Private Equity Podcast: Karma School of Business
Private equity insights for and with top business builders, including investors, operators, executives and industry thought leaders. The Karma School of Business Podcast goes behind the scenes of PE, talking about business best practices and real-time industry trends. You'll learn from leading professionals and visionary business executives who will help you take action and enhance your life, whether you’re at a PE firm, a portco or a private or public company. BluWave Founder & CEO Sean Mooney hosts the Private Equity Karma School of Business Podcast. BluWave is the business builders’ network for private equity grade due diligence and value creation needs. To learn more, visit: https://bit.ly/3oPBjs8
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Private Equity Growth Strategy in Vertical Software Markets with Bobby Ocampo
05/20/2026
Private Equity Growth Strategy in Vertical Software Markets with Bobby Ocampo
Bobby Ocampo, Managing Partner at Blueprint Equity, shares how his firm approaches early growth-stage investing within private equity. He explains Blueprint’s focus on capital-efficient, founder-led vertical software businesses and how they build scalable go-to-market engines post-investment. The conversation also explores how AI, rising competition, and shifting market dynamics are reshaping underwriting and value creation. A practical look at where private equity is heading—and how to win in it. Episode Highlights: 2:05 - From physics major to private equity via investment banking and venture capital 7:20 - Why Blueprint Equity was built to avoid “asset gathering” and mediocre returns 14:10 - Breaking down growth equity vs. venture capital and traditional private equity 16:05 - Key investment criteria: capital efficiency, retention, and vertical focus 26:10 - Turning “successful in spite of themselves” companies into scalable platforms 30:45 - How AI is reshaping underwriting, product strategy, and competitive dynamics 38:45 - Career advice: spotting opportunity early and jumping on asymmetric upside For more on Blueprint Equity, visit: For more information on Bobby Ocampo, go to
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Private Equity Business Development in a Crowded Market with Tyler Ashley
05/06/2026
Private Equity Business Development in a Crowded Market with Tyler Ashley
Tyler Ashley, Head of Business Development at McNally Capital, shares the unconventional path that shaped his approach to private equity. From early global experiences to building a career in deal sourcing and relationships. He explains how McNally’s family-backed roots influence its focus on founder-led businesses, and how its “Atlas” framework drives disciplined value creation across the portfolio. Tyler also breaks down the growing importance of business development in an increasingly crowded market, where strategy, specialization, and authentic relationships win deals. This is a practical conversation on sourcing, differentiation, and building durable networks in modern private equity—press play. Episode Highlights 2:20 - From Wyoming ranch to Argentina: a nontraditional start that shaped his career 7:09 - Why unique life experiences create an edge in private equity relationships 11:58 - A serious ski accident and the perspective it brought to work and life 17:07 - McNally Capital’s roots and focus on founder-led, family-backed businesses 23:18 - The “Atlas” framework for structured, end-to-end value creation 27:32 - Why business development has become critical in a crowded PE landscape 30:09 - Expanding deal flow through proactive outreach and market coverage 35:38 - Building and maintaining a network as the foundation of long-term success For more on McNally Capital, visit: For more information on Tyler Ashley, go to
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Private Equity in 2026: AI, Deal Slowdowns, and What Comes Next
04/22/2026
Private Equity in 2026: AI, Deal Slowdowns, and What Comes Next
Sean Mooney, Founder and CEO of BluWave, breaks down the firm’s Q1 2026 Private Equity Insights Report and what it signals for investors and operators navigating a volatile environment. He outlines how geopolitical shocks are once again stalling deal activity, why the economy remains surprisingly resilient, and how private equity firms are leaning harder into value creation. Sean also explains the shift of AI from buzzword to real execution—and why data readiness is now a competitive imperative. This is a clear-eyed view of the current market and where private equity leaders should focus next—hit play. Episode Highlights 1:15 - “Groundhog Day” returns as geopolitical shocks stall deal momentum 3:20 - Why sellers pause deals: the need for 4–6 months of visibility 5:30 - Economic resilience despite inflation, tariffs, and uncertainty 7:10 - PE firms increase focus on value creation during market slowdowns 10:30 - AI demand surges 280% as firms move from experimentation to execution 16:10 - Data readiness becomes the defining advantage in AI adoption 23:20 - Why deal activity must rebound: liquidity pressure and dry powder For more on BluWave, visit: To request the full Q4 2025 Insights Report, visit:
