This special replay highlights an essential episode on how private equity firms identify where to invest and how to strategically source opportunities. Doug McCormick and Lloyd Metz join Sean Mooney to explore the art of specialization, building investment theses, and balancing focus with innovation. They share insights into why focus matters for both LPs and success in deal-making, how sourcing strategies evolve from industry expertise, and why relationships with investment bankers and direct outreach are critical. Whether you’re a business owner or a private equity professional, this episode outlines the foundational strategy behind deal selection and sourcing.

Episode Highlights

2:07: Doug and Lloyd discuss why staying within an investment thesis matters for LPs and how firms develop their areas of focus.

8:46: The importance of specialization: How focus, relationships, and expertise enhance credibility with business owners and deal sources.

19:48: Building investment theses: Tracking data, trends, and customer behavior to unlock adjacent opportunities.

34:08: Strategies for deal sourcing: Working with investment bankers, targeting specific sectors, and building long-term credibility.

50:52: The future of private equity marketing: How firms can build brands, leverage new tools, and attract opportunities directly.

For more information on the podcast, visit bestbutneverfinal.buzzsprout.com and embark on your journey to private equity excellence today.

Visit us on LinkedIn at https://www.linkedin.com/company/best-but-never-final-podcast/
Visit us on Instagram at https://www.instagram.com/bestbutneverfinal/

For information on HCI Equity Partners, go to https://www.hciequity.com
For information on ICV Partners, go to https://www.icvpartners.com
For information on BluWave, go to https://www.bluwave.net

Kicking off a new series on emerging investment themes, Lloyd Metz, Doug McCormick, and Sean Mooney examine the profound effects of geopolitical complexity on private equity. This episode explores the growing trend of supply chain reshoring, the rise of infrastructure services, and how enterprises are grappling with heightened risks in today’s dynamic environment. Lloyd shares insights from a portfolio company aiding corporations in navigating federal policies and mitigating geopolitical challenges, while the group discusses what makes these businesses scalable, cash-generating, and attractive for investment.

Episode Highlights

2:27: Lloyd and Doug break down methods for sorting through massive amounts of information to uncover actionable investment ideas.

10:35: A focused thesis on how geopolitical tensions are shifting supply chains and driving demand for new infrastructure.

19:48: Deep dive into a portfolio company addressing enterprise risks and helping corporations adapt to government policies.

28:14: Building scalable professional services firms: From partnership models to enterprise value creation.

37:32: Leveraging insight into geopolitical dynamics for future investment opportunities and emerging industry trends.

For more information on the podcast, visit bestbutneverfinal.buzzsprout.com and embark on your journey to private equity excellence today.

Visit us on LinkedIn at https://www.linkedin.com/company/best-but-never-final-podcast/
Visit us on Instagram at https://www.instagram.com/bestbutneverfinal/

For information on HCI Equity Partners, go to https://www.hciequity.com
For information on ICV Partners, go to https://www.icvpartners.com
For information on BluWave, go to https://www.bluwave.net

In this episode, Golub Capital’s Senior Managing Director, Greg Cashman, joins Lloyd Metz, Doug McCormick, and Sean Mooney to uncover the critical role of direct lenders in private equity. Greg shares Golub’s transition from private equity to direct lending, the importance of alignment between lenders and PE sponsors, and their underwriting strategies for companies and sponsors. Explore how private credit markets have evolved, what makes the best sponsors stand out, and why 2025 is shaping up to be a pivotal year for M&A. Packed with insights from decades of experience, this is an essential listen for private equity professionals and investors.

Episode Highlights

2:20: Greg shares Golub Capital’s origin story and its strategic pivot from private equity to direct lending.

8:48: The benefits of specialization: Why Golub focuses on private equity-backed lending and the advantages sponsors bring to transactions.

20:32: Underwriting sponsors: How Golub evaluates private equity firms and builds trust through transparency and long-term partnerships.

29:08: The rise of private credit markets post-2021 and how Golub positions itself to support sponsors through tailored debt solutions.

37:32: Managing underperformance: The importance of transparency, trust, and creative problem-solving between sponsors and lenders.

47:46: 2025 predictions: Why improving capital markets, favorable economic trends, and M&A momentum could make it a banner year for private equity.

For more information on Golub Capital, visit https://golubcapital.com/

For more information on the podcast, visit bestbutneverfinal.buzzsprout.com and embark on your journey to private equity excellence today.

Visit us on LinkedIn at https://www.linkedin.com/company/best-but-never-final-podcast/
Visit us on Instagram at https://www.instagram.com/bestbutneverfinal/

For information on HCI Equity Partners, go to https://www.hciequity.com
For information on ICV Partners, go to https://www.icvpartners.com
For information on BluWave, go to https://www.bluwave.net