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Ken Kencel

lines on the record: 110
first: 2023-03-31
most recent: 2023-03-31
sittings or episodes: 1
sources: podcast

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“I certainly figure that out along the way. But I think understanding that, yes, the technical side of the business is important, but it's really ultimately the people side, the relationship side, the ability to surround yourself and to motivate and mentor the best people that create the best organizations. I mean, look at this organization here. I mean, you know, it's all about that. And I think that, you know, that's something I've learned along the way. I wish I had known that a lot earlier.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“I think that when I was like all of us, when you're young in the business, you're convinced that it's all about showing everyone how smart you are and running the fastest models. I can remember the days at Drexel. We were all in the bullpen. They used to call it the model room, and everybody would go in there. And, you know, everybody would, you know, we would all compete for who had the most, the technologically advanced financial models. And it was all about the numbers. And I think that, you know, there's certain element of our business that is about the numbers. But 30 years ago, I was a young kid thinking, okay, well, you know, it's all about the numbers and whoever's the fastest modeler wins, whoever's got the most, you know, whoever's the smartest wins, but what becomes very clear is it's all about the people, not the numbers. And it's all about building relationships and working with people that ultimately make you better. And I think if, you know, I certainly know that today.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Several times along the way with our firm, and now we're in a phenomenal position with great partners and great people. So learning from and not letting failure deter you is really important.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“The mark of the most successful people I know. And this includes athletes like Tom Brady, who, by the way, was drafted in the fifth round and thought of his career. I'm sure thought of his career was quasi-over at that point, sitting on the bench in New England. But what you realize is it's all about having the tenacity and the willingness to pay the price to be really good at what you do. So you will fail. Do not let failure stop you in any way, shape, or form. Recognize you learn from failure and it's the failures that ultimately inspire the successes. When I think about my career, it was absolutely the times when it didn't work out for whatever reason that, you know, you analyze, you determine, okay, what was it that made it not work out and how do I fix that? And I think in many respects where we are today as a firm is a great example of that because we tacked several”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“I've got folks that I was in the bullpen with at Drexel back in, you know, back in the mid-80s that I'm still great friends with and still learn from and talk to all the time. Surrounding yourself with those people creates lifelong relationships and often come in very handy in the business world. I'm sure you've seen in your career. The other thing I would say is...”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Make sure that you understand going in that, you know, it's all about the people you work with, the people you learn from, surround yourself. And then this is both personal and professional. Surround yourself with people that love you, people that want you to be successful. If you surround yourself with people that have negativity and negative thoughts, you'll have negative thoughts, right? But if you surround yourself with people that you admire and respect and truly want you to be successful and that you can learn from and grow from, that's an incredibly important dynamic. And the other thing I would say, which is, I think, you know, and by the way, those friendships and relationships last a lifetime.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah. So, you know, I think, you know, in this age of instant success, if you will, people become media personalities overnight. They become TikTok stars in a week. I would say the advice I would give to young people is that”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“He is, and it's a super colorful book because it really, you really feel like you're in the shoes of Churchill as he's kind of navigating what is a, you know, potentially could have been the end of the free world. We know it, right? So it's a great read. I won't spoil the dynamics of it, but it's terrific.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Eric Larson. And it's all about England and Churchill in advance of World War II and really leading up through World War II. And what's fascinating about it is, I guess, maybe never, I never really fully realized how totally unprepared England was. World War II, let alone the United States, and how vulnerable they were, you know, in those early days and how easy it would have been for, you know, Germany, which had basically conquered the entire continent, I'm at the point now where they've conquered France.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“So I listen to books. I've kind of the point now we're a little bit lazy, but you go on Audible and you just stop and then you keep going. So I'm listening to a book right now that I think is absolutely fascinating. I would certainly recommend it. It's called The Splendid in the Vial.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“He is. And I've gotten obviously to continue to know him well. And I will say that the other thing that I would say about his time is if you look at his leadership of Carlisle and really building that firm and you look across the folks that are both there now and are alumni, you can see what I refer to in terms of the people. I mean, if you look at the first 20 or so folks that were at Carlisle, many of them were still there at the firm 15, 20 years later. And I think that speaks to that same dynamic I referred to, you know, building a real culture. And that's something I admire tremendously. And I certainly feel that he's a good example of someone who's done that and transitioned so, you know, seamlessly into being an author, an author, and an investor and ultimately a media personality. So he's somebody I admire very much.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“And of course, as you know, being here at Bloomberg, how he has transitioned incredibly To be one of the most interesting media personalities and interviewers. And we need to get him on your show.