Dry Powder: The Private Equity Podcast

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Hugh MacArthur, head of Bain & Company's Global Private Equity practice, interviews leading experts on the trends and opportunities that will redefine the private equity industry.

Hugh MacArthur, Bain & Company


    • May 27, 2025 LATEST EPISODE
    • every other week NEW EPISODES
    • 15m AVG DURATION
    • 130 EPISODES

    Ivy Insights

    The Dry Powder: The Private Equity Podcast is a highly informative and insightful podcast that covers a wide range of topics related to private equity investments. In just 7 minutes, this podcast provides listeners with valuable insights and practical advice from industry practitioners. As someone in the field, I find this podcast extremely valuable and look forward to future episodes that delve deeper into the 5 pillars highlighted in the value creation journey path.

    One of the best aspects of The Dry Powder: The Private Equity Podcast is its coverage of innovative tools, data sources, and advanced analytics tools. This podcast goes beyond the traditional approach taken by many funds and explores how these new technologies can be applied to investment processes. This not only gives listeners a new perspective on diligence techniques but also provides actionable information that can help them gain a competitive edge during the purchase process. It's impressive to see how easily accessible these tools are and how they can enhance decision-making in private equity investments.

    On the other hand, some listeners might feel that this podcast focuses too much on digital approaches and neglects other important aspects of private equity investments. While it's great to learn about these innovative tools and data sources, it would be beneficial to have a more balanced view that also includes traditional strategies and considerations. Additionally, although this podcast provides a crash course on private equity investments, it would benefit from more in-depth discussions and case studies to further enhance listeners' understanding of the subject matter.

    In conclusion, The Dry Powder: The Private Equity Podcast is an excellent resource for anyone interested in private equity investments. It offers valuable insights into various aspects of the field and presents innovative approaches that can give investors an edge over their competitors. While it could benefit from greater balance in its coverage and more detailed discussions, this podcast serves as a great starting point for those looking to deepen their understanding of private equity investments. Overall, it's clear that Bain has done a great job with this content-rich podcast.



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    Latest episodes from Dry Powder: The Private Equity Podcast

    A $140 Trillion Riddle, Wrapped in a Mystery, Inside of an Enigma

    Play Episode Listen Later May 27, 2025 18:50


    [This episode originally aired on December 7, 2023] Today on the show, I have a lively conversation with Ashby Monk, the executive director of the Stanford Research Initiative on Long Term Investing. Ashby studies the inner workings of pension funds, sovereign wealth funds, endowments and foundations —  in short all of those LPs that sit somewhere in between the public and private sectors.“That means that they are optimizing for things that are not entirely evident to just the casual observer,” Ashby says.In this episode of Dry Powder, I ask Ashby to take us inside the $140 trillion universe of long-term investing and help us understand what exactly these organizations are optimizing for.If you'd like to stay up to date with my weekly series on LinkedIn, follow me here.

    Navigating the Evolution of Private Equity: An Interview with Hugh MacArthur

    Play Episode Listen Later May 13, 2025 25:11


    This past December, I joined the M&A Science Podcast for a wide ranging interview about my 30 year career at Bain and the evolution of the private equity industry.  My host did a superb job of walking us through the pivotal moments when the industry was forced to reinvent itself.  In this current moment of uncertainty, the interview serves as a timely reminder of how quickly the industry can change — and is often forced to. What you're about to hear are a few excerpts from that interview, lightly edited for brevity and clarity.I'd like to thank my host, Kison Patel, for the opportunity to share this timely conversation with our audience, and if you'd like to listen to the full interview, you can visit the M&A Science Podcast here.

    The Rise and Rise of the Secondary Market w/ Lexington Partners' Wilson Warren

    Play Episode Listen Later Apr 29, 2025 26:07


    A 30-year veteran shares why the secondary market's growth continues to surprise him.

    NAV Loans Under the Microscope w/ 17Capital's Pierre-Antoine de Selancy

    Play Episode Listen Later Apr 15, 2025 21:08


    We ask a leading provider of NAV loans about the enthusiasm and the skepticism around a growing trend.

    Full Speed Ahead w/ Hamilton Lane's Erik Hirsch

    Play Episode Listen Later Apr 8, 2025 19:28


    In the second of our two-part series, we ask the Co-CEO of Hamilton Lane how they're  building an analytics engine that can serve both institutional and individual investors. 

