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Private Equity Experience

Ed Barton, Rory Liebhart, and Emily Sander

24 episodes

4 days ago

Breaking news! Electronic Arts (EA) – the studio behind FIFA, Madden, and Battlefield – is being acquired in the largest-ever private equity buyout ($55B! Katie stuns at the size of the deal). In this episode, we break down: ✅ How Leverage Buyouts (LBOs) work (Rory’s $500k house analogy!) ☑️ The players: Saudi Arabia’s Public Investment Fund + Jared Kushner’s PE firm + Silver Lake ✅ EA’s $5B revenue surge, subscription model, and eSports addiction ✅ The real question: Do investors see a $55B...

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Entrepreneurship

All content for Private Equity Experience is the property of Ed Barton, Rory Liebhart, and Emily Sander and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.

Breaking news! Electronic Arts (EA) – the studio behind FIFA, Madden, and Battlefield – is being acquired in the largest-ever private equity buyout ($55B! Katie stuns at the size of the deal). In this episode, we break down: ✅ How Leverage Buyouts (LBOs) work (Rory’s $500k house analogy!) ☑️ The players: Saudi Arabia’s Public Investment Fund + Jared Kushner’s PE firm + Silver Lake ✅ EA’s $5B revenue surge, subscription model, and eSports addiction ✅ The real question: Do investors see a $55B...

Show more...

Entrepreneurship

Episodes (20/24)

Private Equity Experience

EA Sports' $55B PE Acquisition: The WORLD'S BIGGEST Gaming LBO Explained!

Breaking news! Electronic Arts (EA) – the studio behind FIFA, Madden, and Battlefield – is being acquired in the largest-ever private equity buyout ($55B! Katie stuns at the size of the deal). In this episode, we break down: ✅ How Leverage Buyouts (LBOs) work (Rory’s $500k house analogy!) ☑️ The players: Saudi Arabia’s Public Investment Fund + Jared Kushner’s PE firm + Silver Lake ✅ EA’s $5B revenue surge, subscription model, and eSports addiction ✅ The real question: Do investors see a $55B...

4 days ago

21 minutes

Private Equity Experience

Five Founder Fails: Navigating Private Equity

In this 35‑minute episode, the hosts break down the five most common pitfalls that founders face when they bring a private‑equity (PE) firm aboard. From overlooked deal structures to the emotional reality of an eventual exit, the conversation is packed with hard‑won lessons, humorous anecdotes, and actionable advice for entrepreneurs who are looking to or already in a PE partnership. “A founder’s job is to build a company. A PE partner’s job is to unlock value—so you need to know the differe...

2 weeks ago

34 minutes

Private Equity Experience

The AI Revolution in Private Equity: Diligence, Operations, & Value Creation | PE + AI

Artificial Intelligence (AI) is no longer a futuristic concept—it’s actively reshaping the landscape of Private Equity (PE) right now. In this can’t-miss episode of The Private Equity Experience, hosts Emily Sander, Ed Barton, and Rory Liebhart dive deep into how AI is creating immediate, tangible value in the PE ecosystem. The discussion kicks off with a rapid-fire round of questions about trusting AI in our personal lives, but quickly moves to how AI is transforming core business functions....

1 month ago

37 minutes

Private Equity Experience

Why Private Equity LOVES the Flash Report (And You Should Too)

In this episode, hosts Emily Sander, Ed Barton, and Rory Liebhart dive deep into one of the most powerful tools for leadership teams and private equity-backed companies: The Flash Report. What You’ll Learn: What a Flash Report is and why it’s a game-changer for leadership transparency and decision-making.How to structure a Flash Report using frameworks like Balanced Scorecard, OKRs, or EOS.Why Flash Reports improve communication with boards, investors, and internal teams.Real-world examples o...

1 month ago

55 minutes

Private Equity Experience

Is Private Equity Too Big to Fail?

