Dry Powder: The Private Equity Podcast
If you ask Flor Kassai what matters most when choosing a business to invest in, her answer is straightforward: “I want to back a class A management team,” she says.
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Flor is a managing partner and head of buyout at Inflexion, a European mid-market private equity firm that began in the UK and has expanded across Northern Europe. What sets Inflexion apart, she argues, is not speed but patience. The firm may spend years getting to know a company and its management team before making an investment.
“The vast majority of the relationships that our team builds don’t go anywhere,” Flor says. “And you can get hugely frustrated or actually you can accept that that’s part of what we do: You build lots of relationships, and a very, very, very small proportion of them are going to flourish.”
Today on Dry Powder, I ask Flor how she decides which management teams are worth years, or even a decade, of attention. We’ll also explore how Inflexion turns that patience into an advantage after a deal closes, using a structured, three-month process to reassess a business and sharpen its value-creation priorities.
The Private Equity Podcast
In our podcast series, Bain's Hugh MacArthur interviews leading experts on the trends and opportunities that will redefine the private equity industry.