Dry Powder: The Private Equity Podcast
Previously on Dry Powder, John Maldonado, managing partner at Advent International, explained how Advent has been one of the most consistently global firms in the industry.
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Today on the show, we’ll explore how the firm is navigating longer holding periods, harder exits, and rapid technological change.
“Deals are happening,” John explained to me, “but they’re earned and not given. You need to be really intentional, even at the underwriting stage, about the investments you’re making, about how you are going to exit, to whom, and why they will buy it.”
I ask John how he’s thinking about GP–LP alignment today. We’ll also explore the practical ways AI is creating value across the firm’s portfolio companies, and how Advent is using AI internally—including what John calls a surprisingly fun tool for their investment committee.
“We have an IC AI robot,” John explains. “And I want to be clear: That robot does not have a vote. It is not a voting member. It’s an observer. But it has proven to be an incredibly valuable tool, and we just started using it in the last three months.”
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.