Knowledge Base
Tax strategy, healthcare before Medicare, the post-FIRE identity shift, and the financial decisions that get more complicated after you stop earning.
1054 articles — page 53 of 88
The private equity distribution waterfall is the contractual mechanism that determines who gets paid, how much, and when, as capital flows out of a fund. Get the waterfall terms wrong when committing capital, and you can watch a fund post strong gross returns while your net IRR disappoints. Every LP
Private equity firms filing with the SEC most commonly use SIC code 6726 (Investment Offices, Not Elsewhere Classified). You will see this on Form D exempt offering filings, which PE funds submit when raising capital under Regulation D. NAICS 523910 is the modern equivalent. If you are evaluating an
If you're committing capital to a private equity fund, KYC requirements for private equity funds are not the fund manager's problem. They're yours. You will be asked to produce documentation, explain your wealth history, and in some cases wait weeks before your commitment is formally accepted. Under
Aerospace and defense private equity sits in a category most generalist PE investors never touch. The regulatory barriers are real, the government contract structures are unlike anything in commercial markets, and the minimum LP commitments at leading funds start at $5 million. For investors who qua
Roark Capital is a Atlanta-based private equity firm managing roughly $60 billion in assets across consumer brands and franchise businesses. Founded in 2001 by Neal Aronson, a former executive at U.S. Franchise Systems, the firm has built one of the most concentrated and deliberate franchise-focused
A private equity audit is an independent examination of a fund's financial statements, valuation methodologies, fee calculations, and compliance practices, conducted by a PCAOB-registered accounting firm. For LPs committing $1M to $5M+ to a single fund, the audit report is one of the few independent
Private equity primaries are first-round capital commitments made directly into a private equity fund during its fundraising period, or directly into a private company before any secondary market exists for that stake. You are buying in at inception, accepting full illiquidity from day one, and bear
Private equity league tables rank firms by capital raised, deal volume, or fund returns, but those three metrics rarely agree on who the best managers are. For a qualified purchaser committing $500K to $2M into PE as part of a $5M+ portfolio, understanding what a league table is actually measuring,
Home services private equity has moved from niche curiosity to a core allocation thesis for sophisticated buyout funds. The residential services sector generates roughly $600 billion annually in the U.S., according to IBISWorld, and remains structurally fragmented: thousands of owner-operated HVAC,
American Securities is a New York-based middle-market buyout firm founded in 1994, managing approximately $22 billion in assets across multiple fund vintages. The firm targets companies with annual revenues between $200 million and $2 billion, concentrating on businesses with defensible market posit
The private equity CEO salary conversation starts in the wrong place when it focuses on base pay. A founding CEO at a top-10 buyout firm might draw a $1 million base salary. That number is largely irrelevant. The real wealth engine is carried interest, and at scale, a single fund cycle can generate
Clearlake Capital Group is a Santa Monica-based private equity firm founded in 2006 by José E. Feliciano and Behdad Eghbali. It manages over $90 billion in assets across buyout and credit strategies, concentrating on technology, software, industrials, and consumer sectors. For FATFIRE-level investor