The Challenge
A private equity sponsor was preparing to start its second fund. The rapidly growing firm had recently become more complex, with a second platform, several pending transactions, and a growing investor base. The firm needed to bring accounting in house.
The Co-Founders were being pulled away from growing the organization and acquiring portfolio companies due to time spent on accounting, reporting, and administrative duties.
They wanted someone high potential who could take on those tasks and whom they could groom as the firm continued to acquire companies and add funds. Because the role was new, they also needed help clarifying the level of talent required and the exact duties the position should own. With these challenges in mind, they reached out to Alliance.
The Solution
Alliance helped the firm define the key duties of the new Controller position and identify responsibilities the Co-Founders could delegate. The team created a detailed job description, clarified the competencies and cultural fit needed, and built a strong value proposition for the market, emphasizing the firm’s rapid growth, fast-paced environment, and strong leadership. Alliance cast a wide net across Southern California and presented a CPA candidate with the right skill set and growth potential.
He had private equity accounting experience, large-firm best practices, and broader senior-level experience that prepared him to add value on day one.
The Outcome
The candidate accepted the offer and started in the new role. He successfully moved accounting in-house, created a monthly reporting package, and took on duties previously handled by the principals, allowing them to focus on growth and strategy.
Alliance’s ability to clarify the role, position the opportunity, and identify a candidate with the skills and growth potential required helped the firm build the foundation it needed to support its next phase of growth.