Dowling: Aging founders and asset-light models drive consulting consolidation
Greg Dowling · Greg Dowling – Mid-Market Institutional Consulting at FEG (Capital Allocators, EP.248) · May 2, 2022 · at 9:48
Greg Dowling, CEO and Head of Research at FEG Consulting, explains the succession and structural buyout dynamics driving consolidation across institutional investment consultants.
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“Now, fast forward to the last decade or so, these people that started in their thirties and forties, you know, they're 60 and 70 years old, and they need a liquidity event, and even if they've passed down the partnership and expanded it, it's still hard for junior partners to buy something where there aren't any hard assets. Your people in consulting are your assets. They leave every day on the elevators. And so that's hard. So you've seen a lot of consolidation.”
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