E430: Goldman Sachs’ Michael Bruun on AI, Private Equity & The War for Talent
What if AI makes talent, not technology, the biggest competitive advantage in private equity? Michael Bruun is Partner and Global Co-Head of Private Equity within Goldman Sachs Asset Management. We break down how Goldman Sachs competes for the best middle-market assets, why Michael believes talent can move the needle more than almost anything else, and how higher rates have forced private equity back to the fundamentals of EBITDA and cash-flow growth. We also discuss how Goldman is implementing AI across portfolio companies, why transformation must start with the CEO, and why the war for exceptional talent may become even more important as every employee becomes AI-enabled.
Highlights:
- How Goldman Sachs competes for the best middle-market assets.
- Why more than 110 operating partners can create a talent advantage.
- Why private equity’s value-creation playbook works best during volatility.
- How higher rates forced private equity to return to fundamentals.
- Why the best exits may depend on what never appears in the financial statements.
- How Goldman thinks about continuation vehicles versus strategic exits.
- The two outcomes Michael wants from every AI initiative.
- Why AI transformation has to start with the CEO.
Guest Bio:
Michael Bruun is Partner and Global Co-Head of Private Equity within Goldman Sachs Asset Management, which he joined in 2004. He is a member of several investment committees across Asset Management and previously served as Head of EMEA Private Equity and Head of Private Equity and Growth Equity investing for India. Michael earned bachelor’s and master’s degrees in economics from the University of Copenhagen, with studies at Cornell University. He currently serves on the Boards of Directors of Advania, GS Wyvern, LRQA, and Norgine and previously served on the Board of Directors of Northvolt
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Disclaimer:
This podcast is for informational purposes only and does not constitute investment, financial, legal, or tax advice. Nothing in this episode should be interpreted as an offer to buy or sell any securities or to participate in any investment strategy. All opinions expressed by the host and guests are their own and do not represent the views of Weisburd Pierce. Participants may hold positions or have financial interests in the companies, funds, or investments discussed. Any references to specific investments are for illustrative purposes only. Investing involves risk, including the potential loss of capital. Past performance is not indicative of future results, and any forward-looking statements are subject to risks and uncertainties. Any third-party data or opinions have not been independently verified. Listeners should conduct their own research and consult their own advisors before making any investment decisions.
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Transcript
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