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Private Equity Value Creation: Building Teams That Win with Jim Murphy
04/08/2026
Private Equity Value Creation: Building Teams That Win with Jim Murphy
Jim Murphy, Senior Managing Director at LLR Partners, shares his path from CFO and COO roles into leading value creation across a lower middle market private equity portfolio. Drawing on decades of operating experience, he explains how firms identify scalable businesses, assess management teams, and execute disciplined growth plans. Jim also outlines LLR’s functional approach to value creation, including operational excellence, ideal customer targeting, and retention strategies that drive outcomes. This is a practical look at what separates good companies from great ones in private equity—hit play. Episode Highlights 2:15 - Starting in public accounting and the path into a CFO career 11:10 - Becoming a public company CFO at 29 and learning in real time 18:45 - What private equity looks for: market size, product fit, and team 21:30 - Why management quality is the single biggest driver of outcomes 27:40 - Building a functional value creation team with real operators 33:10 - Operational excellence: uncovering hidden cost and margin opportunities 37:45 - Ideal customer profiles and retention as drivers of durable growth For more on LLR Partners, visit: For more information on Jim Murphy, go to
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Private Equity, Alignment, and Durable Value Creation
03/25/2026
Private Equity, Alignment, and Durable Value Creation
Brett Holcomb, Partner at Prospect Partners, shares the experiences that shaped his approach to lower middle-market private equity—from swimming-driven grit and early career missteps to navigating COVID with a portfolio company built on human trust. He explains Prospect’s “better, not just bigger” philosophy, why foundation-building matters more than speed, and how servant leadership earns premium outcomes. Brett also reflects on pricing strategy, data-driven decision-making, and the leap-of-faith judgment calls every investor must make. This is a candid conversation on resilience, alignment, and long-term value creation—press play. Episode Highlights 1:18 – Growing up around global business and finding a non-linear path into private equity 6:29 – Why competitive swimming builds the grit and self-motivation PE demands 10:43 – The COVID shock at Wedgewood and setting a clear North Star under pressure 14:13 – Over-communicating with teams and customers when everything shuts down 18:29 – Breaking massive problems into solvable components during crisis 30:31 – “Better, not just bigger”: Prospect’s foundation-first value creation model 37:46 – Pricing strategy as an offensive weapon in volatile markets 46:49 – The leap-of-faith decisions that define private equity careers For more on Prospect Partners, visit: For more information on Brett Holcomb, go to
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Top Private Equity Innovator of the Year 2026: Bertram Capital with Jeff Drazan
03/14/2026
Top Private Equity Innovator of the Year 2026: Bertram Capital with Jeff Drazan
Jeff Drazan, Managing Partner at Bertram Capital and BluWave’s 2026 Private Equity Innovator of the Year, explains how a technology-first operating model reshaped his transition from venture capital to private equity and became a durable competitive advantage. He details how Bertram Labs embeds software, data, and digital execution directly into diligence and value creation—well before the deal closes. Jeff also shares the investment principles that matter most today: large markets, strong margins, and customer trust. This episode lays out what modern private equity innovation actually looks like—hit play. Episode Highlights: 1:18 – From Princeton engineering and Bell Labs to venture capital on the West Coast 6:05 – Treating early career roles as paid fellowships, not permanent destinations 14:37 – Why technology was the missing link in traditional private equity models 16:25 – Founding Bertram Capital to bring digital transformation to lower-tech businesses 21:06 – Inside Bertram Labs: in-house software, data, and execution—not just advice 27:14 – Winning deals by fixing problems during diligence, not after closing 33:39 – The two non-negotiables: large TAMs and meaningful gross margins 48:45 – Why continuous innovation is the only sustainable edge in private equity To learn more about Bertram Capital, visit For details on BluWave's 2026 Top Private Equity Innovator Awards and Bertram Capital's recognition, visit To discover more about Jeff Drazan, visit
