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There are ideas so self-evident that no one thinks to question them. Focus is one of them. Concentrate on what matters. Eliminate the noise. Do one thing well. It sounds like wisdom that is difficult to argue with — which is precisely why it is rarely tested.
TIn 2024, Morgan Stanley published a study on value creation in middle-market private equity. Its central thesis is precise: in an environment of higher cost of capital, reduced leverage, and a more challenging exit market, hands-on operational value creation has become not an option but a necessity.
There is always leverage. The key is knowing where to look.
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