Insights
What we see from inside the P&L.
Notes from operating mandates and portfolio work. Written by the people doing the work, for PE partners and executives with 45 seconds — and for the ones who want the detail underneath.
The Operating Partner Role Is Changing. Slow Exits Changed It.
Extended holds moved returns into the commercial P&L. The operating-partner role has to move with them.
Pricing Is Set. Margin Leaks Anyway.
Most portfolio companies do not have a pricing problem. They have a pricing realization problem — and it hides downstream of the price list.
The Quote Is the Bottleneck
In multi-site services businesses, the quote is where growth and margin are actually decided. Most platforms treat it as clerical work.
Working Capital Is the Cheapest Money in the Portfolio
Transformation plans die asking for capital. The cash to fund them is usually already inside the business.