Seth Brennan (Lincoln Peak Capital) - Partnership, Autonomy, Alignment
Description
Seth Brennan is co-founder of Lincoln Peak Capital, which owns minority stakes in several asset management companies, including Troy. We discuss Lincoln Peak's long-term partnership model and the importance of autonomy and a strong alignment of interests as foundations for success.
Show notes:
[01:15 ] Seth discusses how he got into the industry
[02:49 ] Joining Affiliated Managers Group
[03:43 ] Lessons from AMG
[06:37 ] Setting up Lincoln Peak
[07:51 ] Starting a business in 2008
[10:01 ] The importance of having long-term capital
[14:10 ] Lincoln Peak’s long-term ambitions
[16:20 ] Exits
[18:51 ] The due diligence process and reasons for a transaction
[22:53 ] Importance of autonomy and alignment
[25:01 ] Adding value to partner firms
[28:26 ] Avoiding the temptation to intervene
[31:52 ] Continuing relevance of active management
[34:44 ] Catalyst for Troy transaction
[35:35 ] Why Lincoln Peak is a good partner for Troy
[37:14 ] Sebastian’s strengths as an investor
[38:35 ] Be curious and ask questions
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