E216: How the $100 Billion Continuation Vehicle Trend Is Changing Private Equity

In this episode of the "How I Invest" podcast, David Weisburd interviews Paul Cohn, Managing Partner at Agility Equity Partners, about continuation vehicles (CVs) and independent sponsors in the private equity landscape. They discuss the growth of the CV market, its performance relative to buyouts, and the incentives for GPs and LPs to participate in CVs. Cohn explains the mechanics of CV transactions, the role of independent sponsors, and the potential for alpha generation in lower middle market deals. He also shares insights on the ethics of GPs and offers advice for aspiring investors, emphasizing the importance of trusting one's gut and making decisive changes when necessary.