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      "text": "PE firms that nurture strong portfolio value-creation capabilities and apply them consistently will almost certainly see their performance advantage increase over their more passive rivals.",
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      "text": "heavy support. However, Vista’s deal team directors remain on point for maintaining relationships with portfolio companies’ senior leaders and are accountable with them for implementation of the value-creation plan.",
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      "text": "As different as they are, these models do share some common best practices. For one thing, the leaders staff their portfolio teams with the right experience and motivate their talent with the right incentives to achieve value-creation results. They ensure that there is clear buy-in across their organization about who has ownership of and accountability for value creation. They draw clear boundaries between the roles and responsibilities of deal teams, portfolio teams and external adviser networks. And they set firm decision rules for assigning their functional experts to initiatives that present the maximum value-creation opportunities.",
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      "text": "Top PE value creators are learning where and how to achieve the highest returns on their costly investment in portfolio management resources. The leaders apply a consistent process across all deals, using their value-creation plans to zero in on initiatives that offer the best opportunity to improve a portfolio company’s performance. The high performers put resources on those that will yield the best overall return.",
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      "text": "Ongoing changes in the PE investment climate will continue to favor the activist portfolio value creators over the longer term. Since 2008, the median length of time that assets sit in PE portfolios has stretched from less than 3.5 years to more than 5.5 years, yet only about a third of the PE firm managing directors that Bain surveyed reported that their firms refreshed value-creation plans for a majority of their funds’ assets held for more than three years. This presents an opportunity for the activists. PE firms that nurture strong portfolio value-creation capabilities and apply them consistently will almost certainly see their performance advantage increase over their more passive rivals.",
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