The Hard Truth About Operational Excellence w/ KKR's Pete Stavros
KKR's Co-Head of Global Private Equity and Partner reveals the rigorous, long-term discipline required to drive real operational improvements.
Jun 23, 2026•27 min•Ep. 150
Dry Powder: The Private Equity Podcast
Hugh MacArthur, Chairman of Bain & Company's Global Private Equity practice, interviews leading experts on the trends and opportunities that will redefine the private equity industry.
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Episodes
Bain's Private Equity Midyear Report 2026: Executive Summary
Private equity is not in a crisis — rather, it’s stuck. The issue isn’t capital; it’s confidence. Read Bain’s 2026 Midyear Private Equity Report here . Register for our live webinar here .
Jun 08, 2026•13 min•Ep. 149
Software as a Coworker w/ Vista's Robert Smith
The CEO of Vista Equity Partners explains what it will take to win the “agentic revolution.”
Jun 02, 2026•33 min•Ep. 148
Exiting Well in Tough Markets w/ Apollo’s David Sambur
In part two of our interview series, the Co-Head of Private Equity at Apollo shares how they return capital well ahead of schedule and how they’re applying “clean sheet thinking” to AI.
May 26, 2026•20 min•Ep. 147
Buying Well at Scale w/ Apollo’s David Sambur
We ask the Co-Head of Private Equity at Apollo how he scours “less trafficked” parts of the market and how his team spreads ideas across a disparate set of industries, from casinos to airlines to auto-parts.
May 19, 2026•23 min•Ep. 146
New Normal, New Opportunities w/ Triton’s Peder Prahl
In part two of our interview series, we ask the CEO of Triton how higher interest rates, constrained leverage, and rising macro uncertainty are creating fresh opportunities for disciplined investors.
Apr 21, 2026•14 min•Ep. 145
Buying Before the Theme w/ Triton’s Peder Prahl
We ask the founding CEO of Triton how he invests in areas “before they become themes," and how he has built an organization that is both deeply entrepreneurial and strictly disciplined.
Apr 07, 2026•28 min•Ep. 144
Infrastructure's Next Frontiers w/ Stonepeak’s Michael Dorrell
In part two of our infrastructure series, the Stonepeak CEO explains how he’s zeroing in on investment opportunities across the energy sector and why logistics infrastructure could see surging demand in an era of deglobalization.
Mar 24, 2026•16 min•Ep. 143
Mastering the Infrastructure Cycle w/ Stonepeak’s Michael Dorrell
We ask a pioneer of modern infrastructure how to invest across booms, busts, and technological revolutions.
Mar 10, 2026•23 min•Ep. 142
Dry Powder: Live from NEXUS 2026
Jennifer Choi, CEO of ILPA, joins us for a wide-ranging conversation on the current mood among LPs, the mainstreaming of continuation vehicles, and the accelerating race to retail capital.
Feb 25, 2026•29 min•Ep. 141
Bain & Company’s Global Private Equity Report 2026: Executive Summary
A glance at the top-line numbers would suggest the industry is gaining traction, but is it? Read the full 2026 Global Private Equity Report, here . Register for our webinar on March 5, here .
Feb 23, 2026•16 min•Ep. 140
Megafund Capabilities on a Mid-market Budget w/ Gryphon's David Andrews
In part two of our interview with Gryphon’s co-CEO, we discover why his $11 billion firm built a 40-person ops team—something most middle-market firms wouldn’t even contemplate.
Feb 17, 2026•12 min•Ep. 139
Spotting the Downturn Early and Coming Out Ahead w/ Gryphon's David Andrews
We ask the co-CEO of Gryphon Investors how he foresaw one of the harshest cycles in the industry’s history and when he thinks it may finally break.
Feb 03, 2026•14 min•Ep. 138
What Kind of AI Cycle Are We Actually In?
The question for investors is not whether AI will boom or bust, but who may be unwittingly subsidizing the buildout.
Jan 20, 2026•14 min•Ep. 137
Macro Update: What Could Derail 2026?
Bain’s leading macroeconomic expert examines the cracks beneath the surface of the US market and how investors should prepare for post-globalization realities.
