Non-Operating Partner in Search?

searcher profile

June 16, 2025

by a searcher from The Ohio State University - Max M. Fisher College of Business in Columbus, OH, USA

Seeking insights from the search fund community: Is there a viable role for a non-operating partner? I truly enjoy the "art of the deal" – specifically deal flow, financial modeling, and structuring acquisitions. My passion lies in the upfront work of putting deals together, and I'd be keen to partner with a searcher on a fee or equity basis to contribute in this capacity. While I thrive on the deal-making process, I recognize that the day-to-day operational responsibilities are a unique skillset that isn't my primary focus.
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commentor profile
Reply by a searcher
from Gonzaga University in Denver, CO, USA
Lot's of PE firms have made it their strategy to bring in the business operators to help mange the day-to-day. The key here is diligenceing your partner as thoroughly as you diligence your deal. The quickest way to destroy a business is to alienate the management team by parachuting in a know it all or a dictator
commentor profile
Reply by a searcher
from INSEAD in Oakland, CA, USA
Sounds like you enjoy the deal side of ETA/Search more than the operating side...you might be able to sell buy-side advisory services. Consider pitching an equity slide rather than cash as your compensation if you want to be more of a partner on the deal.
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