Welcome to another insightful episode of The Private Equity Experience podcast! In this episode, Emily Sander, Ed Barton, and Rory Liebhart dive into the controversial question: Is private equity too big to fail? As they discuss the parallels between the banking industry's "too big to fail" concept and private equity's massive influence, they explore the implications for investors, companies, and the broader economy. Key Topics Covered: What does "too big to fail" mean for private equity?The ...

2 months ago

38 minutes

Private Equity Experience

PE's Secret Weapon? How Operating Partners Drive Returns

In this episode of the Private Equity Experience Podcast, we dive into the critical role of operating partners in private equity funding and their impact on the dilution of investment value. Hosts Emily Sander, Rory Liebhart, and Ed Barton break down how operating partners bridge the gap between PE firms and portfolio companies, offering tactical expertise, strategic oversight, and operational efficiencies. From CFOs and CTOs to turnaround specialists, discover why these professionals are a g...

2 months ago

35 minutes

Private Equity Experience

Private Equity in 401(k)s: A Risky Bet or a Game-Changer?

Description: Tune in to the Private Equity Experience Podcast as we dive into the increasingly controversial topic of private equity making its way into 401(k) retirement accounts. This episode explores the latest developments, including Senator Warren's strong concerns and the potential risks associated with adding illiquid and volatile assets to employee retirement savings. Key Takeaways: Senator Warren's Stance: We discuss Senator Warren's critical letter to Empower, highlighting concerns...

2 months ago

39 minutes

Private Equity Experience

Rollin' Up Value: The Strategy & Risks of Private Equity Rollup Mergers

Overview: In this episode of The Private Equity Experience, Emily, Rory, and Ed dive into the world of rollup mergers in private equity. Rollup mergers involve acquiring and consolidating multiple smaller companies in the same industry to create a larger, more efficient entity. The hosts discuss the intricacies, challenges, and potential pitfalls of this strategy, providing insights into how private equity firms can navigate these complex transactions successfully. Key Discussions: Und...

3 months ago

38 minutes

Private Equity Experience

Leveraged Buyouts Uncovered: Private Equity’s High-Stakes Game

In Episode 15, hosts Emily Sanders and Rory Liebhart delve into the world of Leveraged Buyouts (LBOs), examining how private equity firms and other entities utilize substantial debt to acquire companies. Joined by expert Edward Barton, the conversation examines the mechanics of an LBO, its benefits and substantial risks, including cash flow pressure and covenant breaches. The episode also addresses why the current private equity market is experiencing a "log jam" due to factors like high valu...

3 months ago

37 minutes

Private Equity Experience

The Dilution Dilemma: Navigating the World of Equity Funding

Introduction to Equity Dilution and Its Impact on Investors Equity Dilution Definition: Occurs when a company issues new shares to raise capital, leading to a decrease in the ownership percentage of existing shareholders. Founder's Perspective: Founders often face the decision of whether to retain complete control over their company or raise capital by accepting dilution, which can significantly impact their future earnings and control. Key Stakeholders: Includes founders, employees, and i...

4 months ago

31 minutes

Private Equity Experience

Raising Capital 101: Insights from Seasoned PE Pros

Description: In this episode, we explore the various types of funding rounds that a startup or business can undergo, ranging from angel investing to private equity buyouts. Our guests, Emily Sander and Rory Liebhart, are joined by Ed Barton, who shares his expertise on the private equity side. Key Takeaways: Angel investing: This refers to the initial round of funding, typically provided by high-net-worth individuals or family offices. It's a high-risk, high-reward investment, and the invest...

4 months ago

44 minutes

Private Equity Experience

Private Equity vs. Private Credit: Demystifying the Capital Stack, Risk, and Returns

In this episode, we dive into the world of private credit and its relationship with private equity. Our hosts, Rory, Emily and Ed, share their expertise on the differences and similarities between these two asset classes. Key Takeaways: Private credit refers to debt financing that is not publicly traded and is typically provided by private companies or investors. Private credit is not a new phenomenon, but its terminology has become more prominent in recent years as a separation from tradit...

