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If I were building a sourcing engine in 2026, I would start with data.
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The team that sold the dream should not mark the homework.
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The Operator Supply Gap: Private Equity Bought the Operations Thesis. It Hasn't Hired the Operators to Deliver It.
Every private equity deck in 2026 says the same thing. Returns will come from operations, not leverage. The financial-engineering era is over, the operating era has begun, and the numbers now back the slogan: in S&P Global Market Intelligence's 2026 Private Equity Survey, 71% of
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The Continuation Test: Five Operating Questions Before You Roll an Asset Into a Continuation Fund
We treat a continuation fund as what it is: a tool, not a verdict. The same vehicle that lets a genuinely strong company keep compounding under an owner who understands it can also let a tired one dodge the markdown it has already earned. Nothing in the structure tells you
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Publicis bought data and engineering when everyone else was still polishing Cannes entries.
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Publicis has done something painfully rare in agency land.
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WPP is the world’s most expensive lesson in why agency roll-ups eventually turn into archaeology.
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Big agencies are not having a bad year.
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Bending Spoons might be the most private equity company in tech.
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Private equity isn’t evil. It just has the terribly unfashionable habit of needing to make money.
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