Eliot Kerlin, Founder and Managing Partner of Broadwing Capital, shares the unconventional path that took him from pre-med to private equity and the principles that now guide his firm's approach to building durable, high-performing companies. He unpacks Broadwing's value-creation playbook, the importance of forecasting NTM cash flow, and why culture, people analytics, and in-person leadership sit at the center of long-term success. Eliot also reflects on the tenacity required to launch a firm—and the clarity needed to focus on what truly matters. It's a grounded, thoughtful conversation that sharpens anyone building or leading in today's private equity landscape.

Episode Highlights:
1:04 – Growing up in Texas, early influences, and the winding path from pre-med to finance
3:44 – Breaking into Wall Street from a non-target school and the power of persistence
10:51 – Lessons from hands-on jobs and how service work shapes leadership instincts
17:54 – What makes a "good business" vs. a "good investment" and why NTM cash flow matters most
26:55 – The tenacity and structure behind launching Broadwing Capital in a tough fundraising market
33:42 – How Broadwing builds culture, trust, and alignment inside portfolio companies
48:35 – Eliot's most influential books and the thinking frameworks he uses to lead and invest

For more information on Broadwing Capital, go to https://broadwingcap.com/
For more information on Eliot Kerlin, go to https://www.linkedin.com/in/eliot-kerlin-89432b/

In this episode of Karma School of Business, Sean Mooney interviews Drew Meyers, Partner at Seaport Capital. Drew shares how his unconventional path—from off-track betting to M&A integration—shaped his approach to lower middle-market private equity. He breaks down Seaport's focused strategy on founder-led businesses, where they invest early in professionalization across strategy, sales, and finance. The conversation covers everything from the importance of relationships and never burning bridges to how BluWave helps Seaport access cost-effective resources tailored to smaller portfolio companies.

Episode Highlights:
2:00 - Drew's winding path into PE, including bartending and selling industrial insulation
6:00 - Why M&A integration experience is valuable training for private equity
13:00 - Working with founder-led businesses and understanding the founder mindset
19:00 - Seaport's three-part value creation playbook: strategy, sales, and finance
29:00 - How to professionalize early-stage companies without overspending
32:00 - Finding cost-compatible resources for $3M EBITDA businesses
35:00 - Career advice: never burn bridges and do things the right way

For more information on Seaport Capital, go to https://www.seaportcapital.com/
For more information on Drew Meyers, go to https://www.linkedin.com/in/drew-j-meyers/

In this special edition of the Karma School of Business, Sean Mooney, Founder and CEO of BluWave, breaks down key findings from BluWave's Q3 2025 Private Equity Insights Report. Drawing parallels between his son's fencing lessons and today's economic climate, Sean explains how the best investors are shifting from a defensive stance to an offensive one. Seeing through the noise, leaning forward, and playing to win.

He shares fresh data showing that deal activity, due diligence spending, and AI investment are all surging—signs of an industry on the offense. From the manufacturing renaissance to the rise of flatter, AI-enabled organizations, Sean offers a grounded, data-backed view of where private equity and the broader economy are heading next.

• 1:07 – The Sport of Fencing and PE: what private equity can learn from shifting from defense to offense

• 4:40 – Why the U.S. economy is "good enough" and accelerating despite the noise

• 11:45 – Deal data shows confidence returning: due diligence projects up 43% year-over-year

• 14:33 – PE firms' AI and analytics demand surges 300% and 1,600% for AI/ML advisory

• 18:39 – Manufacturing reshoring, venture collaboration, and the next wave of innovation

• 21:06 – The coming of flatter, AI-enabled organizations and what it means for talent

• 25:39 – Sticky inflation, rate cuts, and why the next economic cycle is already underway

For more on BluWave, visit: https://www.bluwave.net/
To request the full Q3 2025 Insights Report, visit: https://www.bluwave.net/insights-report/