E336: The Private Equity Firm of 2030

Mar 30, 2026

Sam Tidswell-Norrish, Partner at Access Holdings who builds research and tech-enabled operating infrastructure for lower middle market deals. He discusses innovation across sourcing, value creation, and back office. AI’s role in deal flow and portfolio ops comes up. The conversation highlights why the lower middle market is fertile for alpha and why culture, curiosity, and relationships matter.

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INSIGHT

Three Layers Where Private Equity Innovates

Innovation in private equity happens in three layers: origination (front office), portfolio value creation (middle), and back office operations.
Sam credits the fastest-growing firms like Apollo and Blackstone for innovating across these layers.

ADVICE

Originate Deals With Research And Scored Target Lists

Build research-first origination by creating thesis reports and a scored target list to focus outreach.
Access uses an in-house NOAA Research team, EKG reports, and a 31-point digital sophistication score to pick 200 targets from thousands.

INSIGHT

Data Warehouse Enables Store Level Operational Alpha

Advanced portfolio analytics let GPs monitor operations to store-level and act predictively.
Access built a Snowflake data warehouse fed from ERPs via Fivetran to spot issues like missed leads or misbudgeted stores.

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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:

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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