Jan 13, 2026•23 min•Ep. 136
Nothing Is Fundamentally Broken … Yet Again
If you follow me on LinkedIn , you’ve probably seen some of my weekly musings on the state of the private equity industry. One post from earlier this year struck a particular nerve. Titled “It’s Time to Clean Out the PE Attic,” it began with this observation: “There’s a musty corner in every LP’s private equity portfolio—a collection of tail-end buyout funds that quietly aged past their prime.” That post went somewhat viral nearly five months ago, and the question I’d ask today is whether the at...
Dec 16, 2025•6 min•Ep. 135
Yards After the Catch w/ TA’s Hythem El-Nazer
In part two of our interview series, we explore how TA hits the ground running on value creation.
Dec 09, 2025•14 min•Ep. 134
Finding a Needle in a Haystack w/ TA’s Hythem El-Nazer
How does TA find the time — and the manpower — to sift through 40,000 companies a year?
Dec 02, 2025•12 min•Ep. 133
Early Innings w/ Goldman Sachs’ Kristin Olson
In part two of our interview series with Kristin Olson, Global Head of Alternatives for Wealth at Goldman Sachs, we consider how Goldman Sachs is positioning itself for scale and just how far the industry is from truly democratizing private markets.
Nov 11, 2025•14 min•Ep. 132
Building the Future of Private Wealth Portfolios w/ Goldman Sachs’ Kristin Olson
Kristin Olson, global head of alternatives for wealth at Goldman Sachs, explains how her team is preparing for more than 30% yearly growth in the individual investor space.
Oct 28, 2025•20 min•Ep. 131
Bending the Revenue Curve w/ Permira’s Dipan Patel
Permira’s Co-CEO reveals how a sector-embedded, operator-led value creation team drives revenue growth across their portfolio.
Oct 14, 2025•15 min•Ep. 130
Scaling Across the Pond w/ Permira’s Dipan Patel
Permira’s Co-CEO explains how his firm has successfully scaled across Europe and the U.S. in equal measure.
Sep 30, 2025•19 min•Ep. 129
Competitive Advantages and Carve-Outs w/ TPG’s Steve Ellis
In part two of our interview series, we explore how the impact lens can enhance carve-outs — from deal sourcing to execution.
Sep 16, 2025•15 min•Ep. 128
When Impact Investing Reaches Critical Mass w/ TPG’s Steve Ellis
A pioneer in the realm of impact investing explains how The Rise Funds have scaled over the last decade—and why they're hitting “escape velocity.”
Sep 02, 2025•18 min•Ep. 127
Private Equity’s Liquidity Wake-Up Call
On June 23, I joined the Capital Allocators podcast to discuss some of the pressing challenges facing the private equity industry today, with a particular focus on the ongoing liquidity crisis. This is an unprecedented and, I would argue, an underappreciated problem for the industry. We should be talking about it more, and that’s why we’re sharing this excerpt with you today. I’d like to thank the host of Capital Allocators, Ted Seides, for the opportunity to dive deeper into the data on exits a...
Aug 19, 2025•22 min
Alone on the Ice w/ Arctos' Ian Charles
[This episode originally aired on July 12, 2023] In part two of our conversation with Ian Charles, we reflect on a career of consummate innovation in the secondaries market.
Aug 05, 2025•14 min
In a League of His Own w/ Arctos' Ian Charles
[This episode originally aired on June 22, 2023] Ian Charles, the managing partner of Arctos’ Sports Partners, takes us inside the world of sports investing.
Jul 22, 2025•28 min
Is the Classic Buyout Model Still Working?
[This episode originally aired on March 1, 2021] We consider a critical question from Bain & Company's Global Private Equity Report.
Jul 08, 2025•7 min
Gen AI in Private Equity: Game Changer or Work in Progress?
On April 24, I joined the Spotlight On podcast for a conversation about the future of private equity. Naturally, we talked about the game-changing promise of generative AI, but I also sounded a note of caution. While we’ve seen remarkable enthusiasm and activity in deal sourcing operations and portfolio management, what we haven’t yet seen is the kind of deep impact that many are talking about and predicting. There’s progress along many fronts but no silver bullet in sight just yet. What you’re ...
Jun 24, 2025•13 min•Ep. 126
Bain’s 2025 Midyear Private Equity Report: Executive Summary
Amid a turbulent year, is the industry poised for more of the same or a sudden turnaround? Read Bain's 2025 Midyear Private Equity Report here . Register for Bain's Private Equity Midyear Report 2025 Webinar on July 16 here .
Jun 10, 2025•15 min•Ep. 125
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