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Mark Langer on Grit, Judgment, and Long-Term Business Building
02/25/2026
Mark Langer on Grit, Judgment, and Long-Term Business Building
Mark Langer, Managing Director at CenterOak Partners, reflects on the experiences that shaped his approach to private equity—from early grit and middle-market investing to deploying capital in Africa and building enduring CEO partnerships. He explains why servant leadership, trust, and long-term thinking matter more than control in lower middle-market value creation. Mark also shares candid lessons on risk-taking, mistakes, and navigating the non-linear reality of business building. This is a grounded, hard-earned perspective from someone who has seen the full arc of private equity—hit play. Episode Highlights 2:01 – Early lessons in grit, work ethic, and “figure it out” resilience 6:02 – Breaking into middle-market investing after 9/11 and choosing the hard path 12:05 – Being sent to deploy capital in Africa—and learning fast under pressure 17:26 – Why CEO trust and long-term relationships matter more than control 19:32 – Reining in chaos in the lower middle market without killing momentum 25:34 – When investments go sideways and how real value gets created anyway 30:10 – Advice to younger investors: take risks, make mistakes, and think longer term For more information on CenterOak Partners, go to For more information on Mark Langer, go to
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Markets, Management, and Momentum with Emily Bomberger
02/11/2026
Markets, Management, and Momentum with Emily Bomberger
Emily Bomberger, Vice President at Penn Spring Capital, shares her nontraditional path into private equity and the operating mindset she brings to evaluating founder-led businesses. She explains how early experiences in marketing, accounting, and PE-backed advisory work shaped her approach to judgment, value creation, and partnership with entrepreneurs. Emily also outlines what Penn Spring looks for in markets, founders, and focus—and why discipline matters more in tighter environments. This is a grounded conversation on learning fast, building trust, and making better investment decisions—worth your time. Episode Highlights 1:41 – Growing up in a small town and seeing firsthand how businesses shape communities 4:26 – Early operating exposure and learning how decisions flow through a business 7:35 – Working with first-time PE-backed companies during the critical first 100 days 10:57 – Why Penn Spring prioritizes focus, speed, and small deal teams 16:52 – Emily’s scorecard for evaluating founder-led businesses and market tailwinds 19:24 – Why founder alignment and partial liquidity unlock the next growth phase 29:51 – The danger of scope creep and why doing fewer things better wins 35:59 – Warmth vs. competence in dealmaking—and why trust closes transactions For more information on Penn Spring Capital, go to https://pennspring.com/ For more information on Emily Bomberger, go to https://www.linkedin.com/in/emily-bomberger-1b243256/
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Private Equity 2025 Insights and the 2026 Deal Cycle Outlook
01/28/2026
Private Equity 2025 Insights and the 2026 Deal Cycle Outlook
Sean Mooney, Founder and CEO of BluWave, shares the key takeaways from BluWave’s 2025 Private Equity Insights Report and what they signal for the year ahead. Drawing on real-time data from hundreds of PE firms and thousands of portfolio companies, he outlines how the industry shifted from defense to offense, why diligence and value creation surged late in the year, and what separates winners from laggards entering 2026. Sean also delivers clear predictions on AI adoption, talent, software sprawl, and the accelerating deal rebound. This episode sets the context every private equity leader needs before leaning into the next cycle—press play. Episode Highlights 0:58 – Why private equity shifted from defense to offense in 2025 4:48 – What GDP, inflation, and productivity data revealed about economic resilience 9:59 – The 41% diligence surge and why it’s a leading indicator for deal flow 12:36 – Human capital’s comeback and what new deals signal for leadership hiring 18:20 – 2026 predictions: AI moves from buzzword to execution tactic 27:58 – Avoiding AI pilot purgatory and prioritizing adoption that actually delivers ROI 37:21 – Why dry powder, LP pressure, and speed will define the next PE deal cycle For more on BluWave, visit: https://www.bluwave.net/ To request the full Q4 2025 Insights Report, visit:
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Private Equity Judgment, Resilience, and the Art of Business Building
01/14/2026
Private Equity Judgment, Resilience, and the Art of Business Building
