Tom Pinnell sits down with some of the most exciting emerging spinout and startup fund managers in private equity, as well as the people that back and advise them, to discuss their careers to date, why now is the time to launch an emerging manager, and the trials and tribulations involved in reaching a first close.
Powered by Langham Hall, the award winning fund services platform for emerging managers.
Underwriting new teams, diversity of thought and the secret to a successful first fundraise.
Regina Green spent seventeen years at Goldman Sachs, including leading Launch With GS (https://www.goldmansachs.com/careers/blog/possibilities-launch-with-gs), a billion-dollar strategy backing underrepresented founders and fund managers across roughly sixty investments. In 2024, she turned her focus to the earliest, most overlooked stage of fund building: the working capital gap facing emerging managers. She is now a managing director at Catalyze, where the GP Runway Fund provides non-dilutive loans directly to management companies, helping emerging GPs cover the costs of building an institutional-grade firm before they've closed a fund.
In this conversation, we talked about:
How managers can really stand out when speaking to LPs
Why funding underrepresented managers leads to better outcomes for everyone
The often overlooked areas that managers can fail LP due diligence
And of course, what Regina thinks success looks like for Catalyze
First Close is powered by Langham Hall (https://www.langhamhall.com/services/emerging-managers), the award winning provider of fund services to global emerging managers.
13 Oct 2026
Miles Otway, Co-Founder at Ama Capital
Why chemistry can kill a deal, bringing operating partners inside the tent, and building a business not just an investor.
Miles Otway has spent his career in the UK lower mid-market, most recently more than eleven years as a Partner and Head of New Business at Connection Capital. In late 2024 he co-founded Ama Capital an independent sponsor platform built on a simple idea: operating partners should not sit on the sidelines of the firm, they should be co-owners and integral to the strategy of the firm itself. The platform backs UK businesses in the lower mid market and has already completed its first two transactions.
In this conversation we talked about:
How bringing operating partners inside the GP changes decision-making, not just delivery
What happens when a great business and a great operator don't fit
Deal-by-deal capital versus building towards a fund, and why that's a business decision as much as a funding one
The difference between being a founder who backs deals and a founder who builds a business
And of course, what Miles thinks success looks like for Ama Capital
First Close is powered by Langham Hall (https://www.langhamhall.com/services/emerging-managers), the award winning provider of fund services to global emerging managers.
15 Sept 2026
Chris Gorell Barnes, Co-Founder at Ocean 14 Capital
"The most important investment thesis of all time."
Chris Gorell Barnes spent over a decade building the Blue Marine Foundation, one of the world's leading ocean conservation charities, before co-founding Ocean 14 Capital, a private equity impact fund dedicated to the blue economy. In 2024, Ocean 14 raised over €200 million for its debut fund hitting the hard cap. Chris says that Ocean 14’s mandate is "the most important investment thesis of all time."
In this conversation, we talked about:
Why a $3 trillion economy is still overlooked by investors
What happens if we don't increase our investment in the oceans
The importance of private equity in scaling these businesses
Shrimp genetics, cod farming and sustainable plastics
And of course, what Chris thinks success will look like for Ocean 14
First Close is powered by Langham Hall (https://www.langhamhall.com/services/emerging-managers), the award winning provider of fund services to global emerging managers.
11 Aug 2026
Guy Ellis, Founder at Broadfield Capital
Will Broadfield ever raise a fund, why the independent sponsor model is maturing in Europe, and the importance of personality types in high performing teams.
Guy Ellis began his career as a management consultant focusing on operational improvement and value creation, before holding roles at Goldman, Alcuin Capital and most recently Rockpool Investments.
Across his career, he's made nine platform investments, completed over twenty five bolt-on acquisitions, and delivered six successful exits. Eighteen months ago, he set up his own independent sponsor, Broadfield Capital, focused on buy and build strategies in the lower mid-market, and already has two platform investments under his belt.
In this conversation we talked about:
The independent sponsor dance: what comes first, the deal or the capital?
Why knowing your exit matters before you've even inked a deal
When does EQ overtake IQ?
Whether the independent sponsor model is here to stay
And of course, what Guy thinks success will look like for Broadfield
First Close is powered by Langham Hall (https://www.langhamhall.com/services/emerging-managers), the award winning provider of fund services to global emerging managers.
16 Jul 2026
John Messer, Founder at Copilot Capital
Is AI really taking over the world, are zombie funds a good thing, and when should a founder step down as CEO?
John Messer is the founder of Copilot Capital, a lower mid market SaaS investor.
John has spent a decade in private equity in the UK, including roles at Inflexion, Alchemy Partners and Tenzing, almost exclusively focused on software buyouts. In 2023, he founded Copilot Capital, which invests in founder led SaaS businesses in Europe. Copilot's first fund is now almost fully deployed, with investments in Sweden, Denmark and the UK.
In this conversation, we talked about:
John's unusual route into private equity
The “SaaSpocalypse” and how AI is reshaping software investing
How AI could change the structure of private equity deal teams
When founders should step back from the CEO role
The trade-offs of taking seed capital as an emerging manager
Why zombie funds may create new opportunities for specialist managers
And of course, what John thinks success will look like for Copilot
First Close is powered by Langham Hall (https://www.langhamhall.com/services/emerging-managers), the award winning provider of fund services to global emerging managers.
16 Jun 2026
Mark Williams, Co-Founder at Goldenpeak
Why private equity has become lazy, the importance of trust, and the key to a successful fundraise.
Mark Williams is the co-founder and managing partner of Goldenpeak, one of the most exciting private equity firms to have launched in recent years.
Mark began his career in investment banking at Close Brothers, before holding key investment roles at Bank of America, Sovereign Capital and most recently Inflexion.
In 2025, he co-founded Goldenpeak with ex-Houlihan Lokey banker Leon Gillespie, raising the debut fund at £375m, and hitting the hard cap in just 12 weeks.
In this conversation, we talked about:
How Mark began a career in Private Equity
The key factors that made such a fast fundraise possible, and the challenges along the way
Where there is value to be found in the current market
Building a high performing team
And of course, what Mark thinks success will look like for Goldenpeak
First Close is powered by Langham Hall (https://www.langhamhall.com/services/emerging-managers), the award winning provider of fund services to global emerging managers.
4 Jun 2026
Welcome to First Close
First Close is the emerging manager podcast, hosted by Tom Pinnell.
Each episode, Tom will sit down with emerging managers and the people who back, advise, and work alongside them — talking honestly about what it really takes to build a private equity firm from scratch. The fundraises, the failures, and the moments that define whether a first-time fund becomes a lasting franchise.
Episode 1 is coming soon. Hit follow to be the first to know when it drops.
First Close is powered by Langham Hall (https://www.langhamhall.com/services/emerging-managers).
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