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“It was kind of a funny story. I was a new associate at a law firm, and I was directed to report to him. And as it turns out, he really didn't need anyone to help him. So I never really got a chance to work for him. But I met him then. We ended up at the business that I mentioned, Indo Suez. We ended up being one of their largest limited partners in finance many, many deals for not just David, but Glenn Junkin, who was an associate back then and Pete Clare and others. And so I've known David for over 25 years. Obviously, we sold our firm to Carlisle. And I would say of all the folks that I know in our business, really, truly just an incredible person and frankly brilliant in terms of how he built Carlisle into a global private equity firm.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“So I met David Rubenstein very, very early on, actually, even before my Drexel days, I was a lawyer for a few years. And David was as well. I actually met him when he was a lawyer, and I was a lawyer.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“It's all about how you were raised, and it's all about were you raised in an environment of love and happiness and positivity. And you can do this, or were you raised in a very tough environment? And so, you know, that movie was incredibly moving to me because, you know, I watched the thesis unfold. And so that's an example of one of the things that I watched.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Actually, then you find out that it really was nurture And it really was how you were raised. Not, you know, you were born, your three brothers and you do everything the same together and you're identical. Remember early on in that movie, they were all talking about, oh, this person does this and we all do the same thing and all we have the same. There's no doubt.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Ancestry. So I found my family in ancestry. And I was watching a movie. Call three identical strangers. And obviously, a lot of those dynamics really hit home to me as I watched. Three brothers who've been separated at birth. I have three brothers as well. And it was very interesting to see. And of course, the big question in that movie is, is it nature? Or is it nurture? In the conclusion, initially they all thought that it was nature, as you recall. Oh, well, he does the same thing.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Nine siblings. And by the way, there have been fantastic and incredibly excited and supportive, and most of them are still back in Buffalo New York.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“So I watched a movie that really, you know, given I've spoken about my background and more recently I actually found my birth family. Oh, really? Which is kind of interesting. And turns out that I grew up thinking I was an only child. And it turns out I have nine siblings.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Absolutely. But, you know, I think you have to have a passion. And I think in my case, you know, music is my happy place. Everybody needs to have a place they can go. And my happy place is, you know, Michael Jackson or whoever.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Oh, it's a democracy And by the way, you know, I have to put all of my CEO tendencies, leave them at the door, right? So suddenly our band is named Suburban Chaos. And in many respects, it can be chaos, right? Everybody wants to play their own songs. Everybody wants to do this. And this is first, et cetera. And you really have to be much more of a, you know, it's a democratic process. Let's put it that way as opposed to a company. But it's a lot of fun. And, you know, we play during COVID, obviously all that music was turned off, but we had something like 40 or 50 gigs teed up when we, you know, when we went out for COVID. So we play a lot.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, so we play all over New York and Connecticut, and we've played as far as Newport, Rhode Island, and New Jersey. But one thing about a band that's very interesting, Barry, is that unlike a company like ours, where there is clear, you know, you're the boss or she's the boss or whoever.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“That was John. Paul Rogers. Paul Rogers, former bad company. And we do a song that is a little bit less known by a guy named Paul Kerrick when he was with a band called Ace called So Long How Long. How long has this been going on? That”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah. Okay. Well, it'll show you a cross section of what we do. So I would say we do a lot of, you know, as you say, 70s rock. But we also do, for example, we play smooth operation. Smooth operator operators. So we play Smooth Operator, which is great. We do.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Exactly. It'll show up Well, look, it's all about entertaining people. It's all about playing music that uplifts them. It's all about playing music they want to dance to. And you know what? You know, you may have seen the same thing. I've certainly seen it. Our vintage music has had a bit of a resurgence, right? Sure. I mean, you know, I hear songs that I listened to when I was a kid, and I'm like, wait a second. That song's 40 years old.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“So I watch her starting to really get into this ballroom dance thing. And I realized I better get with my game here. So I need to have something to do too while my wife is traveling all over these dance competitions. So, and by the way, she was U.S. ballroom dance champion for many years as well. So she's really good at that. So anyway, so I figured, okay, I've got to have my gig, right? So we formed a band about 10 years ago. I like to say that our repertoire is, let's say, vintage.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Are you shredding or what are you doing? I'm a rhythm guitar player and a singer. My band, which I've had now for about 10 years. And it actually came about, interestingly enough, because full credit to my wife. She actually happens to be a competitive ballroom dancer. So, my wife would go off to competitions, and you could see the passion she had for really being a great dancer. And she's been a dancer for as long as I've been a guitar player.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“First of all, what sort of music do you play and how often are you guys gigging? Yeah, we giggle a lot. Well, first of all, I would just say this. I've been playing guitar since I was six years old, seven years old. And, you know, all of us, you know, if you've been playing guitar that long, all of us guitar players harbor the dream of being a rock star. Rhythm?”