The Private Equity Podcast, by Raw Selection

• The Hamilton Lane Take On The Infrastructure Sector Now and Beyond With Brent Burnett

  Welcome to The Private Equity Podcast by Raw Selection, hosted by Alex Rawlings. Brent Burnett, Head of Infrastructure and Real Assets at Hamilton Lane, shares insights on infrastructure growth, key trends, and the 2025 outlook. Tune in for a deep dive into its role in PE. Breakdown:[00:00] Welcome to the Raw Selection Private Equity Podcast with host Alex Rawlings and guest Brent Burnett, Head of Infrastructure and Real Assets at Hamilton Lane.[00:30] Brent shares his background in infrastructure investing and career journey.[01:22] How Brent’s experience in real estate and industrial assets shaped his focus.[02:17] Brent’s role in launching a real assets fund and joining Hamilton Lane.[03:06] Growing interest in infrastructure investments and Hamilton Lane’s outlook for 2025.[03:59] Increasing allocations to private infrastructure in both private wealth and institutional sectors.[04:56] Infrastructure’s role in AI, energy transition, and supply chain optimization.[05:48] Interest rate impacts on infrastructure investments and risk classifications.[07:10] Core plus and value-add infrastructure offsetting interest rate pressures through growth.[08:07] How secondary market pricing and asset valuation have adjusted.[09:29] Breaking down valuation trends in power, transportation, telecom, and environmental assets.[09:57] Data centers and renewable energy—hot sectors with valuation risks.[10:53] Renewable energy valuation trends and cautious investment approaches.[11:48] Stable valuation trends in other infrastructure sectors.[13:14] Political impact on infrastructure investing, including policy shifts in the US and UK.[14:11] Infrastructure growth drivers—data telecom and renewable energy.[15:09] Challenges in expanding data center capacity, including power and water constraints.[15:39] Role of renewable energy tax credits in US policy and investment strategy.[17:02] Historical renewable capacity growth under different US administrations.[18:27] Low likelihood of drastic policy changes affecting renewable energy investments.[20:18] Fundraising challenges and market dynamics in infrastructure.[21:20] Expectations for improved fundraising conditions in 2025.[22:43] How difficult fundraising conditions benefit co-investment strategies.[23:11] Brent’s positive outlook for deal flow in 2025 and accountability joke.[23:39] Alex highlights Raw Selection’s executive search services for private equity firms.[24:07] Hamilton Lane’s evergreen funds expanding access to private infrastructure investments.[24:35] Benefits of infrastructure investments—income, appreciation, and diversification.[26:54] Brent shares his favorite books, podcasts, and influences.[27:21] Recommended business podcasts, including Dry Powder and In Good Company.[27:49] Interest in psychology and behavioral economics through Hidden Brain.[28:49] Books Brent is reading: Atomic Habits, The Comfort Crisis, and Empire of the Summer Moon.[30:41] A mix of professional and entertainment reading for learning and growth.[31:08] How to connect with Brent on LinkedIn for further discussions.[32:02] Closing remarks and thanks to listeners of The Private Equity Podcast. Thanks for listening! Connect with Brent Burnett hereSubscribe on iTunes or Spotify. For questions, email [email protected].  

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• How to Generate Deal Flow From Your Talent Focused Operating Partner With John Dahlgren

  Welcome back to The Private Equity Podcast, by Raw Selection. Host, Alex Rawlings speaks with John Dahlgren, VP of Talent at SBJ Capital, about the growing role of internal talent in private equity, portfolio hiring strategies, and using talent partnerships to generate deal flow. John shares insights on hiring trends, common mistakes, and how SBJ Capital optimizes talent operations for long-term success.Breakdown: [00:00] Introduction to the episode and guest John Dahlgren. Overview of hiring trends in PE firms and portfolio companies.[00:29] Rising demand for operating partner talent and how firms can develop a structured hiring approach.[00:59] John’s journey from executive search to private equity, his role at SBJ Capital, and their investment focus.[02:22] PE firms sometimes push beyond their core mandate. The importance of patience and focusing on strengths.[04:48] Why internal talent functions are critical. Managing over 45 searches across 12 portfolio companies in a year.[06:46] How SBJ Capital partners with investment professionals to refine hiring criteria and streamline recruitment.[09:11] Building trust with portfolio executives to ensure hiring aligns with their company’s needs.[11:15] The importance of hiring PE-experienced executives with adaptability and strategic leadership skills.[13:36] Acting faster on hiring mistakes and recognizing early signs of a mis-hire.[14:46] The cultural impact of hiring at the fund level and promoting from within.[17:16] Using industry experts to source deals via the Origination Partner Program.[19:38] The program has sourced 50-100 deals in 18 months, contributing to SBJ Capital’s deal pipeline.[21:11] Working with former CEOs and advisors to generate proprietary deal flow.[23:08] Recommended reads and podcasts: The Catalyst by Jonah Berger, ParkerGale’s PE Funcast, and SmartLess.[25:29] How to connect with John via LinkedIn or email.[27:20] Final thoughts on diversifying deal sourcing and ensuring strong talent strategies.[27:50] Closing remarks and call to action to subscribe.Thank you for tuning in!Connect with John here.  To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to [email protected].

