Fund Shack Private Equity Podcast

Private equity, venture capital and alternative investments - long-form podcasts with industry leadersDive into in-depth conversations with industry leaders and gain exclusive insights into the world of private capital.🎙️Fund Shack is dedicated to providing thought-provoking, authentic discussions with the most respected private capital managers, asset managers, professional advisers, & thought leaders. Our long-form interviews are unscripted, ensuring genuine & enriching conversations. Hosted by Ross Butler, 25 years in the private capital industry.

Fund Shack Private Equity Podcast is a business podcast hosted by Fund Shack, with 66 episodes on record and a Required Pod Score of 80.

Fund Shack hosts Fund Shack Private Equity Podcast, a business show with 66 episodes published.

Our AI reads these to draft pitches. Use them as grounding for a pitch that cites a real guest and a specific topic.

• 

  Episode #92

  Private Equity: What Institutional LPs Really Want | John Renkema

  Sep 25, 202639 min

  Selecting suitable private equity funds is not the same as reliably predicting future outperformers. In Fund Shack episode #92, John Renkema, Partner and Head of Private Markets at Avida International, joins Ross Butler to discuss the work behind an institutional LP's investment programme: portfolio construction, diversification, commitment pacing and alignment of interests. Drawing on 24 years at APG, John challenges the emphasis on forecasting winners among established institutional funds. He is not arguing that selection is pointless: access, negotiated terms and portfolio fit still matter. He also distinguishes this market from venture capital, smaller buyouts and emerging managers, where the selection challenge can be different. IN THIS EPISODE Fund selection: choosing suitable managers versus predicting future outperformance. Portfolio construction: diversification across sectors, regions, strategies and vintage years. Commitment pacing: maintaining the capacity to invest when liquidity becomes scarce. Governance and incentives: committed capital, fund terms and who receives the carried interest. Continuation funds and LP–GP relationships: why “sell or roll” does not settle every conflict, and why professional distance matters. EPISODE PARTNER: SRS ACQUIOM Thank you to our Episode Partner, SRS Acquiom. SRS Acquiom provides a comprehensive platform to help manage merger and acquisition transactions and bilateral and syndicated loan facilities. https://www.srsacquiom.com/eu/ CHAPTERS 00:00:00 The LP's Role 00:04:54 Beyond Fund Selection 00:10:18 Governance and Diversification 00:18:17 Terms and Continuation Funds 00:25:22 Building an LP Programme 00:30:29 Understanding Investment Risk 00:32:52 Partners or Clients? ABOUT JOHN RENKEMA John Renkema is Partner and Head of Private Markets at Avida International. He previously managed a global private equity portfolio at APG. At Avida, his work focuses on independent advice to limited partners, particularly around private markets strategy and governance. Avida International: https://www.avida-int.com/ John Renkema on LinkedIn: https://www.linkedin.com/in/john-renkema-02198a/ ABOUT FUND SHACK Fund Shack explores the decisions, incentives and investment strategies shaping private markets, through in-depth interviews with investors and industry specialists and focused analysis with Ross Butler. Ross Butler is the founder and host of Fund Shack and the author of Invest Like a Barbarian: Share in the Spoils of a Private Markets Revolution. Explore our episodes, transcripts and articles: https://fund-shack.com/ Fund Shack newsletter on Substack: https://privateequitypodcastfundshack.substack.com/ Fund Shack newsletter on LinkedIn: https://www.linkedin.com/newsletters/privateequity-with-fund-shack-7159157815326949376/ Ross Butler's book: http://q-r.to/Invest-Like-A-Barbarian Suggest a guest, sponsorship and content partnerships: Katie@linearB.media Follow Fund Shack on your podcast app for more conversations on private equity, private credit, infrastructure, secondaries and private wealth access.

