In this episode, Alex Rawlings speaks with Andrew Sachs, Founder of Mauloa, about why he believes the traditional private equity model is fundamentally flawed — and what a long-term alternative looks like.After starting his career at Morgan Stanley Capital Partners, Andrew built Mauloa around a simple philosophy: no excessive leverage, no forced exits, and a focus on compounding cash flow over decades.Mauloa takes minority stakes (30–40%) in family and multi-generational businesses, avoids debt, and prioritises culture, balance sheet strength, and long-term alignment.⏱️ Timestamps00:00 – Andrew’s background and founding Mauloa01:10 – Why private equity’s model is flawed03:02 – Investing without debt or exit pressure06:18 – Fund structure without institutional capital07:44 – Incentivising management long-term10:49 – Free cash flow freedom vs leverage pressure12:14 – “Piles of money” vs chasing IRR16:54 – The Middle Market Accelerator19:16 – What Andrew reads and recommendsKey ThemesOver-leverage and short hold periods distort decision-makingLong-term compounding beats short-term IRR optimisationCulture and leadership matter more than financial engineeringSupporting “boring” small and middle-market businesses builds real wealthIf you're questioning whether traditional PE is the only model, this episode offers a thoughtful, long-term alternative.Raw Selection partners with Private Equity firms and their portfolio companies to secure exceptional executive talent. We focus on de-risking executive recruitment through meticulous search and selection processes, ensuring top-tier performance and long-term success.🔗 Connect with Alex Rawlings on LinkedIn https://www.linkedin.com/in/alexrawlings/🌐 Visit Raw Selection www.raw-selection.comLooking to grow your team? Check out our Hiring Guidesfor proven strategies, templates, and best practices to make smarter hires.