Private Equity Experience

Don’t Count Your Dollars Yet! The Truth About PE Valuations

Is the "Crazy Math" of private markets masking the truth about your investments? In this episode of the Private Equity Experience Podcast, hosts Rory Leaphart, Ed Barton, and Emily Sander break down a recent Wall Street Journal article titled "The Crazy Math Confronting Everyday Investors in Private Markets." If you’ve ever wondered how private equity and private credit funds actually value their portfolios and whether those numbers are real or just subjective "engineering," this episode is your backstage pass. What we cover in this episode: * Private Credit vs. Private Equity: The fundamental differences between lending assets and ownership stakes. * The "Squishy" Valuation Game: Why private equity valuations are like Olympic figure skating scores: highly subjective, beautifully modeled, and sometimes massaged to protect management fees. * Impairments & "Loss Harvesting": How managers strategically offset massive home runs by dumping underperforming assets at the exact right time. * Non-Traditional Structures: The truth about escalators, profit participations, and structured notes that traditional banks won't touch. * Sound Smart in Your Next Meeting: The exact questions to ask your fund managers to find out if their deck is based on fundamental analysis or GAAP accounting. Takeaway: Don't count your dollars before they hit the bank! In a volatile market, your portfolio values might swing by 20% or more. Proceed with caution. If you enjoyed this deep dive, make sure to LIKE, SHARE, and SUBSCRIBE wherever you get your podcasts! Got questions about your private market investments? Drop a comment below or hit up Ed and Rory! ============================== 🎙 Podcast – Strategies, PE 101 & witty banter [https://privateequityexperience.buzzsprout.com/] 📚 Book – On‑Ramp to Exit, full deal life cycle [https://amzn.to/41FXNQD] 🛠 Resources – Free templates, guides, tools [https://privateequityexperience.com/] 🔗 LinkedIn – Follow us for fresh PE insights [https://www.linkedin.com/company/private-equity-experience/] ================================ Who Are We? Three insiders. One mic. All things private equity — explained. Hi 👋 We’re Ed, Rory, and Emily — a CEO, a CFO, and a Chief of Staff — here to demystify the world of private equity. Between us, we’ve sat in the founder’s chair, run PE‑backed companies, and worked on the deal side, so we know the wins, the pitfalls, and the jargon (and we’ll explain it). Through the Private Equity Experience Podcast, our book On‑Ramp to Exit, and a library of free tools and templates, we share real‑world stories, practical strategies, and insider insights to help you navigate every stage of the PE journey — whether you’re leading a portfolio company, joining a deal team, considering PE, or just PE‑curious. 🔗Connect with Ed [https://www.linkedin.com/in/edwardjbarton/] 🔗Connect with Emily [https://www.linkedin.com/in/emilysander/] 🔗Connect with Rory [https://www.linkedin.com/in/private-equity-cfo/]

Inside Saudi Arabia’s PIF: Liquidity Pressure, LIV Golf, and the Future of Private Equity Investments