  ListenShow Notes
• 

  Fund Shack Private Equity Podcast

  Integrity risk in Private Equity: Beyond ESG Box-Ticking | Rupert Evill, Ethics Insight | Ep. 91

  Sep 9, 202652 min

  Does traditional ESG due diligence actually help private equity investors manage risk, or can it become part of the problem? Ross Butler speaks with Rupert Evill, Founder of Ethics Insight, about business ethics, integrity risk, fraud and due diligence in private markets. They explore why investors should look beyond policies and compliance checklists to understand the context, controls, culture and incentives inside a business. Rupert also explains why due diligence should be forward-looking. An investment can fundamentally change a company by accelerating growth, introducing new markets, decentralising decision-making and putting management teams under new pressures. IN THIS EPISODE Why integrity risk may be more useful than conventional business ethics The importance of context, controls and culture Why ESG box-ticking can distract from genuine risk management How AI is changing due diligence and compliance Why investment itself can create new portfolio company risks What whistleblowing and speak-up cultures reveal about a business How investors should think about fraud, corruption and political risk What founder due diligence can reveal about management and culture Why impact investing still requires rigorous commercial risk management ABOUT RUPERT EVILL Rupert Evill is Founder of Ethics Insight and has 25 years of frontline experience across more than 80 countries. His work spans investigations, intelligence, political risk, due diligence, crisis response, integrity risk and human rights. Rupert is a Certified Fraud Examiner and author of Bootstrapping Ethics, with postgraduate study in communication, behaviour and credibility analysis and Cambridge training in business sustainability. TIMESTAMPS 00:00 Business ethics, integrity risk and private equity 03:03 Context, controls and culture 06:37 ESG box-ticking, AI and due diligence 11:05 Whistleblowing, speak-up culture and fraud prevention 17:55 How investment changes portfolio company risk 21:05 Corruption, emerging markets and political risk 25:01 Fraud risk, compliance and corporate integrity 32:31 Founder due diligence and portfolio company culture 35:32 What should private equity investors monitor across a portfolio? 42:12 Supply chains, ESG, impact investing and responsible investment GUEST Rupert Evill Founder, Ethics Insight Connect on LinkedIn: https://www.linkedin.com/in/rupert-evill/ Ethics Insight: https://www.ethicsinsight.co/ Contact: https://www.ethicsinsight.co/contact/ ABOUT FUND SHACK Fund Shack explores private equity, private credit and the wider private markets industry through long-form conversations with leading investors, advisers and practitioners. HOST Ross Butler is the founder and host of Fund Shack. He has worked around private capital for 25 years as a journalist, policy adviser and consultant, and is the author of Invest Like a Barbarian: Share in the Spoils of a Private Markets Revolution. Connect on LinkedIn: https://www.linkedin.com/in/rossbutler1/ Fund Shack: https://www.fund-shack.com/ ORDER ROSS BUTLER’S BOOK Invest Like a Barbarian: Share in the Spoils of a Private Markets Revolution http://q-r.to/Invest-Like-A-Barbarian Interested in joining Fund Shack as a guest or exploring sponsorship opportunities? Contact Katie at Katie@linearB.media to discuss upcoming episodes, editorial themes and partnership opportunities.

  ListenShow Notes
• 

  Episode #90

  Private Capital in Brazil: Where Are the Best Opportunities?

  Aug 4, 202634 min

  Brazil offers one of Latin America’s deepest private capital markets, with opportunities across private equity, private credit, infrastructure, agriculture, critical minerals and distressed investing. Success requires local networks, thematic focus and a clear understanding of currency risk. Ross Butler speaks with Tim Chamberlain of Brunel Partners about why global investors remain underallocated to Latin America, where capital scarcity creates opportunity, and why private market structures may suit volatile economies. Why Brazil is often the best entry point into Latin America Agriculture, critical minerals and infrastructure Brazilian private credit and FIAGRO Distressed investing and complex capital structures Currency exposure and the cost of hedging Brazilian family offices, pension funds and precatórios Tim argues that the strongest investment cases are usually thematic rather than broad regional allocations. Brazil’s scale, legal framework and domestic capital markets create depth, while high interest rates and conservative bank lending can leave middle-market companies short of flexible finance. The discussion also examines currency risk at asset level. A Brazilian business may earn revenue from exports, commodities, dollar-linked contracts or inflation-linked concessions, so its economic exposure can differ from the currency in which a fund is denominated. Brazil may benefit from demand for data centres, renewable energy, agricultural production and critical resources. Private capital can provide patient finance, negotiated governance and specialist expertise where conventional markets remain limited. #PrivateEquity #PrivateCapital #Brazil #LatinAmerica #PrivateCredit About Tim Chamberlain Tim Chamberlain is based in São Paulo and works with Brunel Partners, a placement and advisory firm connecting Latin American managers, entrepreneurs and investment opportunities with global institutional capital. Tim began his career in Asia before joining Eurekahedge and opening its New York office. He moved to Brazil in 2010 and helped establish Brunel Partners in 2014. CONNECT on LinkedIn Brunel Partners contact@brunel-partners.com.br Host: Ross Butler is the founder and host of Fund Shack. He has worked around private capital for 25 years as a journalist, policy adviser and consultant, and is the author of Invest Like a Barbarian: Share in the Spoils of a Private Markets Revolution. CONNECT on LinkedIn Fund Shack Order Ross Butler’s book Invest Like a Barbarian: Share in the spoils of the Private Markets revolution #investlikeabarbarian Important informationThis conversation was recorded ahead of Brazil’s October 2026 presidential election. Political observations and market conditions reflect the position at the time of recording. Interested in joining Fund Shack as a guest or exploring sponsorship opportunities? Contact Katie at Katie@linearB.media to discuss upcoming episodes, editorial themes and partnership options.

