, revealing how firms responded to disruption through strategic action and decisive adaptation. Join BluWave Founder and CEO Sean Mooney as he unpacks the insights from BluWave's Q2 Private Equity Insights Report, including data showing rolling recovery trends, reshoring efforts in manufacturing, and technology investments. This episode dives into the unique frameworks private equity applies to thrive amid uncertainty, setting the stage for long-term growth. Confidently engage with insights that matter to your business. Episode Highlights

1:21 – Navigating stop-and-go economic disruptions: Key Q2 observations
5:45 – How private equity firms utilize OODA loops for decision-making
12:30 – April 2nd tariffs: A black swan reshaping manufacturing and trade
18:20 – Technology investments surge: AI and data projects skyrocket
27:05 – Resilience returns: PMI and consumer sentiment rebound in June
34:50 – The deal economy ramps up for mid- and long-term growth cycles
41:30 – Why private equity firms remain focused on growth investments

For more on BluWave, visit: https://www.bluwave.net/ To request the full Q2 2025 Insights Report, visit: https://www.bluwave.net/insights-report/

From Turnarounds to Growth: Ben Gaw on Building High-Performing Teams in Private Equity Jul 16, 2025

Show notes

In this episode of Karma School of Business, Sean Mooney speaks with Ben Gaw, Partner and Head of Portfolio Operations at Cross Rapids Capital. Ben shares stories from his journey as a first-generation immigrant to becoming a sought-after private equity leader, highlighting lessons learned from turnarounds, rapid decision-making, and building successful companies. Episode Highlights:

1:03 - Ben's background: From chemical engineering to corporate turnarounds, restructuring, and private equity.
10:03 - What makes a good company great: Identifying defensible markets, customer relationships, and opportunities hidden in mismanagement.
12:20 - The Cross Rapids playbook: Leveraging pattern recognition, providing resources, and empowering management teams to execute.
18:13 - Advice for uncertain times: The importance of assembling the right team, moving quickly, and focusing on growth from day one.
22:27 - Soft skills and leadership: How servant leadership and bedside manner help operating partners and executives thrive.

For more information on Cross Rapids Capital, go to https://www.crossrapids.com/

For more information on Ben Gaw, go to https://www.linkedin.com/in/benjamingawjr

For more information on BluWave and this podcast, go to https://www.bluwave.net/podcasts

What Dave Shephard Learned at West Point—and Applies in Private Equity Jul 09, 2025

Show notes

In this episode of Karma School of Business, Sean Mooney sits down with Dave Shephard, Director of Portfolio Operations at Rainier Partners. Dave shares how his military experience, consulting background at Bain, and hands-on leadership approach shape his work in private equity today. Key topics include:

1:30 - Dave's journey from West Point to portfolio operations, and how problem-solving shaped his career.
6:14 - Lessons from the military: Developing grit, resilience, and the ability to lead without authority.
13:48 - How Rainier Partners drives value creation through a defined, repeatable process: strategy alignment, tactical execution, and operational improvements.
30:31 - The foundational role of data and systems in applying AI to portfolio companies—and why starting small can make the difference.
40:14 - Dave's advice to his younger self and the value of curiosity, continuous learning, and thinking beyond immediate tasks.

For more information on Rainier Partners, go to https://www.rainierpartners.com/

For more information on Dave Shephard, go to https://www.linkedin.com/in/dave-shephard-auxga/

For more information on BluWave and this podcast, go to https://www.bluwave.net/podcasts

Board Meetings that Matter: Strategy, Structure, and Impact Jul 02, 2025

Show notes

This Karma School of Business feed drop from our sister podcast, Best But Never Final, explores the private equity approach to board meetings. Sean Mooney sits down with Lloyd Metz of ICV Partners and Doug McCormick of HCI Equity Partners to unpack how to turn board meetings into strategic powerhouses that drive real outcomes. Episode Highlights:

02:24 - Why private equity board meetings focus on strategic impact over routine reporting.
10:33 - The structure of PE boards: Who's on them, the role of independent directors, and the value of concentrated ownership.
15:25 - How independent board members are chosen to address specific business needs and enhance executive decision-making.
35:55 - Avoiding tactical readouts: Making board meetings a forum for actionable strategy and meaningful discussions.
42:37 - Tactical details: Frequency, in-person vs. virtual meetings, committee structures, and agenda planning.

