Jay Ripley, Head of Investments at GEM, compares typical private equity governance with consensus-driven partnership models.
0:00 / 0:09exact quote · 9.2s
720p mp4 · rendered on demand · StarZero watermark
“In many cases, we were really forced to come to a consensus with the management team in a way that I later learned you wouldn't normally see in private equity. Usually it's here's the plan and you can either do it or I'm going to fire you.”
quote is from the automated transcript, cleaned for reading:
filler sounds and stutters are removed, nothing is rephrased. names can be misheard
(the analysis reads context, assessments check outside sources). how →
More from Jay Ripley
Insight
Ripley: Emerging PE managers average higher returns than mid and large cap
“I was surprised as I looked at the industry data to see that in many cases, there was much wider dispersion at that earlier phase of a manager's life cycle, that fund one, fund two type era, but it was dispersion in both ways. The average was better than mid c…”
Jay RipleyNov 10, 2025▶ 17:11Jay Ripley – Emerging Manager Selection at GEM (EP.470)
Insight
Ripley: Strong pre-fund returns do not predict Fund I success
“We found over time that simply having strong returns pre-fund is not a good prerequisite for a fund one. It's about the intangibles we learn about you that support them.”
Jay RipleyNov 10, 2025▶ 27:15Jay Ripley – Emerging Manager Selection at GEM (EP.470)
Insight
Ripley: Tech alumni-focused emerging VC funds have a three-fund shelf life
“The issue and the trick for the folks in our seat is it's got a three-fund shelf life. By the time you finish fund three, everybody you know at Airbnb is left. By fund four, you're talking to strangers.”
Jay RipleyNov 10, 2025▶ 38:38Jay Ripley – Emerging Manager Selection at GEM (EP.470)
Opinion
Ripley: Leveraged 2x gross PE buyout strategies aren't worth it
“Especially in private equity, you meet a lot of folks who look good in a blue suit. We're trained to buy A plus assets and A plus auctions at very high prices with a lot of leverage. And that shows well to a committee. People like that. It feels good. A lot of…”
Jay RipleyNov 10, 2025▶ 56:25Jay Ripley – Emerging Manager Selection at GEM (EP.470)
“We back a lot of these emerging managers. I can tell you they are inundated with offers from folks who are saying, I'll give you a hundred million for your fund one, and I want one to one co-invest. What those folks are really saying is I want half off the rac…”
Jay RipleyNov 10, 2025▶ 1:06:08Jay Ripley – Emerging Manager Selection at GEM (EP.470)
Insight
Ripley: Large private equity firms generate mediocre net LP returns
“When I got to Jam and I started looking through the industry data, in many cases, those folks worked at larger firms, and their returns were no better than medium. It was surprising to me that my ground level observation is brilliant people, incredibly smart a…”
Jay RipleyNov 10, 2025▶ 16:38Jay Ripley – Emerging Manager Selection at GEM (EP.470)
Made with StarZero
Turn any episode into a week of clips.
This entire site, over 700 episodes transcribed, diarized, checked and made playable,
runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the
moments worth sharing, cuts them, captions them, and reframes them for every feed.
We use essential cookies to make the site work. With your permission we
also use analytics cookies (Google Analytics and Mixpanel) to understand
usage and improve StarZero. See our Cookie Policy.