Your 401(k) is about to get access to private equity, but how, in what form, and at what price are all still TBD. Which is kind of a problem for such a big change. The pitch for putting private markets in retirement accounts is all about fairness: regular people got locked out of the hottest private companies, such as SpaceX, OpenAI, Anthropic, and Stripe. But the products actually getting built are something else entirely. They are semi-liquid, evergreen, with various fee wrappers, and most of what you'll be offered is actually private credit rather than private equity or venture capital. Devin is joined by return guest Nizar Tarhuni, PitchBook's EVP of Research & Market Intelligence, to get into how these structures work, what to look out for, what questions to ask, and how, in the right circumstances, privates can work well in retirement accounts. They both agree, however, it is not a matter of if, but when and how, privates are coming for your 401(k).

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AI is reshaping the consulting industry faster than the internet or remote work ever did. Some say the industry's days are numbered. So why are Anthropic and OpenAI building PE-backed consulting firms of their own? And how will private equity firms and the companies they own feel the change?

We get into what AI is actually doing to the consulting industry, why it's hitting faster than any tech shift before it, and how consulting firms are using AI to transform themselves to stay ahead of their clients. If you're an investor, an operator, a consultant, or just trying to figure out where the AI transition leaves you, this episode separates the signal from the noise.

Joining Devin is Matt Umscheid, CEO of Investor Group Services, a consulting firm supporting hundreds of middle market private equity firms. Matt is a former consultant, operating partner, and three time PE-backed CEO so he's seen the consulting model from every seat that matters.

For more information, visit their website (https://igsinsights.com/) or LinkedIn (https://www.linkedin.com/company/igsinsights/)

Artificial intelligence is changing the rules of software investing, forcing private equity firms to adapt quickly and carefully. In this episode, we're joined by the team from Code & Co., one of the leading AI and tech due diligence firms serving private equity investors, to discuss how AI is transforming the way software companies are evaluated before a deal closes. Jim sits down with Code & Co. Managing Partners Dan Bender and Lukas Ingelheim along with Head of North America Kirby Montgomery to explain why tech due diligence is no longer just a checkbox exercise.

Dan, Lukas and Kirby walk us through real-world examples of overengineered software, cloud optimization opportunities worth millions of dollars, and how PE firms can identify companies that are positioned to thrive rather than become the next commoditized AI feature. Whether you're a private equity investor, software executive, operating partner, founder, or technology leader, this episode offers a practical look at what separates durable software businesses from those at risk of being disrupted.

About Code & Co.:

Founded in 2016, Code & Co. has close to 1000 engagements behind them for more than 200 global funds. They are a global and fast-growing practice with offices in Berlin, London, Paris and New York. From a fast first read-through to post-close value creation, Code & Co. works across the full deal lifecycle on both the buy-side and sell-side. The companies covered range from deep AI software businesses to tech-enabled players, and they also run IT due diligence for non-technical companies. Every member of the team is an operator with hands-on tech, product, and AI experience. That experience helps them take a confident view on where AI is building a real moat versus just being a feature that gets commoditized away.

To learn more about Code & Co., check out their website (https://www.codeandco.com/) or visit them on LinkedIn (https://www.linkedin.com/company/codeandcogroup/).

You can also connect directly with Dan, Lukas, and Kirby on LinkedIn:

https://www.linkedin.com/in/thedanbender/
https://www.linkedin.com/in/ingelheim/
https://www.linkedin.com/in/kirbymontgomery/