Show Notes
My guests today are Deiya and Dean Pernas, founders of Pernas Research, who have compounded capital at roughly 30% annually over the past nine years. We explore their private equity-like approach to public markets: understanding businesses from the inside out, judging management teams and capital allocation, and finding inflection points before they show up in the financials. We also discuss their “motor” investing framework, why trajectory matters more than absolute quality, lessons from p...
More from Buyers and Builders
What does it really take to build a successful private equity firm from scratch, and what can 30 years and more than 150 transactions teach you about investing? I sit down with James Andersen, co-founder of Clearview Capital, a lower middle market private equity firm managing approximately $2 billion in assets, to unpack the journey of building the firm since 1999. James shares how Clearview navigated difficult early investments, turned one healthcare investment into a 29x return and develop...
At 27, he had $0 in assets under management. By 32, he had raised $180 million. Today, Marc Stad's Dragoneer Investment Group manages over $40 billion. How did he do it? From getting rejected by TPG to being mentored by its legendary co-founder, David Bonderman, pitching Jeff Bezos in a bathroom, turning a $1 million investment into $4 million, and assembling a multibillion-dollar Uber deal with Warren Buffett, Marc Stad's story is a masterclass in ambition, persistence, relationships, and ...
What does it take to acquire companies, build a serial acquisition platform, and never sell? My guest today is Giuseppe Balzano, founder of Novaterra, an Italian permanent capital holding company acquiring niche industrial businesses with defensible technology and intellectual property. At just 30, Giuseppe has secured $25 million in equity commitments, pursued two acquisitions, and set out to build an industrial group that could endure for generations. We discuss why Italy's overlooked in...
What does it actually take to build a world-class roll-up? After spending a day at the RollUpEurope Serial Acquirers Summit with some of Europe’s most active serial acquirers, we break down the operating playbooks behind groups that have completed hundreds of acquisitions—and the lessons that matter whether you’re pursuing acquisition #1 or #50. This episode covers how great acquirers choose markets, build proprietary deal flow, win sellers without simply paying the highest price, keep foun...
My guest today is Sam Allsopp, co-founder of Neal Roofing and Waterproofing, a home services company he started with Andrew Neal in 2020 and has since grown from zero to roughly $50 million in annual revenue—all organically. What makes Sam’s story interesting is that he didn’t come from roofing. Before starting Neal Roofing and Waterproofing, he ran a marketing agency and worked with more than a dozen roofing companies, where he began to see firsthand why some contractors could turn leads in...