Private Equity Value Creation Podcast Ep. 118: Ellen Havdala, EGI | Alignment, Apprenticeship and Enduring Partnerships
7 snips
Mar 11, 2026 
Ellen Havdala, Managing Director at Equity Group Investments with decades of operator-led investing experience. She discusses flexible capital and nontraditional fund structures. She covers evaluating barriers to entry and structuring liquidity for black swan events. She explores culture, apprenticeship, incentive alignment and building repeatable, long-term partnerships.
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Flexible Capital Enables True Patience
- EGI uses a flexible, dedicated capital base that removes prescriptive hold periods and allows one to two investments per year.
- That flexibility enabled holding companies from one year to 35 years, choosing the hold period based on asset needs rather than fund cycles.
Invest Where Your Operations Create Value
- Prioritize investments where your operating expertise meaningfully differentiates outcomes over relying on multiple expansion.
- Target founder-owned firms that need professionalization or successor management while preserving their culture and legacy.
Buy Cash Flow Businesses And Avoid Misaligned Sellers
- Do not over-lever companies; buy businesses with at least double-digit EBITDA to survive shocks.
- Ensure strong liquidity and alignment with management day one, otherwise be prepared to pass even attractive deals.