    Warp Speed w/ Hamilton Lane's Erik Hirsch

    Play Episode Listen Later Apr 1, 2025 18:01


    Hamilton Lane's Co-CEO takes us inside the rapid buildout of private market infrastructure.

    Where Infrastructure Deals Are Heading

    Play Episode Listen Later Mar 25, 2025 12:27


    In part two of our infrastructure series, we take a closer look at which sub-sectors are heating up, and how opportunities across energy and tech are converging.

    Infrastructure's New Playbook

    Play Episode Listen Later Mar 18, 2025 18:04


    Infrastructure deals are evolving, and private capital could play a pivotal role in the space.

    Dry Powder: Live From NEXUS 2025

    Play Episode Listen Later Mar 12, 2025 25:27


    Today on Dry Powder, we're sharing a live recording from this year's NEXUS conference in Orlando, Florida. My guest is Brian Bernasek, Co-Head of Americas Corporate Private Equity at Carlyle. We had a wide-ranging discussion about his market outlook for 2025, how he thinks about sector expertise at scale, the rising cost of alpha, and, of course, AI. Our conversation touches on many of the key themes in Bain's Global Private Equity Report, which we've linked to below, but Brian is one of those rare investors who can actually bring these themes to life. Read Bain's 2025 Global Private Equity Report, here.

    Bain & Company's 2025 Global Private Equity Report: Executive Summary

    Play Episode Listen Later Mar 3, 2025 19:25


    We cover three overarching themes from this year's report, including clear evidence of an industry recovery, continuing challenges for GP's, and strategies for winning the future.Register for our Global Private Equity Report 2025 Webinar on March 13, here.Read the full 2025 Global Private Equity Report, here. 

    From Startups to Scale-Ups w/ Insight Partners' Deven Parekh

    Play Episode Listen Later Feb 25, 2025 19:06


    We asked the managing director of Insight Partners how they invest across venture capital, growth equities and buyouts.Register for our Global Private Equity Report 2025 Webinar on March 13, here.

    Profile of an Industry Innovator w/ TPG's Jim Coulter

    Play Episode Listen Later Feb 11, 2025 24:33


    Jim Coulter reflects on the legacy of his co-founder, David Bonderman, while asking whether the industry still makes room for unorthodox investors like him today.

    The Leaders Strategy w/ GTCR's Collin Roche

    Play Episode Listen Later Jan 30, 2025 20:51


    In an industry where management change out rates hover around 50%, GTCR stands out as a remarkable exception.

    Macro Update: The Expanding Frontiers of Automation

    Play Episode Listen Later Jan 14, 2025 16:34


    From strawberry-picking to brick-laying, automation is revolutionizing unexpected corners of the workforce.

    Macro Update: Navigating Inflation and Policy Shifts Under a New Administration

    Play Episode Listen Later Jan 7, 2025 23:53


    With inflation easing and public markets on the rise, the key questions are whether the Federal Reserve has overcorrected and how the new administration will impact the path to recovery.

    Tech Sector Update: Waiting for a Recovery

    Play Episode Listen Later Dec 17, 2024 18:05


    A few big ticket deals have raised hopes of a rebound, but investors are still wondering when deal activity will return to normal, or what normative will even look like in the coming year.

    Game Changers in Generative AI w/ Hg's David Toms

    Play Episode Listen Later Dec 10, 2024 13:36


    In part two of our interview series, we explore how generative AI is prompting a radical reconsideration of how software is priced and deployed at scale.

    Early Wins In Generative AI w/ Hg's David Toms

    Play Episode Listen Later Dec 3, 2024 22:34


    Hg's head of research shares some of the more remarkable use cases of generative AI and what they reveal about the future of work.

    Where Tech Meets Patient Care

    Play Episode Listen Later Nov 5, 2024 26:32


    Healthcare IT has the potential to not only make the industry more efficient but also to revolutionize patient care.

    Adapting to a Multipolar World w/ Bain Capital's David Gross

    Play Episode Listen Later Oct 22, 2024 17:04


    In part two of our interview series, we explore how private equity can continue expanding its global footprint and what it will take to thrive in a multipolar world.

