Knowledge Base
Tax strategy, healthcare before Medicare, the post-FIRE identity shift, and the financial decisions that get more complicated after you stop earning.
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LMM private equity targets companies with $10M to $100M in annual revenue and $2M to $15M in EBITDA. That puts them well above a lifestyle business but well below the radar of the Blackstones and KKRs of the world. The distinction matters because the competitive dynamics, return drivers, and operati
Yellow Wood Private Equity is a Boston-based middle-market buyout firm founded in 2011 with a single sector focus: consumer brands. The firm acquires companies with established brand equity, loyal customer bases, and products that address genuine consumer needs, then applies operational improvements
Private equity financial statements are the primary tool LPs have for evaluating whether a GP is generating real returns or just collecting fees. Understanding how to read them, what the key metrics mean, and where the numbers can mislead you is not optional at the allocation sizes most FatFIRE inve
IRR in private equity is the discount rate that sets the net present value of all fund cash flows to zero. It accounts for both the magnitude and timing of every capital call and distribution, expressing total performance as a single annualized rate. That time-sensitivity is what makes it the indust
Maritime investment banking covers the full spectrum of capital markets activity for the global shipping and port infrastructure industry. Seaborne trade accounts for over 80% of global merchandise trade by volume, according to UNCTAD's 2023 Review of Maritime Transport. The financial machinery behi
Private equity underwriting is the analytical process by which a fund evaluates, prices, and structures an investment before committing capital. If you are sitting on the LP side of that table, understanding how that process works is not academic. It directly determines whether the fund you backed w
The preferred return in private equity is the minimum annualized return LPs must receive before the GP collects any carried interest. Think of it as the price of admission for performance compensation: the GP earns nothing above their management fee until investors clear this threshold. Most buyout
If you own a business worth $10M or more and you're considering a sale, the investment banking pitch deck is not the banker's problem. It's yours. The quality of that document, and the process built around it, directly determines how many buyers show up, how aggressively they bid, and what multiple
For a $5M+ portfolio, the standard retail guidance on emerging markets allocation, "somewhere between 5% and 25%", is nearly useless. At this level, a 15% allocation isn't a modest diversification tilt. It's $750,000 or more sitting in an asset class that has historically posted annualized drawdow
Add-on acquisitions are the engine behind most of what PE firms actually do today. A platform company, typically acquired at a premium multiple, serves as the foundation. The firm then bolts on smaller businesses at lower multiples, consolidating them into the platform and exiting the combined entit
HVAC private equity has become one of the more crowded trades in the industrials space, and for defensible reasons. According to IBISWorld, the U.S. HVAC industry generates over $100 billion in annual revenue, with demand anchored by residential construction, commercial retrofits, and a federally ma
New York hosts the highest concentration of private equity capital anywhere in the world. Blackstone, KKR, Apollo, and Carlyle's New York operations collectively manage trillions in assets, but the city's PE ecosystem runs far deeper than those four names. Understanding who the real players are, and