Blog
Notes on what tends to happen between private equity firms and the people running their portfolio companies.
The Keys Change Hands. You Do Not.
Advice for CEOs when lenders take over
Read: The Keys Change Hands. You Do Not.The Other Side of the Table
Diligence goes both ways — lessons from Knoxville
Read: The Other Side of the TableThe Quiet Squeeze
Why Adjusted EBITDA keeps growing, who has to deliver the difference, and what happens when they can't.
Read: The Quiet SqueezeThe Jammed Escalator
What every first-time portfolio company CEO should understand about the ride they're on.
Read: The Jammed EscalatorThe Clock Nobody Watches
PE CEOs manage four clocks in the 18 months before exit. They watch the wrong one.
Read: The Clock Nobody WatchesDiligence the Fund Before You Sign Your Next PE Gig
Many PE CEOs and C-suite leaders misread how their investors might manage and support their business, so diligence your future fund as much as they've diligenced you.
Read: Diligence the Fund Before You Sign Your Next…Why the System Reinstalled the Person It Just Rejected
What the OpenAI episode reveals about leadership, dependency, and the limits of governance under pressure
Read: Why the System Reinstalled the Person It…Sweet Equity: Dead on Arrival
A private equity firm gives a CEO a sliver of company equity and calls it life-changing. For five years, she has worked eighty-hour weeks. Then the math catches up.
Read: Sweet Equity: Dead on ArrivalBlood on the Boardroom Floor: Why Private Equity Boards Fire CEOs to Save a Broken Thesis
An analysis of the scapegoat mechanism and diagnostic frameworks for leadership
Read: Blood on the Boardroom Floor: Why Private…Why “Effective Boards” Still Preside Over Disasters
Carillion, Wood Group, Thomas Cook and the limits of modern board evaluation
Read: Why “Effective Boards” Still Preside Over…The Investor's Blind Spot: A Framework for Classifying Founder Charisma
A model and seven interventions for better investment decisions in PE and VC
Read: The Investor's Blind Spot: A Framework…The Pied Pipers of Capital: Five Founders, One Playbook, and the Investor Addiction to Charisma
Why VCs and PE firms fall, over and over, for underperforming charismatic founders
Read: The Pied Pipers of Capital: Five Founders,…Picking an Executive Coach in 2026? Here's What Actually Matters
It's a new year. Some of you are thinking about getting an executive coach in 2026. Maybe it's a resolution. Maybe you've been putting it off. Maybe your company is offering to pay…
Read: Picking an Executive Coach in 2026?…“We Need to Talk About My Equity…”: How Often Do PE CEOs Renegotiate Their Deals?
When a CEO signs up to lead a private equity (PE)-backed company, it often feels like the beginning of a high-stakes adventure. There’s the transformation agenda, the promise of ra…
Read: “We Need to Talk About My Equity…”: How…The Private Equity Dream: Do CEOs Actually Get the Equity Payouts They're Promised?