  ListenShow Notes
• 

  Episode #89

  Private Equity in 2026: Why “12 is the new five” | Emilio Domingo, Bain & Company

  Jul 2, 202626 min

  Private equity is entering a tougher operating environment, where cheap debt and multiple expansion can no longer be relied on to deliver returns. In this episode of Fund Shack, Ross Butler speaks with Emilio Domingo, Partner in Bain & Company’s London office and Chief Commercial Officer for Bain’s EMEA Private Equity practice, about Bain’s latest private equity outlook, the idea that “12 is the new five”, and what it means for GPs, LPs and portfolio company management teams. In this episode, we cover: 🔹Why Bain says “12 is the new five” for private equity 🔹Why average buyouts may now need much higher EBITDA growth to achieve similar returns 🔹Why margin expansion has contributed surprisingly little to private equity returns 🔹The “leaky bucket” problem of inflation, price erosion and supply chain shocks 🔹Why scale, specialisation and accumulated experience are becoming more important 🔹How private equity balances value creation playbooks with entrepreneurial management 🔹Bain’s view of full potential diligence 🔹Why speed matters in private equity transformation 🔹The rise of the Chief Transformation Officer 🔹How AI is changing investment teams, value creation teams and portfolio companies 🔹Whether AI will favour emerging managers or scaled private equity platforms 🔹Why private equity-backed companies may have an edge in AI adoption 🔹Bain’s outlook for private equity and the industry’s liquidity challenge Chapters: 00:00 Why “12 is the new five” changes private equity 02:46 The new EBITDA growth challenge for buyouts 04:34 Why margin expansion has been so difficult 07:26 Why scale and specialisation are becoming critical 09:44 Private Markets Capability sponsor message 10:39 Value creation, governance and entrepreneurial management 12:57 The art of building a world-class value creation plan 14:33 Why speed matters in private equity transformation 15:51 The rise of the Chief Transformation Officer 17:23 How AI is changing private equity investing 20:11 Will AI favour emerging managers or the largest firms? 22:23 Why private equity could become the AI winner 23:41 Bain’s outlook for the future of private equity 🔹🔹🔹🔹🔹🔹🔹🔹🔹 Guest bio: Emilio Domingo is a Partner in Bain & Company’s London office and Chief Commercial Officer for Bain’s EMEA Private Equity practice. In this role, Emilio drives the commercial agenda for Bain’s regional private equity practice, helping the firm bring its capabilities, solutions and products to financial investor clients. 🔗 CONNECT on LinkedIn https://www.linkedin.com/in/emiliodomingo/ 🌐 https://www.bain.com/industry-expertise/private-equity/ 🔹🔹🔹🔹🔹🔹🔹🔹🔹 Host: Ross Butler is the founder and host of Fund Shack. He has worked around private capital for 25 years as a journalist, policy adviser and consultant, and is the author of Invest Like a Barbarian: Share in the Spoils of a Private Markets Revolution. 🔗 CONNECT on LinkedIn https://www.linkedin.com/in/rossbutler1/ 🌐 www.fund-shack.com 🔹🔹🔹🔹🔹🔹🔹🔹🔹 📘 Order Ross Butler’s book 👉 Invest Like a Barbarian: Share in the spoils of the Private Markets revolution ♾️ http://q-r.to/Invest-Like-A-Barbarian #investlikeabarbarian 🔹🔹🔹🔹🔹🔹🔹🔹🔹 About our sponsor: Private Markets Capability for Wealth Advisers Clients are increasingly asking not only whether they should invest in private markets, but how private equity and private credit fit within a portfolio, what the liquidity trade-offs are and what the underlying risks actually look like. The PMC-Q50 was developed to help advisers test their preparedness before those conversations take place. The free assessment takes around 25 minutes and produces a personalised private markets capability profile. It identifies where knowledge is strong, where it may need sharpening and which areas should be prioritised next. Take the PMC-Q50 assessment. https://pmc-q50.scoreapp.com 🔹🔹🔹🔹🔹🔹🔹🔹🔹

