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Most operating partners fail because the firm set them up to fail.
Carlyle is a useful reminder that most private equity firms are still private equity firms.
Partners Group just built a product for the exit market nobody trusts.
KKR’s insurance strategy looks boring on purpose.
What happens to private equity in a "Carry Winter"?
Apollo is no longer just an alternative asset manager.
Private equity does not have a zombie fund problem. It has a hostage fund problem.
Blackstone’s best private equity deal may have been escaping private equity.
The board story on revenue is usually fiction with formatting.
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.
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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News (2/19/26)
McKinsey Declares “The Fog Has Lifted” on Private Equity McKinsey’s 2026 Global Private Markets Report says the fog has finally lifted, with buyouts up, exits rebounding, and IPOs creeping back after three flat years. That may be true, but the backlog of PE-owned companies is at record highs and
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News (w/e 2/13/26)
Garden City Equity Raises $255 Million Without Institutional LPs Garden City Equity raised $255 million from operators, athletes, and entertainers and skipped institutional LPs entirely. That is either genius long-duration capital with zero pacing pressure or a reminder that everyone now wants to cosplay as Berkshire Hathaway without the 40-year
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News (w/e 2/6/26)
Carlyle Reports Fourth-Quarter Profit Up as PE Dealmaking Strengthens The Carlyle Group posted a 13.7% rise in fourth-quarter distributable earnings, beating expectations with $436 million in profit as its private-equity deal activity, credit platform, and secondaries business generated strong results. The firm also raised roughly $53.7 billion in
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News (w/e/ 01/30/26)
Blackstone Reports Record Private Equity, Credit, and Real Estate Inflows in 2025 Blackstone disclosed its largest ever private market fundraising year, with more than $240 billion raised in 2025 and assets under management climbing to about $1.3 trillion. Despite strong underlying performance in private equity, private credit, and real
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News (w/e 01/23/26)
NGP Energy Capital Plans Bigger Investment Push After Restructuring With Carlyle NGP Energy Capital Management told LPs it plans to accelerate new investments after returning $2.58 billion last year and restructuring its long-standing partnership with Carlyle Group. Under the reset, NGP will keep a larger share of fees and
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News (w/e 1/16/26)
Private Equity Recruiting Machine Roars Back After Six-Month Pause U.S. private equity on-cycle recruiting restarted after a long pause, with megafunds back to running compressed interview processes for future associate classes. The break didn’t cool demand, it just produced more seasoned candidates and reinforced how competitive and unforgiving
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News (w/e 1/9/26)
Eir Partners Closes $1 Billion Fund Focused on Healthcare Technology Miami-based Eir Partners closed its third fund at $1 billion, blowing past its $800 million target in just a few months. The raise reinforces a clear LP preference: specialist healthcare investors with repeatable playbooks still get paid attention, even as
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News (w/e 12/19/25)
Law Firms and PE Eyes Converge on MSO Model, Carving Out Back-Office Capital Private equity and litigation funders are circling U.S. law firms’ MSO (management services organization) structures as a new frontier for capital deployment. Under the MSO model, firms carve out non-legal operations (back-office, tech, billing) into investable
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News (w/e 12/5/25)
U.S. PE Exits Finally Show Real Momentum Again PitchBook data shows U.S. private equity exits are on track for a second straight year of recovery, with ~1,300 exits through October generating $621.7B. After two years of gridlock, this is the first real sign that LP liquidity
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News (w/e 11/28/25)
PE’s Push Into U.S. 401(k)s Draws a Hard Warning From Olympus Partners The founder of Olympus Partners is sounding alarms over private equity’s accelerating push into U.S. 401(k) retirement plans. His argument is blunt: high fees, long lockups, and opaque performance don’t
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News (11/21/25)
U.S. Equity Funds Pull In $4.36 Billion as Investors Chase Earnings Pop U.S. equity funds logged $4.36 billion in net inflows this week, marking a fifth straight week of investors rediscovering their love for public markets. Strong earnings dragged capital out of the sidelines and back
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News (w/e 11/14/25)
Carlyle Circles Lukoil’s Foreign Assets as Sanctions Fatigue Sets In Carlyle is sniffing around Lukoil’s non-Russian assets, a sprawl of energy holdings valued around $22 billion, according to Reuters. It’s the kind of geopolitical scavenger hunt only a top-tier PE shop attempts — buying orphaned assets from a