    The Cross-Platform Playbook w/ Bain Capital's David Gross

    Play Episode Listen Later Oct 15, 2024 16:55


    The co-managing partner of Bain Capital takes us inside of their remarkably diversified portfolio, where venture capital, private equity, real estate, and credit don't just coexist—they actively reinforce each other.If you'd like to stay up to date with my weekly series of posts on LinkedIn, you can follow me here.

    A Deep Dive into Private Equity's Future

    Play Episode Listen Later Sep 26, 2024 21:31


    Host Hugh MacArthur takes the hot seat in this special episode about the future of private equity.You can access the original, full-length interview here. If you'd like to stay up to date with Hugh's weekly posts on LinkedIn, follow him here.

    The Case for ‘Guarded Optimism' in the Healthcare Sector

    Play Episode Listen Later Aug 29, 2024 23:33


    2024 is shaping up to be a surprisingly robust year for private equity deal activity.

    Buy-and-Build: Deal Breakers and Deal Makers

    Play Episode Listen Later Aug 22, 2024 19:22


    [This series originally aired on November 21, 2019] Absent certain market conditions, buyer beware.

    The Renewed Urgency of Operational Due Diligence

    Play Episode Listen Later Aug 15, 2024 14:55


    [This episode originally aired on March 21, 2023] As margins shrink, private equity houses are rediscovering the vital importance of operational due diligence.

    The Take-Private Playbook

    Play Episode Listen Later Jul 30, 2024 13:42


    A small, but growing cohort of investors are taking mid-sized  companies private and driving substantial margin improvements.

    Bain's 2024 Midyear Private Equity Report: Executive Summary

    Play Episode Listen Later Jun 28, 2024 22:24


    Deals and exits are flat, and fundraising is down, but the real story is the tension beneath the numbers.For a deeper discussion, join our live webinar on July 9. Read Bain's 2024 Midyear Private Equity Report, here.   

    A Savvier Approach to Sovereign Wealth Funds

    Play Episode Listen Later Jun 18, 2024 16:30


    Karen Khalaf, one of Bain's leading experts in sovereign wealth funds, explains how a little knowledge can go a long way on the fundraising trail.

    Dry Powder: Live from SuperReturn 2024

    Play Episode Listen Later Jun 6, 2024 29:59


    Jim Strang, chairman of HgCapital Trust, joins us for a wide-ranging conversation about the future of the private equity industry.If you'd like to stay up to date with my weekly series on LinkedIn, follow me here.

    Rethinking Risk w/ Charlesbank's Michael Choe

    Play Episode Listen Later May 21, 2024 21:45


    We explore a fresh approach to modeling and managing risk.

    Exit Strategies w/ Thoma Bravo's Holden Spaht

    Play Episode Listen Later May 7, 2024 11:57


    In part two of our series, Thoma Bravo's leading enterprise software investor explains how they continue to find exit opportunities and source new deals.

    When the Dam Breaks on Tech Deals w/ Thoma Bravo's Holden Spaht

    Play Episode Listen Later Apr 30, 2024 22:31


    We ask one of Thoma Bravo's leading enterprise software investors why 2023 could be a “significantly better” year for deal making.

    Data-Driven Impact Investing w/ Bridgespan's William Foster

    Play Episode Listen Later Apr 22, 2024 17:15


    Private equity firms are developing measures of success that go far beyond carbon footprints.

    Macro Update: Calm, but Not Stable

    Play Episode Listen Later Apr 4, 2024 20:14


    We ask Bain's leading macro expert about the “last mile” of rate cuts in the US, and whether Europe has miles to go.

    Bain & Company's 2024 Global Private Equity Report: Executive Summary

    Play Episode Listen Later Mar 11, 2024 19:28


    We seem to have entered a period of eerie calm, but will it last?Read Bain & Company's 2024 Global Private Equity Report here.Join my live webinar on March 19th here. 

    The Key to Persistent Performance w/ TPG's Jim Coulter

    Play Episode Listen Later Feb 22, 2024 20:30


    In part two of our interview, we explore the principles and strategies that enable the industry's top-performing GP's to deliver persistent returns.

    Breaking the Tablets w/ TPG's Jim Coulter

    Play Episode Listen Later Feb 15, 2024 28:06


    A pioneering investor talks to us about challenging the industry's conventions.