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• Hire the Best Executives with this Playbook with Jordan Burton

  Welcome to The Private Equity Podcast, by Raw Selection, hosted by Alex Rawlings. In today's episode, Jordan Burton shares his expertise on hiring, training, and evaluating executives. They discuss common mistakes private equity firms make when hiring portfolio executives, how to improve interview techniques, and the critical role of structured assessment. Jordan also covers the importance of preparing for interviews, aligning stakeholders, and ensuring a thorough evaluation process.Breakdown: [00:00] Introduction to the episode and guest Jordan Burton. Overview of hiring and interviewing in private equity.[00:28] The importance of preparation before an interview. Defining the role clearly and aligning expectations among stakeholders.[01:26] The biggest hiring mistakes in private equity. Why many firms fail to achieve more than a 30% success rate in portfolio hiring.[02:52] Understanding your role in the hiring process. Avoiding generic questions and ensuring structured, targeted assessments.[04:20] How to create an effective scorecard. The value of assessing current leadership strengths and defining key success traits.[06:15] The impact of investor dynamics on hiring success. Recognizing patterns in successful executives and adapting selection criteria accordingly.[07:42] Why “been there, done that” is a flawed hiring approach. Focusing on upward trajectory and capability over past roles.[09:05] The importance of structured note-taking during interviews. Ensuring consistency in feedback and preventing redundant questioning.[11:00] How curiosity and active listening improve interviews. Creating a strong rapport to uncover valuable insights.[12:30] Balancing assessment with selling the opportunity. Tailoring your pitch based on the candidate’s motivations and priorities.[14:54] What truly differentiates a PE firm in hiring. How to stand out beyond compensation and equity offers.[17:21] The role of portfolio executives in recruiting. Leveraging their experience to attract and evaluate top talent.[19:49] Why most private equity investors are never trained in interviewing. Steps firms can take to develop better hiring processes.[21:41] How to ask better interview questions. Moving beyond hypothetical questions to uncover real insights.[24:02] Identifying red flags in executive candidates. Evaluating openness, honesty, and past performance patterns.[27:25] The importance of conducting rigorous reference checks. Selecting the right references and verifying past performance.[30:20] Post-interview best practices. Consolidating feedback and structuring hiring decisions effectively.[35:50] The final hiring decision. Aligning stakeholders and ensuring a structured decision-making process.Thank you for tuning in!You can connect with Jordan Burton on LinkedIn by visiting his profile here. To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to [email protected]

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• Using AI and Technology to Drive Value Creation in Private Equity with Ron Ramanujam