Geoff Faux, Partner at Clearview Capital, shares the principles that shape his approach to private equity investing, from evaluating management teams and industry dynamics to navigating adversity when deals go sideways. He reflects on lessons forged through competitive athletics, a career built inside one firm, and a defining portfolio company crisis that tested every assumption about value creation. Geoff also explains Clearview’s first-in institutional playbook and how focus, prioritization, and people decisions drive durable outcomes. This is a grounded, hard-earned perspective on what it really takes to build winning businesses—hit play. Episode Highlights 1:01 – How elite swimming shaped Geoff’s discipline, focus, and investing mindset 4:17 – Growing up around lower middle market deals and choosing private equity early 13:02 – The four variables that matter most in private equity investment decisions 19:55 – Why industry stability and baseline management strength are non-negotiables 24:21 – A first deal gone wrong—and the crisis that nearly broke the investment 28:35 – Rebuilding through COVID and turning a near-zero into a top portfolio performer 47:29 – Advice to Geoff’s 22-year-old self on teams, people judgment, and resilience For more information on Clearview Capital go to https://www.clearviewcap.com/ For more information on Geoffrey Faux, go to https://www.linkedin.com/in/geoff-faux-27826518/
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Private Equity Leaders’ Best Business Books of 2025
12/31/2025
Private Equity Leaders’ Best Business Books of 2025
Sean Mooney curates the 2025 reading list recommended by private equity investors, operating partners, and portfolio company CEOs featured on Karma School of Business this year. The episode spans business strategy, capital allocation, leadership, happiness, mindset, and life design—through the lens of people actively building and scaling companies. From The Outsiders to Traction to unexpected personal favorites, the list reflects what serious operators are actually reading and rereading. If you’re building for the long term, this one earns a spot in your queue. Episode Highlights 1:12 – Casey Myers on shifting from achievement to fulfillment with From Strength to Strength 2:53 – Steve Hunter reframes money, time, and health through Die With Zero 4:04 – Jonathan Metrick on compounding time, skills, and careers via The Algebra of Wealth 7:35 – Ran Ding explains why great CEOs are elite capital allocators in The Outsiders 11:11 – Chris Scullin on dynamic competition and adaptation from The Innovator’s Dilemma 14:01 – Micah Dawson on focus, ambition, and escaping the hedonic treadmill with The One Thing 18:20 – Dan Gaspar on operational discipline and change using Traction and Who Moved My Cheese?
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Private Equity Value Creation Through Focus, Talent, and Go-to-Market Discipline
12/17/2025
Private Equity Value Creation Through Focus, Talent, and Go-to-Market Discipline
Rob Turano, Operating Partner at Bloom Equity Partners, breaks down the playbook he uses to transform lower middle-market software companies—from sharpening product focus to elevating talent and building repeatable go-to-market engines. He shares how Bloom integrates operating partners early in diligence, accelerates transformation in the first 12–18 months, and instills a performance culture rooted in data, speed, and ownership. Rob also gets personal, from his love of cooking to the practices he uses to think more clearly as a leader. It’s a sharp, candid look at what real value creation in private equity demands today—hit play and take notes. Episode Highlights 1:31 – Growing up in New Jersey, Villanova roots, and the consulting-to-private-equity path 5:56 – Why food matters in Rob’s life and how he became Bloom’s unofficial in-house chef 9:22 – The three traits Bloom looks for: focus, management strength, and GTM maturity 14:38 – Selling value vs. selling features—and why every salesperson must think like a CFO 20:49 – How Bloom’s deal, BD, and operating teams collaborate from diligence through execution 27:45 – The urgency of the first 6–12 months and the sequencing of transformation in PE 36:18 – Rob’s top advice to PortCos today: talent first, disciplined KPIs, and repeatable GTM engines 40:25 – The book shift that made Rob more creative—and the life hack that helps him think clearly For more information on Bloom Equity Partners, go to For more information on Robert Turano, go to
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Private Equity Value Creation Through Focus, Culture, and Tenacity
12/03/2025
Private Equity Value Creation Through Focus, Culture, and Tenacity