    The Evolution of the Secondaries Market: From Crisis to Opportunity

    Play Episode Listen Later Jan 23, 2024 17:24


    Tom Callahan, CEO of NASDAQ Private Market, argues that today's liquidity crisis could mark a turning point for secondaries markets.

    The Rise of the Secondaries Market: From Backwater to Boomtown

    Play Episode Listen Later Jan 16, 2024 25:03


    Nigel Dawn, senior managing director at Evercore, explains how GPs and LPs are discovering new tools and techniques to finance deals.

    Inside the Modern Investor Relations Team

    Play Episode Listen Later Jan 9, 2024 19:16


    We asked two of Bain's leading experts on commercial excellence to take us to the cutting edge of investor relations.

    Macro Update: The Flip Side of Inflation

    Play Episode Listen Later Dec 19, 2023 22:09


    As inflation trends downward, should investors plan for a lower interest rate environment in 2024 — and even the possibility of deflation?

    A $140 Trillion Riddle, Wrapped in a Mystery, Inside of an Enigma

    Play Episode Listen Later Dec 7, 2023 18:35


    Today on the show, I have a lively conversation with Ashby Monk, the executive director of the Stanford Research Initiative on Long Term Investing. Ashby studies the inner workings of pension funds, sovereign wealth funds, endowments and foundations —  in short all of those LPs that sit somewhere in between the public and private sectors.“That means that they are optimizing for things that are not entirely evident to just the casual observer,” Ashby says.In this episode of Dry Powder, I ask Ashby to take us inside the $140 trillion universe of long-term investing and help us understand what exactly these organizations are optimizing for.If you'd like to stay up to date with my weekly series on LinkedIn, follow me here.

    Back to the Future w/ Vista's Robert F. Smith

    Play Episode Listen Later Nov 21, 2023 17:18


    In part two of our interview series, we explore Vista's approach to AI and how it connects to the company's founding story.

    Defying the Down Market w/ Vista's Robert F. Smith

    Play Episode Listen Later Nov 14, 2023 24:33


    We ask Vista's CEO how he continues to do deals at an astonishing clip, despite the challenging conditions of today's market.If you'd like to stay up to date with my weekly series on LinkedIn, follow me here.

    Fine-Tune Your Fund-Raising Game

    Play Episode Listen Later Oct 26, 2023 17:00


    In part two of our fund-raising series, we'll dig into the tools, tactics, and technologies that enable general partners to tailor their pitches to key decision makers within institutions.

    Level Up Your Fund-Raising Game

    Play Episode Listen Later Oct 19, 2023 13:41


    As competition for capital intensifies, a one-size-fits-all approach to institutional investors will no longer suffice.

    One Small Step for Private Equity, One Giant Leap for Philanthropy

    Play Episode Listen Later Oct 6, 2023 15:58


    We ask the founding team at Greater Share about their intriguing new approach to philanthropic funding and how they've already garnered support from some of the world's leading GPs.

    Macro Update: I'm From the Government and I'm Here to Invest

    Play Episode Listen Later Sep 21, 2023 15:03


    In part two of our macro series, we explore the risks and rewards of public-private partnerships.

    Macro Update: Are We Out of the Woods Yet?

    Play Episode Listen Later Sep 14, 2023 17:20


    We ask Karen Harris, the managing director of Bain's Macro Trends Group, whether the economy could emerge from this period of rate hikes unscathed.If you'd like to stay up to date with my weekly series on LinkedIn, follow me here.

    How to Recruit and Retain a Team of All-Stars w/ Bain Capital's Stephen Pagliuca

    Play Episode Listen Later Aug 31, 2023 15:43


    In part two of our interview series, we ask Steve how he recruits and retains a team of all-star players.If you'd like to stay up to date with my weekly series of posts on LinkedIn, you can follow me here.

    Upward and Onward In an Uncertain Environment w/ Bain Capital's Stephen Pagliuca

    Play Episode Listen Later Aug 24, 2023 20:22


    The longtime chairman and now senior advisor at Bain capital explains why he is “as excited” to be involved in the private equity industry today as he was 30 years ago.If you'd like to stay up to date with my weekly series of posts on LinkedIn, you can follow me here.

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