Private Equity FunCast

Afleveringen

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  Private Equity's About to Get a Lot Less Private 05.08.2026 1u 1min

  40% of PE firms and 60% of credit funds still track their portfolios on spreadsheets. That's now a way to monitor a few trillion in AUM. Private equity (and credit) are about to get way more transparent as retail investors get access to PE, and the tools you need to monitor and report your exposure must evolve. The products are way ahead of the plumbing.  Devin sits down with Kevin Hsu, founder of Lumonic, a portfolio monitoring software company now part of PitchBook. We discuss Kevin's early career in private markets technology and what that taught him about the difference between the needs of VCs and PE firms. We talk about the coming convergence of public and private markets, and why the old ways of doing things (in spreadsheets) won't cut it in the new world of heightened transparency and regulation. ParkerGale is in the middle of automating much of its internal workflows with new AI-powered tools, so this conversation will help other funds think through the options. Should you roll your own (Kevin has a surprising opinion on this), stick with what you've got, or make a switch? What should you expect from your software provider and how do you handle those edge case portfolio companies? We cover all this and more with Kevin. https://www.lumonic.com/  
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  PE GUY Meets an Actual PE Guy 29.07.2026 1u 18min

  PE GUY turned a Snapchat filter into millions of views and a seven-figure business. Host Devin Mathews (a real PE guy) conducts due diligence on Johnny Hilbrant Partridge's background, business model, and the wealthy towns he's taking on next. We sat down with Johnny in PE GUY's natural habitat -- a Winnetka, IL pool house to figure out how a goofy internet character became an oddly accurate and honest mirror of the private equity industry. Johnny grew up in Winnetka and now lives in Wellesley (two classic PE Guy towns). He went to New Trier (the affluent North Shore high school that inspired "Breakfast Club"), played water polo at the University of Denver, worked for the Ellen Degeneres Show, and the PE-backed Barry's, and Soul Cycle before creating the viral character. What started out as an Instagram reel to make his friends laugh is now generating millions of views from more than 500,000 followers. We go deep into the PE GUY universe. Catchphrases like "decent," "substantial," "due to my role," plus his three kids named Tarantino, Montauk, and EBITDA. Not to mention Wifey and Nanny's #1, #2, and #3. We also break down Johnny's revenue streams: Cameo, brand deals, appearances, and PE GUY swag. Then Johnny puts Devin under the microscope and asks, "Can private equity ever be stopped?"
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  From Sales Rep to $4B GTM Leader: The Playbook for Building Sales Teams (w/ Sam Levy of NetSuite) 22.07.2026 1u 8min

  Sam Levy's first sales job involved a phone book, a rotary phone, and 200 cold calls for one yes. He was still in college when he started a telemarketing gig with no playbook, no CRM, no email. Eighteen months in, the company went public, and the telemarketing kid was sipping champagne in the boardroom. This episode reveals everything that happened between that room and the one he sits in now: head of go-to-market strategy and execution at Oracle NetSuite, running a business that's grown from $250 million to $4 billion. Sam walks Devin through how to build a career in software sales, rung by rung: how to pick your first sales job and your first boss; why hustle gets you started but cadence gets you promoted; why the top rep usually makes a rough first-time manager. He tells us when to leave a job, when to let a rep go, and what to do with the lone wolf who crushes quota but poisons the room. Plus, a prediction: 90% of the next generation of software CEOs will come out of sales and marketing, not engineering. Whether you're an operating partner, an SDR in your first seat or a CRO wondering what's next, this is the insider's guide to success. Discover more at NetSuite.ai
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  How a Tough PE Market & AI are Changing Exec Search (w/ Nick Cromydas of Hunt Club) 15.07.2026 51min

  The deep Rolodex model for headhunters doesn't cut it anymore. PE's cookie-cutter hiring scorecards now miss the best candidates in a complex world. And more and more funds are hiring internal teams to source CEOs. The executive search business is under pressure and has to adapt to survive. In this episode, Devin sits down with Nick Cromydas, to answer the question: how does executive search stay relevant? Nick is the co-founder and CEO of Hunt Club, an AI-enabled search firm that pairs a GLG-style expert network with first-party data from countless executive searches. His team has conducted thousands of searches for hundreds of investor-backed companies.
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  Financial Modeling Will Never be the Same (w/ Tarun Amasa of Endex) 08.07.2026 57min