Saudi Arabia’s Public Investment Fund (PIF) once positioned itself as an unstoppable financial powerhouse, backing massive projects like LIV Golf, NEOM, and global sports investments. In this episode, the hosts break down why the $900 billion sovereign wealth fund is now facing liquidity pressure and what it reveals about risk, cash flow, and long-term investment strategy in Private Equity. The conversation explores how ambitious “empire-building” investments can clash with the fundamentals of disciplined capital allocation, especially when projects prioritize branding and global influence over financial returns. The team also examines whether investments like LIV Golf were strategic moves or costly ego-driven bets with no clear monetization plan. Listeners will gain insight into how Private Equity firms manage illiquid assets, the importance of diversification, and the tough decisions investors face when deals underperform. From sovereign wealth funds to traditional PE strategies, this episode offers a practical and engaging look at what happens when even the biggest investors need to slow down and rethink the playbook. ============================== 🎙 Podcast – Strategies, PE 101 & witty banter [https://privateequityexperience.buzzsprout.com/] 📚 Book – On‑Ramp to Exit, full deal life cycle [https://amzn.to/41FXNQD] 🛠 Resources – Free templates, guides, tools [https://privateequityexperience.com/] 🔗 LinkedIn – Follow us for fresh PE insights [https://www.linkedin.com/company/private-equity-experience/] ================================ Who Are We? Three insiders. One mic. All things private equity — explained. Hi 👋 We’re Ed, Rory, and Emily — a CEO, a CFO, and a Chief of Staff — here to demystify the world of private equity. Between us, we’ve sat in the founder’s chair, run PE‑backed companies, and worked on the deal side, so we know the wins, the pitfalls, and the jargon (and we’ll explain it). Through the Private Equity Experience Podcast, our book On‑Ramp to Exit, and a library of free tools and templates, we share real‑world stories, practical strategies, and insider insights to help you navigate every stage of the PE journey — whether you’re leading a portfolio company, joining a deal team, considering PE, or just PE‑curious. 🔗Connect with Ed [https://www.linkedin.com/in/edwardjbarton/] 🔗Connect with Emily [https://www.linkedin.com/in/emilysander/] 🔗Connect with Rory [https://www.linkedin.com/in/private-equity-cfo/]

High-Performance Teams vs Family Businesses in Private Equity

In this episode, the hosts explore a fundamental question in Private Equity: should you build a high-performance team of top external talent, or rely on trusted family members to run the business? Through real-world stories, they unpack the trade-offs between trust, competence, and scalability– especially during high-stakes moments like PE transactions. The conversation dives into the complexities of family dynamics, including trust gaps, role misalignment, and the emotional ties that can both strengthen and hinder performance. They also highlight how outside executives, especially in roles like Chief of Staff, can help bridge gaps and drive alignment. Ultimately, the episode reveals that there’s no one-size-fits-all answer. The key is aligning the right people to the right roles at the right stage of the business, while balancing performance with trust to maximize long-term value. ============================== 🎙 Podcast – Strategies, PE 101 & witty banter [https://privateequityexperience.buzzsprout.com/] 📚 Book – On‑Ramp to Exit, full deal life cycle [https://amzn.to/41FXNQD] 🛠 Resources – Free templates, guides, tools [https://privateequityexperience.com/] 🔗 LinkedIn – Follow us for fresh PE insights [https://www.linkedin.com/company/private-equity-experience/] ================================ Who Are We? Three insiders. One mic. All things private equity — explained. Hi 👋 We’re Ed, Rory, and Emily — a CEO, a CFO, and a Chief of Staff — here to demystify the world of private equity. Between us, we’ve sat in the founder’s chair, run PE‑backed companies, and worked on the deal side, so we know the wins, the pitfalls, and the jargon (and we’ll explain it). Through the Private Equity Experience Podcast, our book On‑Ramp to Exit, and a library of free tools and templates, we share real‑world stories, practical strategies, and insider insights to help you navigate every stage of the PE journey — whether you’re leading a portfolio company, joining a deal team, considering PE, or just PE‑curious. 🔗Connect with Ed [https://www.linkedin.com/in/edwardjbarton/] 🔗Connect with Emily [https://www.linkedin.com/in/emilysander/] 🔗Connect with Rory [https://www.linkedin.com/in/private-equity-cfo/]