Eliot Kerlin, Founder and Managing Partner of Broadwing Capital, shares the unconventional path that took him from pre-med to private equity and the principles that now guide his firm’s approach to building durable, high-performing companies. He unpacks Broadwing’s value-creation playbook, the importance of forecasting NTM cash flow, and why culture, people analytics, and in-person leadership sit at the center of long-term success. Eliot also reflects on the tenacity required to launch a firm—and the clarity needed to focus on what truly matters. It’s a grounded, thoughtful conversation that sharpens anyone building or leading in today’s private equity landscape. Episode Highlights: 1:04 – Growing up in Texas, early influences, and the winding path from pre-med to finance 3:44 – Breaking into Wall Street from a non-target school and the power of persistence 10:51 – Lessons from hands-on jobs and how service work shapes leadership instincts 17:54 – What makes a “good business” vs. a “good investment” and why NTM cash flow matters most 26:55 – The tenacity and structure behind launching Broadwing Capital in a tough fundraising market 33:42 – How Broadwing builds culture, trust, and alignment inside portfolio companies 48:35 – Eliot’s most influential books and the thinking frameworks he uses to lead and invest For more information on Broadwing Capital, go to https://broadwingcap.com/ For more information on Eliot Kerlin, go to https://www.linkedin.com/in/eliot-kerlin-89432b/
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Private Equity Sourcing, Culture, and Data Discipline at Monomoy
11/19/2025
Private Equity Sourcing, Culture, and Data Discipline at Monomoy
Renn Iaboni, Managing Director at Monomoy Capital Partners, joins Sean to discuss how disciplined sourcing, cultural alignment, and a 15-year proprietary data engine shape Monomoy’s approach to private equity. He shares how engineering training, relationship-driven BD, and resilience forged through career adversity inform the way he builds high-trust deal pipelines. Renn also details how Monomoy’s Beacon platform connects BD, investment, and credit teams to operate as one cohesive firm. It’s a candid look at what modern private equity excellence really requires — and why Monomoy’s model stands apart. Episode Highlights 1:19 – Growing up in New York, engineering ambitions, and the winding path into private equity 3:04 – How engineering training equips professionals for ambiguity and problem-solving in PE 9:40 – Renn’s pivotal career setback at Macquarie and how building a new practice became an inflection point 14:46 – Why Monomoy’s integrated model works and how cross-functional collaboration is reinforced 17:53 – Inside “Beacon,” Monomoy’s proprietary CRM and sourcing engine 20:58 – A real case study: tracking Wapac for years and how long-term data compounds sourcing advantages 23:54 – Renn’s advice to his 22-year-old self and how energy, not passion alone, should guide career choices
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Drew Meyers on Value Creation at Seaport
11/05/2025
Drew Meyers on Value Creation at Seaport
In this episode of Karma School of Business, Sean Mooney interviews Drew Meyers, Partner at Seaport Capital. Drew shares how his unconventional path—from off-track betting to M&A integration—shaped his approach to lower middle-market private equity. He breaks down Seaport's focused strategy on founder-led businesses, where they invest early in professionalization across strategy, sales, and finance. The conversation covers everything from the importance of relationships and never burning bridges to how BluWave helps Seaport access cost-effective resources tailored to smaller portfolio companies. Episode Highlights: 2:00 - Drew's winding path into PE, including bartending and selling industrial insulation 6:00 - Why M&A integration experience is valuable training for private equity 13:00 - Working with founder-led businesses and understanding the founder mindset 19:00 - Seaport's three-part value creation playbook: strategy, sales, and finance 29:00 - How to professionalize early-stage companies without overspending 32:00 - Finding cost-compatible resources for $3M EBITDA businesses 35:00 - Career advice: never burn bridges and do things the right way For more information on Seaport Capital, go to https://www.seaportcapital.com/ For more information on Drew Meyers, go to https://www.linkedin.com/in/drew-j-meyers/
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Private Equity in Q3 2025: Moving from Defense to Offense
10/22/2025
Private Equity in Q3 2025: Moving from Defense to Offense