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“You know, people know who you are and what you're about. And so we want to make sure that we understand that when we make a hire to senior level. But absolutely about the people, absolutely important to vet them. Incredibly hard to do. And by having lots of folks involved in the process, particularly ones that are good at it and spending a lot of time doing follow-up and background checks, you get a pretty good picture of that person. And those are the people we want.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“In many respects, I wouldn't call it subjective, but I would say, you know, we have folks that do lots of interviews, and I would say there are certain people in our organization to do more than others because they're really good at it. And so we keep going back to them. But I would say that at the end of the day, it's very important not only to get a broad-based consensus around a person, but also to do the background checks. It's mind-blowing to me how many firms hire, in some cases, very senior people. Just think, well, this person's well known. We're going to hire them. And if they had made one or two phone calls, they would find.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Those are the easy ones, okay? The harder ones are where, you know, look, people gear up for an interview, you see one side of a person during an interview, and sometimes that's not the side you get. And so it's important in a couple ways. We typically have an individual that we hire interviewed by at least a dozen people, sometimes more. We want to get a look at them in all different facets and all different environments.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“I think that, first of all, it is absolutely the most important part of your job, but it's also the hardest Because you have a half an hour or 45 minutes and you're trying to assess whether this person is really going to fit well in the organization. Sometimes they self-select out, by the way, right? In other words, in the process, it becomes clear it's not a good fit.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“All through COVID. And I think that that's a mark of an organization that has tremendous stability. And, you know, I walk around all the time. And I'm talking to everyone. Literally, I think my people get sick of me walking around because I'm literally walking around. But I think it's really important to let them know you care and that, you know, they feel that and then they thrive on that passion.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Similar with other firms like this. I mean, if you look at Bloomberg, I'm sure it was Mike and three guys in a conference room when they got started, right? But it was the right three or the right ten, right? And you look at, you know, you look at firms in the asset management industry. And the stories in many respects very similar. So you want individuals that are Outwardly focused, focusing on building a team of incredibly talented people and understand that it's really important to act as a mentor and a coach and ultimately a cheerleader and a provider of opportunity to really grow in their career and their jobs. And what's fascinating about us is we've had virtually no turnover over the last several years.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Very interesting, you know, and I interviewed all of them, every single one of them. One of them's here in the studio with us today, and Jessica Tannenbaum, who heads up our marketing area in communications. And at the end of the day, you see something and you know it when you see it. It's a level of passion and enthusiasm. Obviously, all the boxes are checked, right? Experience, background, knowledge, understanding of the job, et cetera. But there's something else. And I would say that's something else is an outward-facing dynamic where they are clearly, incredibly passionate about what they do, but also that enthusiasm and passion is infectious. And they recruit people just like them. And suddenly, you know, instead of a core group that may be 10, 15, 20 people, and I'm sure this is probably...”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“But he changed everything in my life. And what he changed is he had a tremendous amount of humility and always taught me growing up that it's not about you. It's about how you can influence and change other people's lives. And so I've always had that focus. And so he sent me to an all-boys Jesuit high school called Canetius. The Jesuits kind of got behind the program and sent me to a Jesuit high school Georgetown University. And in my career, I've always tried to dedicate myself to making everyone around me better.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“And so my mother's brother, my uncle, raised his hand and said, you know, I can do this. I'll step in for my sister. He's an only child. I grew up in a pretty ramshackle part of Buffalo called Woodlawn. And ultimately, my uncle became my guardian. It took him well over a year. He never graduated from high school. He worked in the steel plant. We actually lived across the street from the Bethlehem Steel where he worked.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“I was left for ultimately for adoption when I was born, but I was basically left at the hospital. I was, by the way, unclear whether I was actually going to make it, so I was put on life support in an incubator and lots of other stuff. But anyway, long story short, I did, obviously I'm here. But I was adopted by a couple that luck would have it, both my father and mother died when I was quite young.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Servant leader. I believe my job is to serve my people and to make sure that they are able to do their absolute best at their job, not to create barriers or not to micromanage them, but to empower them and to knock those barriers down and to put them in a position where they can be successful.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Empower the best team in the industry, and you have to mentor the best team in the industry. And I look across the organization. It's all about at the end. In many respects, a servant leader, and that's what I believe.