5 months ago

34 minutes

Private Equity Experience

Tariffs, Trapped Equity, and the PE Tightrope: Navigating Uncertain Markets

Summary: In this episode, the hosts discuss the current economic environment, tariffs, and their impact on private equity. They also explore the concept of "trapped equity" and how it affects private equity firms. The conversation touches on the uncertainty created by tariffs, the risk premium required, and how it changes the dynamics of buying and selling assets. Key Takeaways: Tariffs create uncertainty: Tariffs lead to uncertainty, which can result in inaction and trepidation among invest...

5 months ago

37 minutes

Private Equity Experience

The PE Leadership Gambit: What Happens to the C-Suite After Acquisition?

What happens to leadership teams when private equity enters the picture? In this revealing episode of The Private Equity Experience, Emily Sander, Rory Liebhart, and Ed Barton discuss the dramatic shifts that occur when PE firms acquire companies. Drawing from their battle-scarred experiences, they explore how founders navigate new stakeholder relationships, why CFOs often become CEOs, and the critical importance of meeting financial covenants. Learn why "business as usual" isn't an option, w...

8 months ago

32 minutes

Private Equity Experience

Cracking the Code on Private Equity Valuations: Understanding the Art and Science of M&A Deals

This episode of The Private Equity Experience dives deep into the crucial and often dramatic world of business valuation in private equity deals. Hosts Emily Sander, Rory Liebhart, and Ed Barton explore the complexities, emotions, and strategic considerations determining a company's worth during the "buy phase." They discuss key valuation methodologies (revenue multiples and EBITDA multiples), the importance of revenue recognition, and how "corporate hygiene" (organized and accurate fin...

8 months ago

29 minutes

Private Equity Experience

Understanding the Private Equity Ecosystem: VC, Series Funding, and PE Firms

In this informative episode of the Private Equity Experience podcast, hosts Emily Sander, Rory Liebhart, and Ed Barton break down the complex world of private equity, venture capital, and series funding. Learn the differences between VC and PE firms and how to navigate the ecosystem to secure funding for your startup. Discover the importance of assembling a strong team of advisors and resources, including investment banks, financial advisors, and startup accelerators like Y Combinator and Sta...

9 months ago

33 minutes

Private Equity Experience

Is Incorporating In Delaware Still A Good Idea?

Description: Delaware has been the go-to state for incorporating businesses due to its business-friendly environment, strong case law, and lack of business taxes.The recent court case involving Elon Musk's compensation package has raised questions about Delaware's predictability and has prompted some companies to consider alternative states like Texas, Wyoming, and Nevada.While Delaware will likely remain a popular choice for incorporation, especially for larger companies, the changing landsc...

9 months ago

33 minutes

Private Equity Experience

Due Diligence: The Key to Unlocking Your Company's Value

In this episode of the Private Equity Experience podcast, Ed and Rory dive into due diligence, a crucial step in buying or selling a business. They explain what due diligence is, how it works, and why it's essential for determining a company's valuation. The hosts also discuss the importance of working with experienced professionals, such as investment banks and financial advisors, to navigate the due diligence process and ensure a successful transaction. Learn the importance of due diligence...

9 months ago

36 minutes

Private Equity Experience

The Ultimate Private Equity Buy Phase Guide: Preparation is Key

The Private Equity Experience podcast discusses the buy phase of private equity, focusing on the preparation required for business owners to sell their companies. The hosts, Ed Barton, Emily Sander, and Rory Liebhart, emphasize the importance of assessing one's personal and business situation, identifying motivations for selling, and assembling a team of experts, including investment banks and wealth advisors. They also stress the need for corporate hygiene, including getting financial record...

10 months ago

37 minutes

Private Equity Experience

Selling Your Business to Private Equity: The Crucial Steps Before Selling Your Business

In this episode of PEX, the hosts explore the private equity selling process, comparing it to a dating game to illustrate the stages from initial teasers to detailed due diligence. They cover critical concepts like Confidential Information Memorandums (CIMs), virtual data rooms, and essential legal mechanisms such as drag and tag rights. Additionally, the discussion highlights the challenges founders face when adapting to new roles post-sale and offers practical insights into managing these t...

10 months ago

33 minutes