In this special edition of the Karma School of Business, Sean Mooney, Founder and CEO of BluWave, breaks down key findings from BluWave’s Q3 2025 Private Equity Insights Report. Drawing parallels between his son’s fencing lessons and today’s economic climate, Sean explains how the best investors are shifting from a defensive stance to an offensive one. Seeing through the noise, leaning forward, and playing to win. He shares fresh data showing that deal activity, due diligence spending, and AI investment are all surging—signs of an industry on the offense. From the manufacturing renaissance to the rise of flatter, AI-enabled organizations, Sean offers a grounded, data-backed view of where private equity and the broader economy are heading next. Episode Highlights 1:07 – The Sport of Fencing and PE: what private equity can learn from shifting from defense to offense 4:40 – Why the U.S. economy is “good enough” and accelerating despite the noise 11:45 – Deal data shows confidence returning: due diligence projects up 43% year-over-year 14:33 – PE firms’ AI and analytics demand surges 300% and 1,600% for AI/ML advisory 18:39 – Manufacturing reshoring, venture collaboration, and the next wave of innovation 21:06 – The coming of flatter, AI-enabled organizations and what it means for talent 25:39 – Sticky inflation, rate cuts, and why the next economic cycle is already underway For more on BluWave, visit: https://www.bluwave.net/ To request the full Q3 2025 Insights Report, visit: https://www.bluwave.net/insights-report/
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Laurens Goff on Focus, Visibility, and Driving Value in B2B Services
10/08/2025
Laurens Goff on Focus, Visibility, and Driving Value in B2B Services
In this episode of Karma School of Business, Sean Mooney interviews Laurens Goff, Co-Founder and Managing Partner at Stone Goff Partners. Laurens shares insights from his path to private equity, the founding story of his firm, and how leveraging focus and visibility transforms lower-middle-market companies. Key points include: 1:05 - Laurens’ journey: From early life in Providence to successfully navigating investment banking and private equity. 9:52 - Stone Goff’s evolution: Lessons learned as an independent sponsor and the foundation of a committed capital fund. 19:41 - The scorecard for success: Why visibility, recurring revenue, and vertical ecosystem focus create winning business models. 25:57 - Enabling value creation: The TEOS framework (Talent, Experts, Outsourced Resources, Support) and collaborative growth strategies. 34:52 - Supporting portfolio companies: Stone Goff’s management summits and thought leadership tools to foster executive collaboration. For more information on Stone Goff, go to For more information on Laurens Goff, go to For more information on BluWave and this podcast, go to
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Scaling Consumer Brands: Jared Stein’s Approach to Growth and Loyalty
09/24/2025
Scaling Consumer Brands: Jared Stein’s Approach to Growth and Loyalty
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: Connect with Jared Stein on LinkedIn: Explore more episodes:
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Private Equity’s AI Shift: Bob Morse on SaaS, Pricing, and Alignment
09/10/2025
Private Equity’s AI Shift: Bob Morse on SaaS, Pricing, and Alignment
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: Connect with Bob Morse on LinkedIn: Explore more episodes:
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Focus, Metrics, and AI: Dan Gaspar’s Private Equity Strategies
08/20/2025
Focus, Metrics, and AI: Dan Gaspar’s Private Equity Strategies
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
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Private Equity’s Resilience and Q2 2025 Economic Trends
08/06/2025
Private Equity’s Resilience and Q2 2025 Economic Trends
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/
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From Turnarounds to Growth: Ben Gaw on Building High-Performing Teams in Private Equity
07/16/2025
From Turnarounds to Growth: Ben Gaw on Building High-Performing Teams in Private Equity
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 For more information on Ben Gaw, go to For more information on BluWave and this podcast, go to
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What Dave Shephard Learned at West Point—and Applies in Private Equity
07/09/2025
What Dave Shephard Learned at West Point—and Applies in Private Equity
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 For more information on Dave Shephard, go to For more information on BluWave and this podcast, go to
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Board Meetings that Matter: Strategy, Structure, and Impact
07/02/2025
Board Meetings that Matter: Strategy, Structure, and Impact
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 For more information on BluWave and this podcast, go to
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Elements of Value in Private Equity (Part 4): How PE Leaders Evaluate Businesses
06/18/2025
Elements of Value in Private Equity (Part 4): How PE Leaders Evaluate Businesses
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 . To get connected to a world-class, perfect-fit service provider from our curated network, go to .
