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NVPE Editorial
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KKR’s insurance strategy looks boring on purpose.
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What happens to private equity in a "Carry Winter"?
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Apollo is no longer just an alternative asset manager.
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Private equity does not have a zombie fund problem. It has a hostage fund problem.
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Blackstone’s best private equity deal may have been escaping private equity.
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The board story on revenue is usually fiction with formatting.
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The Five Operating Philosophies of Private Equity: A 2026 Taxonomy
Private equity is not one operating philosophy but several. A neutral field guide to the five you will actually encounter, what each believes, who runs it, and when it works.
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What Is an EBITDA Bridge in Private Equity? Definition, Example, and Why It Decides the Deal
An EBITDA bridge is a waterfall analysis that explains the change in a company's EBITDA from one point in time to another by breaking the total movement into its component drivers: organic volume, pricing, cost inflation, acquisitions, one-time items, and operational initiatives. In private equity, the EBITDA
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Operating Partner vs Fractional Executive Firm: How PE-Backed Companies Choose Between Embedded and On-Demand Leadership
Operating partners embed inside a single leadership team. Fractional executive firms deploy a roster across many. Here is when each one wins.
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What is a Value Creation Plan in Private Equity? An Operator's Definition (2026)
What a Value Creation Plan is in private equity, the six lever categories, who builds and owns it, how it maps to the EBITDA bridge, and why most VCPs fail.
GPs think NAV deals die in credit committee. They die at the LPAC.
Most managers brace for the credit conversation and underprepare for the one that actually decides the outcome. Here is what tends to go wrong when GPs approach a NAV facility, seen from the side of the table that has to underwrite it, and what a sound deal should look like