  In the past year, Excel AI plugins have become increasingly powerful, raising the question: Are Analysts and Associates about to become obsolete, or are we entering the age of the 10x modeler? On this episode, Devin and Caroline Phipps, a ParkerGale VP, go deep on AI and how it's changing the game. They're joined by Tarun Amasa, Founder & CEO of Endex, an OpenAI-backed startup automating modeling for private equity and investment banks. We discuss building models from scratch, automating workflows, and auditing it all so you don't look bad in the IC. Learn about our use cases for deals and portfolio company work, and where we think the tools are headed from here. Plus, hear our predictions on how Endex and other AI-based tools will change the way private equity firms do their jobs in the future. Endex is an Excel-native AI Agent that accelerates financial modeling and data analysis. 
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  Private Equity is Coming For Your 401(k) (w/ PitchBook's Nizar Tarhuni) 01.07.2026 54min

  Your 401(k) is about to get access to private equity, but how, in what form, and at what price are all still TBD. Which is kind of a problem for such a big change. The pitch for putting private markets in retirement accounts is all about fairness: regular people got locked out of the hottest private companies, such as SpaceX, OpenAI, Anthropic, and Stripe. But the products actually getting built are something else entirely. They are semi-liquid, evergreen, with various fee wrappers, and most of what you'll be offered is actually private credit rather than private equity or venture capital. Devin is joined by return guest Nizar Tarhuni, PitchBook's EVP of Research & Market Intelligence, to get into how these structures work, what to look out for, what questions to ask, and how, in the right circumstances, privates can work well in retirement accounts. They both agree, however, it is not a matter of if, but when and how, privates are coming for your 401(k). PitchBook.com  PitchBook Research 
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  Will AI Kill Consulting? (w/ IGS CEO Matt Umscheid) 24.06.2026 58min

  AI is reshaping the consulting industry faster than the internet or remote work ever did. Some say the industry's days are numbered. So why are Anthropic and OpenAI building PE-backed consulting firms of their own? And how will private equity firms and the companies they own feel the change? We get into what AI is actually doing to the consulting industry, why it's hitting faster than any tech shift before it, and how consulting firms are using AI to transform themselves to stay ahead of their clients. If you're an investor, an operator, a consultant, or just trying to figure out where the AI transition leaves you, this episode separates the signal from the noise. Joining Devin is Matt Umscheid, CEO of Investor Group Services, a consulting firm supporting hundreds of middle market private equity firms. Matt is a former consultant, operating partner, and three time PE-backed CEO so he's seen the consulting model from every seat that matters. For more information, visit their website (https://igsinsights.com/) or LinkedIn (https://www.linkedin.com/company/igsinsights/)
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  How Private Equity Is Rethinking AI & Tech Due Diligence (According to Code & Co.) 17.06.2026 1u 23min

  Artificial intelligence is changing the rules of software investing, forcing private equity firms to adapt quickly and carefully. In this episode, we're joined by the team from Code & Co., one of the leading AI and tech due diligence firms serving private equity investors, to discuss how AI is transforming the way software companies are evaluated before a deal closes. Jim sits down with Code & Co. Managing Partners Dan Bender and Lukas Ingelheim along with Head of North America Kirby Montgomery to explain why tech due diligence is no longer just a checkbox exercise. Dan, Lukas and Kirby walk us through real-world examples of overengineered software, cloud optimization opportunities worth millions of dollars, and how PE firms can identify companies that are positioned to thrive rather than become the next commoditized AI feature. Whether you're a private equity investor, software executive, operating partner, founder, or technology leader, this episode offers a practical look at what separates durable software businesses from those at risk of being disrupted. About Code & Co.: Founded in 2016, Code & Co. has close to 1000 engagements behind them for more than 200 global funds. They are a global and fast-growing practice with offices in Berlin, London, Paris and New York. From a fast first read-through to post-close value creation, Code & Co. works across the full deal lifecycle on both the buy-side and sell-side. The companies covered range from deep AI software businesses to tech-enabled players, and they also run IT due diligence for non-technical companies. Every member of the team is an operator with hands-on tech, product, and AI experience. That experience helps them take a confident view on where AI is building a real moat versus just being a feature that gets commoditized away. To learn more about Code & Co., check out their website (https://www.codeandco.com/) or visit them on LinkedIn (https://www.linkedin.com/company/codeandcogroup/). You can also connect directly with Dan, Lukas, and Kirby on LinkedIn: https://www.linkedin.com/in/thedanbender/ https://www.linkedin.com/in/ingelheim/ https://www.linkedin.com/in/kirbymontgomery/
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  What's Working NOW At Private Equity Owned Companies 10.06.2026 24min

