
Two and Twenty: How the Masters of Private Equity Always Win

Can I see this working out?
Sachin Khajuria • Two and Twenty: How the Masters of Private Equity Always Win
the target outcome is to make money for investors—and
Sachin Khajuria • Two and Twenty: How the Masters of Private Equity Always Win
Private equity develops an original investment theme or, as in this case, looks at a series of events and tries to see if there is an opportunity to create value.
Sachin Khajuria • Two and Twenty: How the Masters of Private Equity Always Win
The deal team refines this lens several times during the life of an investment, primarily to sharpen the view of the outcome that can be achieved, as it digs further into the operations of the target and generates ideas for how to improve the financials.
Sachin Khajuria • Two and Twenty: How the Masters of Private Equity Always Win
meet every morning and evening to review progress and set tasks.
Sachin Khajuria • Two and Twenty: How the Masters of Private Equity Always Win
team tracks the progress of the invested-in business and tracks the thesis that persuaded the investment committee. They do this once a quarter, if not every month—without fail. Course corrections are suggested, missteps are identified, and grenades are dodged.
Sachin Khajuria • Two and Twenty: How the Masters of Private Equity Always Win
talking without being prepared is the definition of wasting time.
Sachin Khajuria • Two and Twenty: How the Masters of Private Equity Always Win
it can take only three or four investment professionals to find, execute, and manage an investment worth billions of dollars.
Sachin Khajuria • Two and Twenty: How the Masters of Private Equity Always Win
deal teams generally consist of one employee from the analytical base, one from the middle layer, and one or two from the senior set.