Why Small Business Owners Are Saying No to Private Equity

In this episode, the hosts unpack a growing trend of small business owners rejecting private equity offers, highlighted by a plumber who repeatedly turned down buyout opportunities. They explore how PE firms identify and target fragmented industries, and why roll-up strategies remain a core playbook. The conversation dives into the real reasons behind founder resistance, from preserving legacy and culture to concerns about control and financial risk. Listeners will gain a balanced perspective on whether private equity is misunderstood or simply not the right fit for every business owner. ============================== 🎙 Podcast – Strategies, PE 101 & witty banter [https://privateequityexperience.buzzsprout.com/] 📚 Book – On‑Ramp to Exit, full deal life cycle [https://amzn.to/41FXNQD] 🛠 Resources – Free templates, guides, tools [https://privateequityexperience.com/] 🔗 LinkedIn – Follow us for fresh PE insights [https://www.linkedin.com/company/private-equity-experience/] ================================ Who Are We? Three insiders. One mic. All things private equity — explained. Hi 👋 We’re Ed, Rory, and Emily — a CEO, a CFO, and a Chief of Staff — here to demystify the world of private equity. Between us, we’ve sat in the founder’s chair, run PE‑backed companies, and worked on the deal side, so we know the wins, the pitfalls, and the jargon (and we’ll explain it). Through the Private Equity Experience Podcast, our book On‑Ramp to Exit, and a library of free tools and templates, we share real‑world stories, practical strategies, and insider insights to help you navigate every stage of the PE journey — whether you’re leading a portfolio company, joining a deal team, considering PE, or just PE‑curious. 🔗Connect with Ed [https://www.linkedin.com/in/edwardjbarton/] 🔗Connect with Emily [https://www.linkedin.com/in/emilysander/] 🔗Connect with Rory [https://www.linkedin.com/in/private-equity-cfo/]

The $1.3 Billion Hook: Did Private Equity Ruin the World’s Best Fishing Brand?

In this episode, we dive deep into the fascinating (and sometimes salacious) business of fishing. 🌊 We explore the journey of Simms Fishing, the iconic brand that went from a family-owned boutique in 1980 to a $1.3 billion private equity play. What happens when a brand built on craftsmanship and "Mom and Pop" loyalty scales for the masses? We discuss the recent retail boycott by small fly shops, the impact of the COVID-19 outdoor boom, and why professional guides are starting to ditch their favorite gear. In this episode, you’ll learn: * The Evolution of Simms: From specialized craftsmanship to a $1.3B valuation. 📈 * Private Equity vs. Quality: How "roll-up" strategies and PE ownership can change a brand’s complexion and alienate its core customer base. * The Big-Box Shift: Why Simms moved away from small shops to cater to giants like Bass Pro Shops and Cabela’s. 🛒 * Market Strategy: The "Louis Vuitton" model of addressing different market segments without cannibalizing them. * Personal Fails: Emily shares her hilariously embarrassing fishing excursions, including catching a glove and—ouch—her own arm. 🩹 Whether you're a business strategist, a private equity enthusiast, or just an angler wondering why your waders feel different, this deep dive into the outdoor industry is for you! ============================== 🎙 Podcast – Strategies, PE 101 & witty banter [https://privateequityexperience.buzzsprout.com/] 📚 Book – On‑Ramp to Exit, full deal life cycle [https://amzn.to/41FXNQD] 🛠 Resources – Free templates, guides, tools [https://privateequityexperience.com/] 🔗 LinkedIn – Follow us for fresh PE insights [https://www.linkedin.com/company/private-equity-experience/] ================================ Who Are We? Three insiders. One mic. All things private equity — explained. Hi 👋 We’re Ed, Rory, and Emily — a CEO, a CFO, and a Chief of Staff — here to demystify the world of private equity. Between us, we’ve sat in the founder’s chair, run PE‑backed companies, and worked on the deal side, so we know the wins, the pitfalls, and the jargon (and we’ll explain it). Through the Private Equity Experience Podcast, our book On‑Ramp to Exit, and a library of free tools and templates, we share real‑world stories, practical strategies, and insider insights to help you navigate every stage of the PE journey — whether you’re leading a portfolio company, joining a deal team, considering PE, or just PE‑curious. 🔗Connect with Ed [https://www.linkedin.com/in/edwardjbarton/] 🔗Connect with Emily [https://www.linkedin.com/in/emilysander/] 🔗Connect with Rory [https://www.linkedin.com/in/private-equity-cfo/]