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Everything everyone above said is correct but I will add, you need to be a bit of a political animal if you’re going to rise to the rank of Operating Partner within the fund. Dealing with portfolio company leadership and personnel can be difficult, especially when there is a clash of visions or a lack of talent in a specific area required for strategic reasons.
Lastly, you have to put up results. In the end it all comes down to EBITDA and the exit multiple.
Less so on the modeling (that’s just the technical part), and more on understanding which financial and operational levers there are to pull, and when/how to execute said levers.
Most of this experience is earned on a case-by-case basis, with different situations and different external factors. So unfortunately, it’s really just getting the reps in executing growth strategies for the portcos, not just identifying the levers via CDDs (although, that skill is helpful too). It’s more of an art than a science.
Relentless cost cutting
Good thing I’m getting my cost modeling down
F. FinOps, ITOps, Domain specifics for the PE firms focus (such as Healthcare & Pharma, vs Telecom/ TMT will have differences)
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Id think they mean general finance ops. Like fp&a and etc.
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