My guest is Wylie Fernyhough, PitchBook’s lead private equity analyst, where he produces industry research and dives deep on thematic areas of interest.

Our conversation covers his research on the business of buying stakes in asset managers.  We discuss its history, rationale, and perspectives from each side of the table involved in these transactions – the stake buyer, the manager who sells a stake in their business, and investors in the manager’s funds. We also touch on the seeding business, private equity investments in sports franchises, and publicly listed alternative managers.

We are grateful to PitchBook for their sponsorship of Private Equity Masters, and eager to highlight the great work they do