When a CEO joins a private equity (PE)-owned business, the pitch is almost always the same: work hard, drive growth, hit the numbers — and walk away with a life-changing equity pay…
Read: The Private Equity Dream: Do CEOs Actually…Navigating the Emotional Transition: Entrepreneurs Selling Their Business and Remaining as CEOs or NEDs
A company often embodies years of dedication, personal identity, and vision. Opting to stay on as a Chief Executive Officer (CEO) or transition to a Non-Executive Director (NED) ro…
Read: Navigating the Emotional Transition:…The High-Stakes Stress of Private Equity: Managing Underperforming Investments
Private equity (PE) is a high-risk, high-reward business. When investments perform well, PE professionals reap financial and reputation rewards. But when a portfolio company underp…
Read: The High-Stakes Stress of Private Equity:…The Emotional Aftermath of Selling Your Business: Why Many CEOs Struggle After an Exit
Selling a business is often seen as the ultimate entrepreneurial success story, the payday, the validation, the reward for years of hard work. But what happens after the deal close…
Read: The Emotional Aftermath of Selling Your…The Chairman-CEO Dynamic in Private Equity: A High-Stakes Relationship
In private equity (PE) portfolio companies, the relationship between the chairman and CEO is one of the most critical and potentially volatile dynamics. Unlike in public companies …
Read: The Chairman-CEO Dynamic in Private Equity:…The Hidden Psychodynamics of Private Equity and Portfolio Company Relationships
The relationship between private equity (PE) firms and their portfolio companies is often viewed through a purely financial lens, laser-focused on EBITDA growth, operational effici…
Read: The Hidden Psychodynamics of Private Equity…Navigating High Turnover in Private Equity Leadership
Leadership turnover in private equity (PE) portfolio companies is notoriously high. Studies suggest that more than 75% of CEOs are replaced within the first two years of a PE acqui…
Read: Navigating High Turnover in Private Equity…The Hidden Psychological Toll of Running a PE-Owned Business
Leading a private equity (PE)-backed company presents unique challenges that can significantly impact a CEO's mental health. The high expectations for rapid growth and substantial …
Read: The Hidden Psychological Toll of Running a…Why PE Operating Partners and CEOs Clash (And How to Fix It)
In private equity (PE) firms, the relationship between operating partners and portfolio company CEOs is crucial for value creation. However, tensions often arise due to misaligned …
Read: Why PE Operating Partners and CEOs Clash…The Identity Crisis Entrepreneurs Face When Selling Their Business
For many entrepreneurs, their business isn’t just a source of income—it’s a core part of their identity. When a venture fails, the impact goes beyond financial loss; it can lead to…
Read: The Identity Crisis Entrepreneurs Face When…The Pitfalls of Private Equity's CEO Selection Process
Private equity (PE) firms often face challenges in selecting suitable CEOs for their portfolio companies. A prevalent issue is the overemphasis on candidates' past achievements wit…
Read: The Pitfalls of Private Equity's CEO…How Chairmen Fail in Private Equity-Backed Firms
In private equity (PE)-backed companies, the chairman plays a pivotal role in steering the organization toward value creation. However, many chairmen fail to meet expectations due …
Read: How Chairmen Fail in Private Equity-Backed FirmsManaging the First 100 Days as a Private Equity CEO
Stepping into the role of CEO in a private equity (PE)-backed company presents unique challenges and opportunities. The initial 100 days are critical for setting the tone and estab…
Read: Managing the First 100 Days as a Private…Enhancing Board Effectiveness in Private Equity
In private equity (PE), the effectiveness of portfolio company boards is crucial for driving value creation and achieving investment objectives. Unlike public company boards, PE bo…
Read: Enhancing Board Effectiveness in Private EquityCommon Pitfalls for First-Time Private Equity CEOs
Transitioning into a CEO role within a private equity (PE) portfolio company presents unique challenges. Understanding common pitfalls can help new leaders navigate this complex en…
Read: Common Pitfalls for First-Time Private…Agency Issues Between Private Equity Firms and Portfolio Companies
The relationship between private equity (PE) firms and their portfolio companies is shaped by agency theory, which examines conflicts of interest between principals (PE investors) …
Read: Agency Issues Between Private Equity Firms…How Private Equity CEOs Can Build Stronger Investor Relationships
In the private equity (PE) sector, robust investor relationships are crucial for CEOs aiming to secure funding and achieve long-term success. A strategic approach to investor relat…
Read: How Private Equity CEOs Can Build Stronger…The Hidden Costs of CEO Turnover in Private Equity
High CEO turnover in private equity (PE) portfolio companies can significantly impact investment outcomes. A 2021 article by Slayton Search Partners highlights that such turnover o…
Read: The Hidden Costs of CEO Turnover in Private…High CEO Turnover in Private Equity: Why It Happens and How Coaching Can Help
CEO turnover in private equity (PE)-backed companies is high. A study by AlixPartners found that 58% of PE-backed CEOs are replaced within two years, rising to 73% over the full in…
Read: High CEO Turnover in Private Equity: Why It…Why Private Equity CEOs Need Strong Financial Acumen to Succeed
In the high-stakes world of private equity, CEOs must possess robust financial acumen to navigate complex financial landscapes effectively. A CEO Today article emphasizes that unde…
Read: Why Private Equity CEOs Need Strong…