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Money Maze Podcast

71: David Novak, Co-President of CD&R, On Their Approach to PE and £7.1 Billion Morrisons Buyout

Money Maze Podcast

Money Maze Podcast

Business, Investing, Management, News, Business News

4.8216 Ratings

🗓️ 28 July 2022

⏱️ 48 minutes

🧾️ Download transcript

Summary

David Novak, a 25 year veteran of CD&R, offers a candid perspective on how PE operating models have evolved, the drivers of value creation, and some of the structural advantages PE can offer to private businesses.

He explains the public to private migration, shrinking stock market listings, the impact of technology on decision making for business owners and why family owned businesses decide to work with them.

He discusses investments in SIG plc, the recent purchase of Morrisons supermarkets in the UK, the industry expertise they have developed, some lessons learnt and reasons to be optimistic about the opportunities ahead.

Enjoy more episodes via our Curated Podcast series. Designed for financial professionals, these episodes offer in-depth insights into a range of funds and asset classes. Also available on  Apple Podcasts & Spotify

The Money Maze Podcast is sponsored by Schroders, Bremont Watches, LiveTrade and Mintus.

Please note, Sir Terry Leahy is a Senior Advisor to CD&R Funds. Operating Advisors and Senior Advisors are engaged by CD&R Funds and compensation for Operating Advisors and Senior Advisors is generally borne by the CD&R Funds and/or portfolio companies. Operating Advisors and Senior Advisors are not employees or Partners of CD&R.


Transcript

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0:00.0

Welcome to the Money Maze podcast. I'm Simon Brewer and Will Campion and I have created this show to explore and unravel some of the mysteries surrounding the investment business.

0:19.0

We hope through direct and insightful interviews with

0:21.9

masters of the real-life money maze, we're going to learn about different approaches to

0:26.3

allocating capital, making investment and business decisions, and navigating the pitfalls

0:31.7

that line the paths to prosperity. Whether you're a current or aspiring investor, entrepreneur, professional or student exploring career options, we hope you gain some helpful insights and enjoy the shows.

0:44.8

You can keep up to date by visiting Moneymayspodcast.com and please sign up to our newsletter to ensure you won't miss a release.

0:52.4

If you enjoy the show, please subscribe and we'd love you to tell a friend or colleague about release. If you enjoy this show, please subscribe,

0:54.6

and we'd love you to tell a friend or colleague about it.

0:57.3

Thank you for listening.

1:01.1

We're delighted to have Schroeder's as a sponsor and corporate partner.

1:05.6

Schroeder is a global investment manager,

1:08.0

whose purpose is to provide excellent investment performance through

1:11.4

active decision-making. For more than two centuries, Schroeder's has evolved their understanding

1:16.1

of markets, offering investment solutions across fixed income, equities, multi-asset, as well as

1:22.1

private markets through Schroeder's capital. Schroeder's actively invests in companies

1:26.8

with responsible and durable

1:28.3

business models. They're also a leading specialist in impact investing for clients who want to

1:33.2

maximise positive change. Capital is at risk with investing. Bramont is also a sponsor of the

1:40.1

Money Maze podcast. Bramont is a British company based in Henley that was established 20 years ago by two young

1:46.8

brothers whose dream was to design and engineer beautiful chronometers.

1:52.1

When Giles English, one of those brothers appeared as a guest on the Money Mays podcast last

1:56.7

year, he brought to life the wonderful history of British watch baking, helping to explain why the world sets its time by Greenwich Meantime, and he captured the incredible challenge of mastering the complexities involved in making exquisitely engineered timepieces. He has said never judge one of our watches until you've held it in your hand and felt the quality.

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