Insights
Notes from the capital desk
Plain, useful thinking on how private-market deals actually get done — and how to bring yours to the desk.
Deal flow without capital flow
Accountants, attorneys, and brokers see financing needs before anyone else — and rarely have anywhere to send them. That gap is worth real money. Here is the arrangement.
Same money, two endings
Two owners get the identical capital on identical terms. Five years later, one is wealthier and one is annoyed. The difference wasn't the loan — it was what happened to the money after it arrived.
The simplest money you're not making
Income that doesn't ask you to hire anyone, build anything, or work after dinner. It asks you to notice — and you already talk to business owners all day.
Structuring certainty of close into an acquisition offer
Sellers don't always take the highest offer. They take the one they believe will actually close. Here's how to make yours that offer.
When asset-based capital beats a traditional term loan
A term loan is priced on your trailing financials. Asset-based capital is priced on what you own and what you're owed. Sometimes that difference is the deal.
Bridge-to-permanent: timing the capital stack
Bridge capital is a tool for a moment, not a home for the asset. The deals that work plan the exit to permanent financing on day one.