
Free Daily Podcast Summary
by ParkerGale Capital
Your favorite GP's favorite podcast. Occasionally insightful, always entertaining. Deep dives into how private equity works, what happens after the deal closes, how money gets raised, and how companies get bought and sold. And everything in between with healthy doses of pop culture and humor. Straight from the team at ParkerGale Capital.For educational and entertainment purposes only. Not investment advice. Additional disclosures at www.parkergale.com.
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She had the question 10 minutes before the executive did. She stayed quiet—and spent the next 20 minutes kicking herself. Caroline Phipps, VP at ParkerGale, joins Cass to share the lessons she's learned on her path from D1 soccer to investment banking to private equity. Topics include why she waited over a year before responding to a single PE recruiter, what a professor taught her about integrity and cold emails, how she's using AI tools to audit her own work, and why she thinks the PE-operator relationship gets a bad rap. Plus: The Office rewatches, a decade-old smoothie recipe, and the career she'd choose if she left finance (optometrist, zero qualifications).
Default rates are under 1%. Yet about 1 in 9 leveraged loans trades below 90 cents on the dollar. Both are true. Devin sits down with Kenny Tang, head of U.S. credit research at PitchBook, to explain why. They cover everything from a glossary of terms (BSL, BDC, PIK, cov-lite, LME) to what actually cracked in 2026 after the AI software scare. Plus, why defaults look low when stress is high, what credit LPs should watch, and whether today's lenders know how to run a workout. Kenny Tang is a former bank workout and S&P recovery ratings guy who's sat on every side of the table. Check out all of PitchBook's research at pitchbook.com.
She was an English major who took a banking job in Seattle sight unseen, and eventually became an investor on PSG's healthcare team, focused on growth-stage software companies. Cass sits down with Booth classmate Kate Nimmo to talk about what growth equity really is, why a liberal arts degree turned out to be a secret weapon, and the lesson she wishes she'd learned sooner: you don't need every answer on day one. Plus: Grey's Anatomy, toddler negotiations, and a TV pilot written during nap time.
In a corporate carve-out, figuring out what exactly you're buying is the hardest part. It's often a line-by-line exercise, requiring a scalpel to separate what stays and what goes. ParkerGale's Ryan Milligan sits down with his colleague Kevin "KG" Gorman for Corporate Carve-Outs 101: how private equity buys a business unit out of a larger parent, why sellers let those businesses go, how you price something that isn't standing on its own, and why carve-outs take longer than you think. KG has closed two carve-outs in the last couple of years, including Comperemedia from Mintel, and our carve-out of HiBid, along with a complex one from his investment banking days. They also cover what changed when AI showed up in the deal process, for better and for worse. This episode is sponsored by NetSuite Next. Try it free at netsuite.ai/funcast.
Her college career office was supposed to forward her resume to a foundation. Instead, Ariel Investments kept it, and she ended up working next to the founder. Liz sits down with Lena Diasti, Chief of Staff to John Rogers, founder, chairman and co-CEO of Ariel Investments. We get into what a Chief of Staff actually does, how to leave investment banking before the "two years" are up, and why relationships end up mattering more than Excel spreadsheets. Plus, a Gilmore Girls hot take and the trick for perfectly smooth hummus.
In 1982, Bill Atkinson made Apple's Lisa faster by deleting 2,000 lines of code, and the management form asked how many he wrote. Forty-four years later we're counting tokens instead. Same bug. The good news: with agentic workflows, engineering is finally measurable in terms a board understands. Jim sits down with Kirby Montgomery and Dan Bender of Code & Co. to cover what's worth tracking (speed paired with stability, and outcomes over activity), why tech diligence now starts before the LOI, why the slick data-room dashboard is sometimes running on localhost, and why you can game the capture but not the context. Measure to learn, not to punish. Website: https://www.codeandco.com/LinkedIn: https://www.linkedin.com/company/codeandcogroup/
What does it really take to build trust in private equity over a five-to-seven-year hold? Cass sits down with her colleague Nori Welles-Gertz, a principal at Parker Gale, to find out. They talk about why PE is more about relationships and reputation than transactions, and how she moved from consulting into operationally focused lower middle market investing. They also discuss how her college crew experience prepared her for a fast-paced career, what she's learning from AI experimentation and a few personal favorites: "Arrested Development," gluten-free pancakes, and perfect weekends built around lots of outdoor activities.
Investment diligence is all about answering two questions: Do we want to own this business? And what would we do with it if we did? But then the deal closes, and all those problems you identified and opportunities you imagined during diligence become yours to tackle. So where do you even start? In this episode, Ryan and Paul compare notes on what actually happens in the first year of owning a business: how they get the ball rolling on value creation, which early initiatives tend to make the biggest difference, and how they team up with their portfolio companies to tackle the inevitable year 1 curve balls. This episode is sponsored by NetSuite Next. Try it free at netsuite.ai/funcast.
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Your favorite GP's favorite podcast. Occasionally insightful, always entertaining. Deep dives into how private equity works, what happens after the deal closes, how money gets raised, and how companies get bought and sold. And everything in between with healthy doses of pop culture and humor. Straight from the team at ParkerGale Capital.For educational and entertainment purposes only. Not investment advice. Additional disclosures at www.parkergale.com.
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