To listen to more Best But Never Final episodes, go to https://bestbutneverfinal.buzzsprout.com/2247932

For more information on BluWave and this podcast, go to https://www.bluwave.net/podcasts

Elements of Value in Private Equity (Part 4): How PE Leaders Evaluate Businesses Jun 18, 2025

Show notes

In this episode of Karma School of Business, Sean Mooney continues the Elements of Value series, exploring what private equity professionals focus on when evaluating businesses that have the potential to thrive. You'll hear from:

0:49 - Vinay Kashyap of MainSail Partners on identifying bootstrap B2B software companies with strong growth potential, durable customer value propositions, and resourceful entrepreneurs.
6:19 - Kristin Johnson of Altamont Capital Partners on how her firm assesses market opportunities, team capabilities, alignment with founders, and introduces the concept of a "red team" to bring rigor to investment processes.
12:19 - Trent Hickman of VSS on partnering with founder-led businesses, the importance of management integrity, shared vision, and identifying "multiple ways to win."
20:50 - Misha Logvinov of MGX on the critical role of leadership quality, adaptability during change, and building a robust technology infrastructure that supports scalability and innovation.

To listen to Vinay, Kristin, Trent or Misha's full podcast episode, go to https://www.bluwave.net/podcasts.

To get connected to a world-class, perfect-fit service provider from our curated network, go to https://www.bluwave.net/start-a-project.

Two Decades of Investing in Franchise/Multi-Unit Businesses with CapitalSpring Jun 11, 2025

Show notes

Richard Fitzgerald, Co-Founder and Managing Partner at CapitalSpring, joins Sean Mooney to share the story behind one of the most enduring sector-focused firms in private equity. In a conversation that moves well beyond deal mechanics, Richard reflects on the early days of CapitalSpring, the value of sticking with a niche, and what it takes to build trust and alignment — across teams, LPs, and portfolio partners — over the long haul.

Episode Highlights:

1:07 – Richard's path to private equity
7:53 – Building a sector-specialist investment firm with true competitive advantage
11:06 – We'd know Richard better if we knew this about him
18:27 – Working through hard things – navigating the pandemic
26:45 – The art of private equity in the franchise/multi-location sector – best practices
35:48 – Benefits of having a sector specialist franchisee investors for sponsors investing in franchisors
40:42 – Flexibility to provide both debt and equity solutions for growing businesses is a competitive advantage
43:05 – Richard's advice for his 22 year-old-self

For more on CapitalSpring: https://www.capitalspring.com

To connect with Richard Fitzgerald: https://www.linkedin.com/in/fitzgeraldrichard

For more on Challenge Aspen: https://challengeaspen.org/

For more on the Michael J. Fox Foundation: https://www.michaeljfox.org/

Explore more episodes of Karma School of Business: https://www.bluwave.net/podcasts

The Private Equity Playbook for Add-On Strategy, Data Discipline & Value Creation | Brooke Ablon, Fort Point Capital Jun 04, 2025

Show notes

Brooke Ablon, Co-Founder and Partner at Fort Point Capital, joins Sean Mooney to share how his firm scales lower middle market companies through a precise mix of strategy, data, and partnership. From executing disciplined add-on acquisition plans to transforming founder-led businesses into institutional-grade operations, Brooke walks through a real-world private equity playbook that's built for today's competitive landscape.

🔑 Key Topics Covered:

[00:01:09] How a psychology major and distressed investor found his way into private equity
[00:10:22] What distressed investing teaches you about cash flow, value, and conflict
[00:19:27] Fort Point's investment criteria: value proposition, management excellence, and fit
[00:24:48] How to create value with strategic add-ons, board governance, and growth alignment
[00:29:09] Using data analytics and utilization tracking to uncover hidden margin
[00:32:34] Advice for management teams: think proactively, act decisively, use your data
[00:40:24] Why private equity careers (and outcomes) are marathons, not sprints

For more information on Fort Point Capital, go to: https://www.fortpointcapital.com

For more information on Brooke Ablon, go to: https://www.linkedin.com/in/brooke-ablon-5168514

For more information on the Karma School of Business podcast, go to: https://www.bluwave.net/podcasts

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