Bridging Strategy and Execution: Recruiting Business Athletes in Private Equity PortCos
Bud Harrison — Senior Partner at hireneXus
In 2024, private equity (PE) experienced a significant transformation. After two years of decline, global PE dealmaking rebounded by 14%, reaching $2 trillion and marking the third-most-active year on record. This resurgence was driven by a more favorable financing environment, with the cost of financing buyouts declining, and new-issue loan value for PE-backed borrowers nearly doubling.
Despite this growth, portfolio companies are facing some serious challenges. While dealmaking surged, fundraising remains constrained, and traditional fund structures are under pressure. It’s a high-stakes environment where strategic ingenuity, execution speed, and operational agility separate success and failure.
Creating value in this environment within the portfolio requires leaders who can navigate both vision and execution. And the demand for “strategic but tactical” leaders — professionals capable of bridging high-level strategy with hands-on implementation — has never been higher.
At hireneXus, we’ve seen firsthand how this trend has reshaped leadership recruitment, particularly for roles focused on strategic initiatives. These positions — often titled Strategic Initiatives Lead, Business Transformation Executive, or Chief of Staff — play an important role in driving transformative growth within PE portfolio companies. But finding talent who can lead and get work done is both an art and science.
The “strategic but tactical” leader
Recruiting for strategic initiatives requires a deep understanding of what makes an ideal candidate. These roles call for a rare blend of high-level strategic thinking and hands-on execution. In essence, companies need business athletes — leaders who can set the vision and roll up their sleeves to make it happen.
One of the most successful talent pools for these roles comes from the consulting world. Consultants, particularly those from top-tier firms, are trained to diagnose complex business problems, craft strategic solutions, and execute initiatives across diverse industries. They’re adept at juggling multiple projects, managing stakeholders, and driving outcomes — all without the authority that comes from formal leadership roles.
But transitioning from consulting to an in-house strategic role within this world requires careful consideration. Not every consultant is cut out for the shift. The ideal candidate is someone who’s eager to own outcomes, navigate internal dynamics, and embrace the ambiguity that comes with transformational roles. Here’s what they bring to the table:
- Emotional intelligence: These roles require extensive cross-functional collaboration. Leaders must build trust with business unit heads, influence without authority, empower teams to succeed, and navigate complex organizational politics.
- Multitasking and adaptability: Strategic initiative leaders often juggle a dozen projects at once. The ability to switch gears, prioritize effectively, and manage competing demands is critical.
- Execution-driven mindset: We look for GSD profiles — leaders who “Get Stuff Done.” Vision is important, but without execution, even the best ideas fall flat.
- Long-term potential: Many strategic initiative roles serve as stepping stones. The best candidates are future COOs, CFOs, or CEOs, using this role to fill gaps in their business acumen before stepping into higher-profile positions.
Pitfalls in hiring for strategic initiatives
Despite the growing demand for these roles, many hiring managers fall into predictable traps when recruiting for strategic initiatives.
- Under-hiring: In an effort to save costs, some companies opt for mid-level candidates, only to realize later that they need someone with more experience and broader capabilities. A relatively small salary difference can mean an enormous gap in the results strategic leaders deliver.
- Misaligned expectations: Because these roles are less defined than traditional C-suite positions, there’s often misalignment on expectations. Companies must clearly articulate the outcomes they expect — whether that’s launching new revenue streams, improving operational efficiency, or leading portfolio integration.
- Overemphasis on industry experience: While deep industry knowledge can be valuable, it’s not always necessary. In many cases, a consultant’s ability to learn quickly and solve complex problems outweighs their lack of direct sector experience.
Best practices for hiring managers
If you’re hiring for a strategic initiatives role, here are five tips for success:
- Define success early. The role is expected to be a generalist, but clearly outlining what success looks like in the first 90 days, 6 months, and 12 months is key. Strategic roles often suffer from vague expectations, leading to misalignment.
- Prioritize adaptability over industry expertise. Focus on transferable skills — strategic thinking, problem-solving, stakeholder management — over niche industry knowledge.
- Avoid under-hiring. Invest in talent that matches your company’s future state, not just its current needs. It’s more cost-effective to hire for long-term growth than to backfill in two years.
- Leverage consulting networks. Tap into consulting alumni networks, which are rich with talent that fits the “strategic but tactical” mold.
- Emphasize career progression. Top candidates often view these roles as stepping stones. Be transparent about growth opportunities within the organization.
Let’s find strategic leaders for your PE firm.
At hireneXus, we specialize in finding these high-impact leaders — individuals who thrive in fast-paced, transformative environments and have the toolkit to drive real change. By understanding the unique demands of strategic roles and leveraging our extensive networks, we help PE firms and their portfolio companies secure the talent they need to compete and thrive in the coming years.
If your company is exploring new ways to scale through transformative leadership, let’s talk.
Bud Harrison is a seasoned executive search consultant and Senior Partner at hireneXus. He partners with private equity firms and subsequent portfolio companies, and he’s filled over 500 strategic-level roles.