Dry Powder: The Private Equity Podcast
Previously on Dry Powder, David Andrews, co-CEO of Gryphon Investors, shared why he believes we’ve entered one of the harshest cycles in private equity history and when he expects the industry to come out of it.
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Today, in part two of our conversation, we turn our attention to operational excellence.
David says, “The challenge for middle-market firms is: How do you build shared services and capabilities of the large firms?”
Gryphon was an early pioneer here, long before operational value creation became the industry standard. Since the mid-nineties, the firm has been recruiting CEOs, functional specialists, and even organizational psychologists—a blend of talent most middle-market firms wouldn’t even contemplate.
“We have an ops group that now has 40 employees in it, and we have 160-plus employees for an $11 billion AUM firm,” David says.
I ask David to take us inside the operating team and show us how a unique mix of talent could give Gryphon a competitive edge, particularly in a downturn.
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.