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Two Decades of Investing in Franchise/Multi-Unit Businesses with CapitalSpring
06/11/2025
Two Decades of Investing in Franchise/Multi-Unit Businesses with CapitalSpring
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: To connect with Richard Fitzgerald: For more on Challenge Aspen: For more on the Michael J. Fox Foundation: Explore more episodes of Karma School of Business:
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The Private Equity Playbook for Add-On Strategy, Data Discipline & Value Creation | Brooke Ablon, Fort Point Capital
06/04/2025
The Private Equity Playbook for Add-On Strategy, Data Discipline & Value Creation | Brooke Ablon, Fort Point Capital
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: For more information on Brooke Ablon, go to: For more information on the Karma School of Business podcast, go to:
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How Private Equity Pros Build Enduring Value with Discipline & Data | Brian Neider, Lead Edge Capital
05/28/2025
How Private Equity Pros Build Enduring Value with Discipline & Data | Brian Neider, Lead Edge Capital
Brian Neider, Managing Partner at Lead Edge Capital, joins BluWave CEO Sean Mooney to break down what great private equity investing really looks like — from systematic sourcing to building one of the most engaged LP networks in the industry. This episode is packed with real-world lessons from 20 years of disciplined execution and growth equity innovation. Episode Highlights: [1:09] Brian’s early lessons in entrepreneurship from running a vending business to building top-of-funnel strategy at Bessemer [6:09] How 20,000 cold calls built the foundation for Lead Edge Capital’s thesis-driven sourcing [17:06] The 8-point “strike zone” framework Lead Edge uses to evaluate private equity opportunities [27:06] How Lead Edge’s LP network drives differentiated value creation and portfolio company support [34:30] The role of instrumentation and data discipline in unlocking portfolio performance [39:57] Advice to early-career professionals: treat your time, relationships, and decisions like investments [45:25] Life hacks from an investor: walking pads, airline points intel, and email follow-up tools For more information on Lead Edge Capital, go to: For more information on Brian Neider, go to: For more information on the Karma School of Business podcast, go to:
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Don McDonough on Leading A Private Equity Business Development Function
05/21/2025
Don McDonough on Leading A Private Equity Business Development Function
In this episode of Karma School of Business, Sean Mooney speaks with Don McDonough, Managing Director at GTCR, about his career in private equity and his role in building GTCR’s business development function. Episode Highlights: 1:24 - Path to Private Equity: Don’s journey from investment banking to private equity and his early career experiences. 4:56 - Leadership Lessons: How sports and teamwork shaped Don’s approach to leadership and problem-solving. 10:09 - Building a New Role: Challenges and strategies in developing GTCR’s business development function. 27:04 - Value Creation Themes: GTCR’s focus on technology, AI, and proactive risk management strategies to drive portfolio growth. 33:02 - Advice to Younger Self: Don’s insights on identifying strengths, following passions, and seeking mentorship. For more information on GTCR, go to For more information on Don McDonough, go to For more information on BluWave and this podcast, go to
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Foundations of Leadership: Private Equity Insights with Dave Schnadig
05/14/2025
Foundations of Leadership: Private Equity Insights with Dave Schnadig
In this episode of Karma School of Business, Sean Mooney connects with Dave Schnadig, Co-President of Cortec Group, for an inspiring conversation about private equity, leadership, and the many lessons Dave has learned through his dynamic career. Dave shares his journey from his family’s entrepreneurial roots to leading one of private equity’s most successful firms. Along the way, he dives deep into stories of overcoming challenges, including the Yeti turnaround, managing tariffs, and how to guide portfolio companies through dynamic markets. Episode Highlights: 1:14 - Formative Years: Dave’s entrepreneurial childhood and lessons from his family business that shaped his approach to private equity. 7:18 - Journey to Cortec Group: How Dave’s experience in investment banking and private equity led him to one of the most unique models in the industry. 20:33 - Philosophy of Ownership: Why being “all in” is critical to succeeding in private equity, both for GPs and portfolio leaders. 22:35 - Yeti’s Turnaround Story: How tenacity and smart strategic decisions transformed a significant challenge into one of private equity’s top home runs. 42:10 - Mitigating Tariffs: Dave explains Cortec’s proactive approach to addressing tariffs and supplier diversification across portfolio companies. 48:27 - Adventure and Balance: Dave’s advice for finding balance through curated family trips and why experiences matter as much as success in business. For more information on Cortec Group, go to For more information on Dave Schnadig, go to For more information on BluWave and this podcast, go to
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