  ListenShow Notes
• 

  Episode #88

  Beyond SpaceX: War, AI, Orbital Infrastructure and green utopia | Mark Boggett | Seraphim Space

  Jun 19, 20261h 10m

  Private Markets Podcast, Fund Shack www.fund-shack.com Space is no longer just about rockets, satellites and astronauts. In this episode, Ross Butler speaks with Mark Boggett, CEO and General Partner of Seraphim Space, about how SpaceTech is becoming a critical infrastructure layer for defence, communications, data, AI, energy and industrial activity. Following the recent SpaceX IPO, many investors are being forced to develop a view on space. But as Mark explains, SpaceX is only one part of a much broader ecosystem. Launch and Starlink may dominate the headlines, but the wider opportunity includes Earth observation, satellite communications, orbital infrastructure, in-space servicing, data platforms, defence applications, AI-enabled analysis and even the early foundations of space-based energy and computing. The conversation explores why defence is currently the main revenue engine for SpaceTech companies, particularly across dual-use technologies that serve both military and commercial markets. Mark explains how European governments are reassessing their dependence on US space capabilities, why Germany is becoming more active, and why the UK continues to produce strong SpaceTech start-ups while still facing a later-stage capital gap. Ross and Mark also examine the commercial side of the market. AI is making satellite data easier to ingest, interpret and apply across industries. Falling launch costs, particularly through Starship, may change the economics of orbital infrastructure. That could make previously speculative ideas, such as orbital data centres, in-space manufacturing and solar energy generation, more plausible over time. Mark also discusses Seraphim’s own investment model, from accelerator stage through to venture and listed growth capital. He explains why specialist knowledge matters in SpaceTech, why vertical integration can create powerful moats, and why permanent capital may be well suited to companies building the next layer of digital infrastructure in space. In this episode: Why space is better understood as infrastructure than as a conventional sector Where the opportunity sits beyond SpaceX, Starlink and launch Why defence demand is accelerating revenues across dual-use SpaceTech How AI is changing the economics of satellite data Why falling launch costs could unlock orbital computing and manufacturing How orbital debris and in-space servicing are becoming investable markets Why Seraphim uses accelerator, venture and listed growth capital structures Guest: Mark Boggett is CEO, General Partner and co-founder of Seraphim Space, an investment firm dedicated to the global SpaceTech market. He helped launch the world’s first venture-capital fund focused exclusively on SpaceTech in 2016. 🔗 CONNECT on LinkedIn https://www.linkedin.com/in/mark-boggett-5044631/ Seraphim’s platform spans an accelerator, early-stage venture capital and the London Stock Exchange-listed Seraphim Space Investment Trust, giving the firm exposure to businesses from formation through to growth stage. 🌐www.seraphim.vc HostRoss Butler is the founder and host of Fund Shack. He has worked around private capital for 25 years as a journalist, policy adviser and consultant, and is the author of Invest Like a Barbarian: Share in the Spoils of a Private Markets Revolution. 🔗 CONNECT on LinkedIn https://www.linkedin.com/in/rossbutler1/ 🌐 www.fund-shack.com 🔹🔹🔹🔹🔹🔹🔹🔹🔹 📘 Order Ross Butler’s book 👉 Invest Like a Barbarian: Share in the spoils of the Private Markets revolution ♾️ http://q-r.to/Invest-Like-A-Barbarian#investlikeabarbarian 🔹🔹🔹🔹🔹🔹🔹🔹🔹 Our sponsor Private Markets Capability: https://privatemarketscapability.com/ Take the PMC-Q50 assessment. https://pmc-q50.scoreapp.com

  ListenShow Notes

Recent guests on Fund Shack Private Equity Podcast. Study who booked and why before you pitch.

Based on semantic analysis of episode topics and host coverage, this show is a strong guest fit for executives in:

Industry fit is computed by PitchCentric using vector embeddings of the show's episode catalog.