Lloyd Metz (Partner, ICV Partners), Doug McCormick (Managing Partner, Oridian Capital Partners), and Sean Mooney (Founder & CEO, BluWave) are joined by James Aylward (Chief Product & Technology Officer, BluWave) and Nathan Plummer (Co-Executive Director, Venture Café Global Institute) to translate AI from concept into execution. The conversation moves beyond buzzwords to where firms are actually applying AI today—from coding and data strategy to real-time decision-making inside portfolio companies. They also address the practical barriers: data readiness, organizational adoption, and the risk of standing still. This is a clear look at what it takes to put AI to work in private equity—hit play.

Episode Highlights

1:30 - Why AI is shifting from buzzword to practical tool for operators

9:45 - ChatGPT as the inflection point that changed AI adoption overnight

13:00 - AI moves from “thinking partner” to executing tasks autonomously

18:30 - Applied AI in industries like biotech and robotics reshaping outcomes

23:10 - Data becomes the primary competitive moat across portfolio companies

30:15 - Why most companies struggle: fragmented, unstructured data systems

44:00 - Real-world example: automating hiring workflows with AI tools

For more information on the podcast, visit bestbutneverfinal.buzzsprout.com and embark on your journey to private equity excellence today.

Visit us on LinkedIn at https://www.linkedin.com/company/best-but-never-final-podcast/
Visit us on Instagram at https://www.instagram.com/bestbutneverfinal/

For information on Oridian Capital Partners, go to https://oridiancapital.com/
For information on ICV Partners, go to https://www.icvpartners.com
For information on BluWave, go to https://www.bluwave.net

Lloyd Metz (Partner, ICV Partners), Doug McCormick (Managing Partner, Oridian Capital Partners), and Sean Mooney (Founder & CEO, BluWave) assess the private equity landscape heading into 2026. They unpack the pressure to return capital, the realities of longer hold periods, and why growth—not multiple expansion—is now the primary driver of returns. The conversation also explores the accelerating impact of AI on dealmaking, operations, and portfolio company performance. This is a clear-eyed view of where private equity is headed next—hit play.

Episode Highlights

• 2:00 - Liquidity pressure builds as distributions lag across the industry
• 6:01 - Why market volatility stalled deal activity despite early momentum
• 10:29 - Surge in diligence activity signals a delayed but real deal rebound
• 12:02 - “12 is the new 5”: growth expectations reset for private equity returns
• 17:46 - Shift toward add-ons and operational upgrades across portfolios
• 23:09 - Manufacturing resurgence and reshoring create new investment themes
• 38:18 - AI moves from concept to execution across firms and portfolio companies

For more information on the podcast, visit bestbutneverfinal.buzzsprout.com and embark on your journey to private equity excellence today.

Visit us on LinkedIn at https://www.linkedin.com/company/best-but-never-final-podcast/
Visit us on Instagram at https://www.instagram.com/bestbutneverfinal/

For information on Oridian Capital Partners, go to https://oridiancapital.com/
For information on ICV Partners, go to https://www.icvpartners.com
For information on BluWave, go to https://www.bluwave.net

Doug McCormick, Managing Partner at HCI Equity Partners, and Lloyd Metz, Partner at ICV Partners, join BluWave’s Sean Mooney to explain why rollover equity sits at the center of private equity dealmaking. They break down the mechanics, tax advantages, and alignment dynamics that allow founders to take liquidity while remaining invested in future growth. The discussion also explores signaling, governance rights, and why investors pay close attention to how much an owner chooses to reinvest. If you want to understand why rollover equity drives many of the best outcomes in private equity, hit play.

1:41 - What rollover equity means and why founders keep ownership after a sale

4:19 - Why private equity firms want management teams to reinvest

6:43 - The mechanics of tax-efficient rollover structures

10:27 - The compounding power of tax deferral in rollover investments

17:19 - Why founders often start playing defense before a transaction

21:28 - The signaling effect of how much equity an owner reinvests

32:02 - Creating wealth for management teams through equity participation

For more information on the podcast, visit bestbutneverfinal.buzzsprout.com and embark on your journey to private equity excellence today.

Visit us on LinkedIn at https://www.linkedin.com/company/best-but-never-final-podcast/
Visit us on Instagram at https://www.instagram.com/bestbutneverfinal/

For information on Oridian Capital Partners, go to https://oridiancapital.com/
For information on ICV Partners, go to https://www.icvpartners.com
For information on BluWave, go to https://www.bluwave.net