Lower Middle Market Alpha Opportunity

Is private equity becoming an asset gathering business instead of a performance business? In this episode, I talk with Sam Tidswell-Norrish, Partner at Access Holdings, about how private equity is evolving across sourcing, value creation, and distribution. We discuss why performance is still the core product, how AI is reshaping deal flow and portfolio operations, and why the lower middle market remains one of the best places to generate alpha. Sam also shares how culture, curiosity, and relationships drive long term success in an increasingly competitive and automated industry.

Highlights:

• Why performance should remain the core product in private equity
• The three layers of innovation across sourcing, value creation, and operations
• How AI is changing deal sourcing and portfolio management
• Why the lower middle market offers stronger alpha opportunities
• The role of culture in driving innovation inside firms
• Why curiosity is an underrated trait in investing
• Relationships as the ultimate long term advantage

Guest Bio:

Sam Tidswell-Norrish is a Partner at Access Holdings, a private equity firm focused on essential services in the lower middle market. He is a member of the investment and executive committees and works across sourcing, investing, and value creation. Prior to Access, he was part of the founding team at Motive Partners, a private equity firm focused on financial technology. He is also the founder of OPUS, a global community for early stage entrepreneurs, and an active investor across technology and private markets.

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Sponsor:

AlphaSense is the AI-powered market intelligence platform trusted by 85% of the S&P 100, helping investment professionals make faster, more confident, data-driven decisions. Built for hedge funds, asset allocators, private venture capital firms, and investment bankers, AlphaSense uses advanced AI and powerful search across premium proprietary content to surface the insights that matter most—before the market moves. Elevate your research and stay ahead of the competition. Visit https://www.alpha-sense.com/howiinvest/ to learn more.

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Disclaimer: This podcast is for informational purposes only and does not constitute investment, financial, legal, or tax advice. Nothing in this episode should be interpreted as an offer to buy or sell any securities or to participate in any investment strategy. All opinions expressed by the host and guests are their own and do not represent the views of Weisburd Capital. Participants may hold positions or have financial interests in the companies, funds, or investments discussed. Any references to specific investments are for illustrative purposes only. Investing involves risk, including the potential loss of capital. Past performance is not indicative of future results, and any forward-looking statements are subject to risks and uncertainties. Any third-party data or opinions have not been independently verified. Listeners should conduct their own research and consult their own advisors before making any investment decisions.

(0:00) The Three Layers of Innovation in Private Equity (1:19) When Firms Become Asset Gatherers Instead of Performers (2:44) Why Lower Middle Market Creates More Alpha (3:44) Why Research and Data Drive Modern Deal Sourcing (5:41) Why AI Doesn’t Replace Investment Judgment (9:01) Winning Deals Through Empathy and Preparation (12:12) Why Private Equity Firms Are Becoming Media Companies (17:58) How Top Firms Are Operationalizing AI Across Portfolios (23:17) What Private Equity Looks Like in 5 Years (35:12) The Most Underrated Edge: Relationships