Spire Search Partners reveals talent market highlights in the PE sector for 2Q 2025.

Key Trends

Over the last three months, we’ve observed the private equity talent market being significantly shaped by ongoing economic uncertainty, deal slowdowns, and a strong pivot to operational excellence and new capital sources:

Deal Slowdown & Exit Bottlenecks

After a promising start to the year, global buyout dealmaking slowed in Q2 as tariff uncertainty and macroeconomic volatility disrupted both new investments and exits. The IPO market essentially froze, and exits via sales became harder, creating a backlog of portfolio holdings and putting liquidity pressure on both GPs and LPs.

Fundraising Challenges & New Capital Sources

Facing persistent fundraising challenges, PE firms are exploring new capital sources. With no buyout funds over $5B closing in early 2025 and a rebound not expected until 2026, attention is turning to retail investors. 401(k) plans alone could inject an estimated $500 billion per year into private markets by 2028, presenting a major new AUM opportunity.

Operational Focus for Value Creation

With longer holding periods, GPs are intensely focused on operational improvements and revenue growth for value creation. We see firms acting as true operators, mastering EBITDA growth and accelerating deal processes under pressure from LPs. We are actively working on and have seen an uptick in hiring for these operational roles.

Top Posts

  • Last quarter, Private Equity Info released its list of 50 notable deals made by Association for Corporate Growth (ACG) members, and it really shows what’s influencing the PE market. See more details in this article and view the list of recent platform acquisitions.
  • The AI Operating Partner is quickly becoming indispensable in PE. A Korn Ferry report shows they can drive significant gains, with improvements in finance and accounting reaching up to 25%. As AI becomes central to value creation, we’re seeing more firms bring in this dedicated expertise to really maximize its potential across their portfolio.
  • We gained valuable insights and key networking connections at several industry meetings. At the IRSA Annual Executive Search Conference, we connected with colleagues from leading boutique firms and discussed various trending topics, including the latest AI tools and advanced assessment techniques. Hunt Scanlon Media also hosted the excellent “Private Equity Recruiting: Leading and Scaling with Talent” event; our recaps below cover only a few standout sessions, as there was so much great information to take in:

Client Success Stories

We highlight recent collaborations with leading PE firms to add key executives to their leadership teams:

Vice President of Portfolio Valuations Placement

SoftBank Vision Fund needed a top-tier, diversity candidate in the competitive Bay Area – and we needed to provide more than a typical search. We launched a highly targeted strategy, mapping out key talent pools and engaging a diverse range of professionals.

Our focused approach paid off, and we identified four exceptional candidates, resulting in a successful placement that demonstrated our ability to deliver specialized talent solutions in particularly challenging scenarios.

Work Anniversaries (Past Placements)

We send a big congratulations to John MacDonagh and Eric Bellomo – they’re both Senior Analysts in Emerging Technology and are celebrating their 3rd work anniversary at PitchBook. We’re always excited to acknowledge our impressive past placements!

Notable Market Moves

CFO

  • New Republic Partners promotes Jason Grooters to Chief Executive Officer and Chief Financial Officer. He previously was the Chief Financial Officer.
  • John Beczak joins Petra Funds Group as Chief Financial Officer. He comes from Resource Capital Funds where he was Partner & Chief Financial Officer.
  • Steve Glover was promoted to Chief Financial Officer at Pelion Venture Partners. He previously was the Administrative Partner.
  • Lisa Moceri joins Maxim Partners as Chief Financial Officer and Chief Administrative Officer. She comes from Crown Capital where she was the Chief Operating Officer and Chief Financial Officer.

COO

  • Jeffrey Iverson joins Eldridge Capital Management as Partner and Chief Operating Officer. He comes from Eldridge Industries where he was the Operating Partner.
  • Serent Capital hires Olga Kaplan as Chief Operating Officer. She previously was the Senior Vice President at Vista Equity Partners.
  • Curate Capital promotes Conor Mack to Chief Operating Officer. He previously was the Chief of Staff.

BD/IR

  • Pinegrove Venture Partners appoints Frank Chang as Vice President, Investor Relations. He comes from Silicon Valley Bank where he was the Vice President – Global Fund Banking.
  • Ryan Drumm joins L Catterton as Managing Director & Chief Operating Officer, Investor Relations. He comes from American Industrial Partners where he was Partner, Marketing & Investor Relations.
  • Hellman & Friedman hires Adam Laursen as Managing Director, Investor Relations. He previously was with Abu Dhabi Investment Authority where he was Portfolio Manager, Private Equity.
  • Olivia Lassoff Barker joins Nexus Capital Management as Managing Director & Head of Investor Relations. She comes from Golden Gate Capital.
  • Greenoaks hires Alex Nguyen as Partner and Head of Investor Relations. He previously served as a Partner at Lux Capital.
  • Energy Capital Partners appoints Will Lipinski as Vice President, Investor Relations. He comes from Probitas Partners where he was the Director.

HR/Talent

  • Gryphon Investors appoints Scott Pitasky as Managing Director, Human Capital. He previously was the Chief People Officer at Unity Technologies.
  • S2G Investments hires Mary DaSilva as Chief People Officer. She previously was the Chief Talent Officer at The Vistria Group.
  • Bryan Sienerth joins Shore Capital Partners as Director of Talent. He comes from FALCON where he was Vice President, Executive Search.
  • Elizabeth Ryan joins Roark Capital as Head of Talent. She comes from Alpine Investors, where she served as the Talent Lead.

Recent Searches

  • VP/Principal – Portfolio Initiatives @ $1b AUM mid-market PE; expanding team of generalists driving value creation strategy and initiatives
  • Head of Finance, Management Co. @ $2.5b Private Markets Firm; adding senior leadership under the COO
  • VP of FP&A, Management Co. @ $2b Private Equity Fund; expanding team under the CFO
  • Sr. Manager, Fund Management & Transaction Advisory @ $2.5b AUM mid-market PE; adding leverage under past placement in Fund/Portfolio Management
  • Sr. Director of Regulatory Risk @ Major Global crypto exchange; expanding US risk/compliance framework
  • Head of Marketing Compliance @ Private Markets Firm; building out key compliance capabilities
  • Head of PE Research @ Pitchbook Data; team building leadership across credit, mid-market equity, and the PE Industry