  It's hard to execute today. Growth has slowed, and costs are up. If you own, advise, or operate a PE-backed company, this episode offers a behind the scenes look at some plays you can run to execute your way through the chop. Paul Stansik and Jim Milbery cover sales training, customer support data, weekly go-to-market reporting, speed-to-lead, AI-assisted engineering, video marketing, release velocity, and other practical moves that are improving execution. These are all moves you can make that we've seen make a difference. Try some out yourself and let us know how it goes. Private Equity FunCast New Episodes Every Wednesday 📫 Subscribe to our Substack 📫 https://substack.com/@pefuncast  💻📱Follow us on our socials📱💻 LinkedIn: https://www.linkedin.com/company/parkergale-capital Instagram:https://www.instagram.com/pefuncast TikTok: https://www.tiktok.com/@pefuncast X: https://x.com/PEFunCast Facebook:https://www.facebook.com/people/PE-FunCast ✉️CONTACT US ✉️ Email: pefuncast@parkergale.com Website: parkergale.com 📋ABOUT US📋 We're your friends at ParkerGale Capital, a team that's invested a billion dollars buying and building founder-owned B2B software companies. We're a mix of investors and operators who work shoulder-to-shoulder with our management teams. We like to say we do private equity with you, not to you. We started the FunCast 12 years ago, with 300+ episodes and 2 million downloads, to share what we've learned along the way. It's the field guide we wish had existed when we were starting out. So we made our own. We hope you like it. Additional disclosures: https://www.parkergale.com/terms-of-use
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  Inside Private Equity's AI-led Transformation (w/ Kyle Roemer of Accordion) 03.06.2026 1u 17min

  Everyone says they are one-shotting workflows with AI. We brought on the guy who can tell us what's actually happening in middle-market private equity companies. Kyle Roemer, Head of Data & AI at Accordion, has a unique view because his firm advises over 350+ private equity clients. He can see what's real and what's hype, and Accordion has the Ramp data to tell the difference. Kyle walks Devin through the rapid changes over the past year, function by function, so you can decide if you're ahead or behind. One prediction: the Office of the CFO will go through the biggest revolution over the next year, which they believe will "Make Finance Fun Again!" Kyle Roemer is the host of Accordion's podcast "AI & PE: The Future of Value Creation"  For more about Accordion visit accordion.com and reach out to Kyle and his team at ai@accordion.com. Also check out Accordion's latest AI white paper: "AI in PE: Ahead of the market, behind the curve" in partnership with Ramp to see where AI adoption stands
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  How We Broke Into Private Equity 27.05.2026 40min

  How do you make the leap from the college quad to private equity? Associates Liz Xu and Niko Ivanisevic share their unexpected journey to the offices of ParkerGale. They get honest about imposter syndrome, the myth of the "perfect path," building a personal story beyond your resume, and why you should never chew gum in a job interview. Whether you're an undergrad planning your career or a junior banker wondering what's next, this episode is full of practical advice for how to break into the industry.
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  The Secret Formula to Drive Your Company's Growth 20.05.2026 58min

  Most B2B software companies have more growth left in what they already sell. This framework shows exactly where to find it — and where to stop looking. Jim Milbery and Paul Stansik walk through the Ansoff Matrix, a simple four-quadrant tool for organizing every growth conversation a software company will ever have. New market or existing market? New product or current product? Sounds obvious, but it's an argument that can derail board meetings, kill roadmaps, and send sales teams down blind alleys. What if chasing new markets and new products is actually the thing slowing you down? Jim and Paul make the case for staying in the green box.
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  The Right Way to Hire Salespeople 13.05.2026 1u

