Clay is joined by Ted Seides to discuss his new book — Private Equity Deals: Lessons in investing, dealmaking, and operations from private equity professionals. The private equity industry has grown significantly in the past 20 years, now totaling over $6 trillion. Ted, the former president and Co-CIO of Protege Partners, is also the host of the popular podcast Capital Allocators. IN THIS EPISODE YOU’LL LEARN: 0:00:00 - Intro 0:01:12 - What has led to the growth in private equity over the past few decades 0:05:20 - Why David Swensen referred to private equity as a superior form of capitalism 0:09:28 - Why private equity has outperformed public equities as an industry 0:13:38 - How the lock-up period in private equity impacts returns 0:17:36 - Ted’s take on why private equity has been given a poor reputation 0:26:59 - The importance of pricing to the seller in a private equity deal 0:28:54 - How interest rate hikes have impacted private equity 0:31:03 - An overview of KKR’s “perfect private equity deal” 0:37:37 - An overview of Apollo’s purchase of Yahoo in 2021 0:45:35 - An overview KPS Partners’ purchase of TaylorMade 🤝 Network with like-minded value investors and get new stock ideas by joining the TIP Mastermind Community. https://www.theinvestorspodcast.com/mastermind/ 📚 Start accelerating your learning journey today. Sign up and listen to Richer, Wiser, Happier for free at https://theinvestorspodcast.com/audible 💰Click here to download your FREE guide to Stop Worrying About Your Finances In 4 Simple Steps: https://www.theinvestorspodcast.com/subscribe-youtube/ ▶️ RELATED EPISODES: - The Changing World of Endowments & ESG Investing w/ Ted Seides: https://youtu.be/mSjwW6U9JfM - Investing Across the Lifecycle w/ Aswath Damodaran: https://youtu.be/M4DV6eYVpwg - How To Invest Like The Best W/ Ted Seides: https://youtu.be/RjHVtsF2szI - A Bet With Warren Buffett - Guest Ted Seides: https://youtu.be/llLwHVdn8wk 🎧 Listen to our episodes here: https://open.spotify.com/show/28RHOkXkuHuotUrkCdvlOP 🖊️ Access the transcript and learn more about the guest here: https://www.theinvestorspodcast.com/episodes/the-truth-about-private-equity-ted-seides/ 📖 BOOKS MENTIONED: - Capital Allocators by Ted Seides: https://amzn.to/3ZC7LSf - Private Equity Deals by Ted Seides: https://amzn.to/3MSVm4S Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😀 💡 OTHER RESOURCES - Seeking Alpha is a crowd-sourced content service for financial markets. Take control of your financial future — Use our link here for a 14-day free trial: https://www.sahg6dtr.com/59QC8Z/R74QP/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ABOUT OUR SHOW 🎙 On We Study Billionaires, we interview and study famous financial billionaires including Warren Buffett, Bill Gates, and Ray Dalio. We teach you what we learn and how you can apply their investment strategies in the stock market. 🌍 Website: https://www.theinvestorspodcast.com/we-study-billionaires/ 📝 Help us understand our audience better so we can create a more intentional user experience by answering this survey! https://www.theinvestorspodcast.com/survey2023-youtube ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ 📚OUR FREE INVESTING COURSES/RESOURCES https://www.theinvestorspodcast.com/tip-academy/ 📊TRY OUR STOCK INVESTING TOOL: TIP FINANCE https://www.theinvestorspodcast.com/tip-finance/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.