Goodbye Partner Track, Hello “F2E”: James Bohannon of Belzberg & Co.
James Bohannon of Belzberg & Co. highlighted the fast‑growing “Finance to Entrepreneurship” (F2E) movement, where seasoned finance professionals abandon partner‑track roles in private equity or investment banking to buy and run lower‑middle‑market companies. He explained how F2Es differ from traditional ETA, search funds, and independent sponsors by investing personal capital and assuming operational risk. Family offices are emerging as anchor investors, providing both capital and mentorship to these operator‑entrepreneurs. The conversation also covered the skill gaps, fundraising responsibilities, and the importance of reputation in driving deal flow for F2Es.
Rollover Equity: A Business Owner’s Guide to Negotiating Terms and Maximizing Exit Outcomes
Rollover equity lets sellers reinvest part of their sale proceeds into the acquiring entity, giving them a minority stake and a potential "second bite of the apple" when the business is later sold. Private equity firms use it to reduce...
Eliot Kerlin and Broadwing: Principles over Playbooks
Eliot Kerlin, founder of Broadwing Capital, discussed the evolving lower‑middle‑market private‑equity landscape, highlighting larger fund sizes, higher purchase multiples, and greater equity contributions. He noted the rise of operational private equity, independent sponsors and family‑office capital, and the need for...
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Industry Report: Healthcare Q1 2026 [Peakstone]
Healthcare M&A activity moderated in 2025, dropping to 898 transactions after a pandemic‑driven surge. Despite fewer deals, the median transaction value jumped to $151 million, the highest in 25 years, while EV/EBITDA multiples held steady near 12.5×. Public‑market returns diverged, with...
Case Study: A Broken LOI, the Right Advisor, and a Successful Exit
Owners of a concierge medical practice attempted a sale, but the first Letter of Intent (LOI) collapsed, leaving them to restart the process. They turned to Axial's Advisor Finder, which quickly presented four vetted M&A advisors with healthcare expertise. After...