  Most B2B sales reps are professionally trained to make you like them in 30 minutes. But when you're recruiting salespeople, likability doesn't guarantee success. Make the wrong hire and you can lose two years and a chunk of your growth plan. In this episode, Devin and Paul walk through the five qualities ParkerGale tests for (customer focus, structure, accountability, problem-solving, drive), the specific questions we ask in a panel interview, and the trick question that breaks through every rapport-building defense salespeople can muster.
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  How Operating Partners Create Value in Private Equity 06.05.2026 46min

  Most private equity firms claim to use a leather-bound "value creation" bible nobody's allowed to touch. The truth? It's more of a Cheesecake Factory menu. In this episode, Paul and Jim break down what operating partners actually do once the deal closes — the three buckets that matter (revenue, cost, risk), why many software companies leave revenue on the table with their existing customers, and what "don't buy a company you can't sell" looks like in practice.
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  The Evolution of PE Ops 29.04.2026 1u

  In 1995, the typical "PE operating team" was a few old-timer ex-CEOs. Today there are 20,000 of them. Cass and Paul from ParkerGale's ops team sit down with Devin to walk through how private equity operations actually evolved — from the "I got a guy" Rolodex era, to the captive consulting model, to today's proliferation of professional operators. Plus hot takes on the AI-specialist hiring boom, why a lot of operating teams will get skinnier, and how to know if you're helping or propping up a company.
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  10 Lessons From 10 Years Running Our Own Private Equity Firm 22.04.2026 1u 2min

  Do operating teams matter? Why is sourcing broken? Are add-ons a strategy or a crutch? What firms have actually "stayed small?" In this episode, Devin and Jim get introspective, reflecting on their biggest lessons to mark the 10-year anniversary of the final close of ParkerGale's first fund. Tell us what you've seen change over the past ten years, and what has stood the test of time.
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  The Private Equity Glossary - 50(ish) Terms You Should Know 15.04.2026 1u 12min

  LPs. GPs. Carry. Waterfalls. Pari passu. The unlock. Quantum. De-Risk. Niko originally thought one of these was a French dish. Liz wants to ban another from all future meetings. In their PE Funcast debut, ParkerGale Associates Liz & Niko join Devin to demystify the private equity alphabet soup, breaking down everything from formal vocabulary to finance bro speak. Whether you're a first year Associate or a founder looking to sell, this is the lingo you should know.
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  The Ghost of Software Future 08.04.2026 1u 30min

  In February of this year, an obscure research report triggered a $1 trillion wipeout in software stocks in seven days. In this episode we decipher what actually happened — and why AI is more likely to be a gift to enterprise software than a death sentence.   Devin and Jim have invested through every major tech transition: PCs, client-server, the browser, mobile, the cloud. This time, they're breaking down the four bear cases for enterprise software (private credit, seat licensing, vibe coding, the AI bubble) and sharing what's actually happening inside their portfolio. The ghost shows up every decade. Here's how not to get spooked.   READ: "The Ghost of Software Future" on Substack
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  When And How To Sell Your Company 01.04.2026 58min

  Selling a company isn't just about price - it's about timing, preparation and process. In this episode, Devin sits down with Ryan Milligan to break down how to sell a company - from timing the exit to running a competitive process and getting a deal across the finish line. They walk through the full private equity playbook including when to sell, whether or not to hire a banker and how deals move from early conversations to signed LOIs and closing. If you've ever wondered how exits happen behind the scenes, this episode illustrates how it really goes down.
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  You Just Bought A Company. Now What? 25.03.2026 52min

  Everyone loves the chase but what happens when the ink dries on the deal and you actually own a company? In this episode, Jim sits down with Paul Stansik to pull back the curtain on how the combined deal, ops, and management teams come together in the first few weeks and months post-close. They break down what life looks like immediately after an acquisition, including setting up governance, identifying talent gaps and figuring out where the real opportunities (and risks) are hiding. Jim and Paul also hit on the softer side of what happens during the early-hold period, and the importance of curiosity, connection, and trust-building inside ParkerGale's approach to value-creation. Ever wonder what your investors are thinking about during the first few months of a new investment? Curious about what happens when diligence is over and things get real? This is the episode for you.