  Welcome back to the Raw Selection Private Equity Podcast. Today’s guest is Ron Ramanujan, Technology Transformation Operating Partner, discussing value creation, tech transformation, AI, and cybersecurity within Private Equity. Breakdown:{00:30} Ron shares his background, highlighting his extensive experience in enterprise technology, data infrastructure, machine learning, and his time at BCG. {01:28} Discussing common mistakes in private equity, Ron emphasizes that financial engineering alone is no longer sufficient. He highlights the need for early action post-acquisition, leveraging technology, and focusing on value creation from day one.{02:55} The importance of assessing pricing models, margins, and customer experience early in the investment cycle. Ron explains how digital transformation is now a non-negotiable factor for success in private equity.{04:51} Value creation in private equity is often overused as a term. Ron discusses the shift from traditional financial optimization to technology-driven strategies that generate real business impact.{06:16} The role of technology in private equity investments. Ron emphasizes evaluating a target company's tech infrastructure during due diligence and ensuring early integration of digital strategies to maximize growth potential.{08:08} Lessons learned from prior acquisitions—Ron talks about prioritizing high-value use cases, setting clear milestones, and the importance of aligning operational and technological strategies.{09:58} The need for a structured, repeatable framework for tech integration in portfolio companies. Ron explains how operational and tech transformation must go hand in hand to drive efficiencies.{12:22} AI’s impact on private equity—how AI-driven solutions can reduce customer churn, optimize costs, and create competitive moats for portfolio companies.{14:08} AI trends and applications—Ron explains how generative AI is transforming businesses, highlighting its impact on productivity, customer service, and operational automation.{16:30} The importance of AI governance and risk management. Ron discusses creating structured frameworks, setting guardrails, and ensuring responsible AI adoption without stifling innovation.{18:25} Experimentation in AI is key—private equity firms must embrace a culture of testing, failing, and iterating to remain competitive in a rapidly evolving market.{19:50} Playbooks for AI in private equity—Ron suggests frameworks that firms should establish at a portfolio level, including AI-driven financial reporting, operational efficiencies, and customer analytics.{23:35} Cybersecurity in private equity—Ron warns that cybersecurity is often overlooked, yet it poses a significant existential risk to businesses. PE firms must incorporate cybersecurity assessments into due diligence.{25:59} Emerging cybersecurity threats—Ron discusses advanced cyber threats, including internal dwellers and nation-state actors, emphasizing the need for proactive security measures.{27:51} Balancing cybersecurity investments—Ron explains how firms can protect their assets without over-engineering security solutions, ensuring efficiency and risk mitigation.{28:21} Ron’s reading recommendations—he shares his interest in AI, human neuroscience, and the book Why Machines Learn, which explores the evolution of AI through mathematics.{31:09} Alex thanks Ron for his insights into AI, cybersecurity, and value creation in private equity.Thank you for tuning in!Connect with Ron here.  To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podca

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• Shifting from Founder-Led to Data-Driven Decision Making in Private Equity with Jeff Wigle

  Welcome to The Private Equity Podcast, by Raw Selection. Today’s guest is Jeff Wigle, Managing Director at Banyan Capital Partners, a lower-to-middle market private equity firm based in Canada. Jeff shares insights on transitioning portfolio companies from founder-led to data-driven decision-making, leveraging technology, and managing cultural change during these shifts.Breakdown:[00:00] Jeff Wigle discusses his background, Banyan Capital Partners, and his experience transitioning portfolio companies to data-driven decision-making[00:29] Jeff’s background from accountant at Ernst & Young to private equity leader, including serving as CEO of a portfolio company at age 31[02:26] Building an evergreen private equity model with the importance of long-term holds and avoiding rushed investment theses[04:22] Common private equity mistakes including rushing transformations, breaking culture, and short-sighted strategies[05:48] Banyan’s approach focusing on long-term value creation, rebuilding foundations, and avoiding premature integrations or expansions[07:31] Lessons from being a CEO with the critical importance of having the right people in the right roles[08:52] Characteristics of top performers including clarity, consistency, transparency, and alignment with investor and business goals[10:16] Transitioning to data-driven decision-making by addressing founder-led systems and building scalable processes for growth[11:43] Challenges of upgrading systems with balancing inward focus during upgrades with market opportunities[12:42] Investing in systems and data by upgrading technology to generate actionable insights and improve decision-making[14:09] Starting with manual processes by using limited data to identify profit drivers and inefficiencies before implementing systems[16:05] Managing resistance to change by evolving culture carefully with executive buy-in to avoid breaking businesses[17:41] Leveraging IT consultants and internal resources with strategies for implementing and managing technology upgrades[20:59] Early steps with artificial intelligence including using AI for coding fixes, dynamic pricing, and operational efficiencies[23:22] AI and dynamic pricing with AI to manage large customer bases and product catalogs efficiently[24:50] Staying competitive with AI and how larger businesses lead adoption, but smaller firms must act to avoid falling behind[27:44] AI at the private equity level with AI for research and data compilation, but still validating results manually[29:10] Recommended reading Scaling Up by Vern Harnish, Grit, Good to Great, The Five Dysfunctions of a Team, and Switch[31:00] Podcast recommendations Business Breakdowns, In Good Company, and Michael Lewis’s podcast[32:26] Connect with Jeff via the Banyan Capital Partners website for contact details[32:55] Closing thoughts with Alex Rawlings thanking Jeff for sharing his insights on data-driven decision-making and cultural change in private equityTo be added to the book waitlist, you can email [email protected] you for tuning in! Connect with Jeff on LinkedIn here.  To get the newest Private Equity episodes, you can subscribe on iTunes or Spotify here.Lastly, if you have any feedback on the podcast or want to reach out to Alex with any questions, send an email to [email protected]

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