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah. No, and I think it's a great question. And obviously I've had a front row seat to lots of different institutions and certainly my own as well. And I think in the final analysis, I mentioned people. But it's even more than that in a very important way. It's ultimately about leadership, right? If the leadership of an organization empowers their people, puts their people in a position to succeed and understands that at the end of the day, their job is not to micromanage people. Their job is to set their people free and make sure that they're, you know, in a word kind of bulldozing all the barriers away, right? That's my job at the end of the day. And you approach it with a sense of humility and certainly a lot of passion. But at the end of the day, having, as I mentioned earlier, having hired what I view are the best team in the industry, you now have to.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“You want diversity of thought. You want diversity of backgrounds. You want diversity of ideas, right? I need somebody around to tell me when I'm being a knucklehead, right? And sometimes, you know, you can make wrong decisions, but it's a lot harder to make a bad decision. And there's a lot more of a defense mechanism if you surround yourself with people who have diverse ideas and diversity of thought and can say to you, you know what? I've actually been in that situation. This is probably not the right decision. So listening, building a very diverse team, listening to them, and ultimately being willing to change your mind when sometimes you don't have all the answers and you need to rely on folks that can really bring value. So I'm very humbled by that. And it's been a great run.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“But it's, you know what? It's the truth. It's really the truth. And on the people front, We've been very focused on really building a diversified workforce. So today, you know, nearly half our people are women or ethnic minorities because it's good business.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“I mean, no, thank you very much. Come back later. No, thank you very much. Interesting. Come see us a year from now. So it's a willingness to be incredibly tenacious and really not give up, you know, and, you know, I know that sounds kind of cliche-like, but it's.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“And Jose obviously is the CEO has really been an incredible supporter. And then I would say at the end of the day, it's also about recognizing that this is never easy. I mean, you know this very well. It looks so easy now, right? I tell the people's stories, you know, like, oh, it looks so easy. Tom Brady. It was inevitable. I mean, Tom Brady was drafted in the fifth round, and, you know, he was sitting on the bench in New England. And how does this happen? And I tell my kids this all the time. You have to be willing to pay the price in tenacity and a willingness to just keep, you know, if I told you how many times, not just me, but all of us who are really leaders in this space got turned down raising money”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“People. So, number one, it's all about the people. And I'm so proud of the team and the culture we've built. I mean, we literally just had our off-site two weeks ago. And, you know, I was practically crying. I couldn't believe what a great team we've put together. Secondly, the partners you have. You know, if you look at TIAA and Nouveen, they're an unbelievable partners. Nuveen's raising money for us. TA is investing their own capital, and obviously their members' capital. They've been incredible unwavering supporters. As I've mentioned, we managed $23 billion today for TIA and their participants. But also Nuveen has helped raise capital, and we wouldn't be here without them.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“They're going to be hiring people. So next thing you go, you know, you go from 10 to 15, 20 people. Suddenly you've got 50 people. We were at 50. Professionals when we went into COVID we're one hundred and fifty today. We were managing $6 billion when we hit COVID. We're managing $46 billion today.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“So I was actually on speaking at a conference, the Greenwich Economic Forum last week. Where your folks interviewed me actually, so I had a very nice conversation. But I was asked the question how does that happen? How do you go from $300 million from TIAA? They were our only investor. We had one investor eight years ago. We have nearly 2,000 investors today, including many, many of the largest U.S. pension funds and sovereign wealth funds and international investors. And I said three things. I said, number one, it's all about your people. And it's particularly all about the first 10 to 20 people you hire. If they are the right people, and obviously technical capability, but also just culturally are the right people They multiply like crazy.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“It is. And you know what? That doesn't mean that we don't negotiate over terms and we have to, and they do too. But at the end of the day, there's a level of respect and trust that we're going to get there. We like the business. It makes sense. And it's been a huge driver for growth in our business. I would venture to say that there have been very few direct lending firms like ourselves that in a relatively short period of time. You think about it's been seven years that we've been part of TIAA. It'll be eight years actually, our anniversaries coming up here. If you think about how we have grown this business, last year we were the second most active direct lender in the United States. That's a relatively short time when you look at every, you know, look at the firms that are around us. Many of them have been around for as many as 15 or even 20 years. So in that sense, we've grown the business quite significantly. And I'd be remiss if I didn't, I just got asked this question last week. So, you know.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source
“We've got a course of dealing where we both know, kind of we start with okay, we just did your last deal. Let's start with that document, right? So all of a sudden we're at the 95-yard line, right? So a lot ability to move much more quickly. Third, there's a level of trust. So when we say to that private investment firm, we're good. We're issuing a commitment letter. We're good. They know we're good, right? They know that after 20 years of working with us, we're going to be there for them. And oh, by the way, just one other element, we're a limited partner in your fund and our private equity team sits on your advisory board. And oh, by the way, we've got a long-term connection with you guys. We're here for the long run.”
2023-03-31 · Masters in Business · Ken Kencel on the Rise of Private Capital · IDENTIFIED FROM THE TRANSCRIPT · source