#397 - Wiley Curran - Co-Founder @ CPC - Building A Perpetual Holding Company Of Lower Middle Market Businesses

Today, I sit down with my good friend Wiley Curran to break down the story behind CPC, a family-built perpetual holding company that buys and holds businesses indefinitely. We also discuss how CPC approaches acquisitions, management incentives, and organizational design to create enduring value across industries. We discuss: The evolution of CPC from a family chemicals business to a multi-company holding group Why long-term ownership outperforms short-term investing strategies How to build companies around customer intimacy and employee satisfaction The “five key battles” CPC uses to evaluate and improve every business Lessons learned from buying, integrating, and supporting 14 companies over time Topics: (00:00:00) - Intro (00:03:12) - Running a CEO search (00:08:26) - The story behind CPC (00:23:39) - The importance of customer intimacy (00:37:02) - CPC's long-term vision and employee engagement (00:40:33) - Executive ownership and equity (00:41:29) - Structuring equity buyouts (00:42:58) - Valuation and liquidity rights (00:44:49) - Investment strategy and business acquisition (00:47:11) - Sourcing and evaluating business opportunities (00:50:14) - Onboarding and integration of new businesses (01:03:09) - Customer lifetime value and profitability (01:09:13) - Board meetings and CEO summits (01:14:36) - AI experiments and business impact (01:18:30) - Future vision and personal goals Support our Sponsors Ramp: ⁠https://ramp.com/fort⁠ Collateral Partners: ⁠https://collateral.com/fort⁠ Chris on Social Media: Chris on X: ⁠https://x.com/fortworthchris⁠ Instagram: ⁠https://www.instagram.com/thefortpodcast⁠ LinkedIn: ⁠https://bit.ly/45gIkFd⁠ Watch POWERS on YouTube: ⁠https://bit.ly/3oynxNX⁠ Visit our website: ⁠https://www.powerspod.com/⁠ Leave a review on Apple: ⁠https://bit.ly/45crFD0⁠ Leave a review on Spotify: ⁠https://bit.ly/3Krl9jO⁠  POWERS is produced by ⁠https://www.johnnypodcasts.com/⁠

Today’s guest is my good friend Jason Illian, Co-Founder @ Highmount Capital.  Jason returns to the show for a meaningful conversation about faith, fatherhood, leadership, and living with eternal purpose.  We explore how Jason integrates ministry into his home and family life, using sports as a vehicle to teach character and faith. He shares how he and his wife intentionally guide their children through social pressures, technology, and success, and how his approach to leadership, both at home and in business, is grounded in biblical truth. Together, we unpack what it means to lead a family, resist cultural distractions, and build a legacy that lasts beyond material success. We discuss: How Jason uses sports and family life as everyday ministry The challenges of parenting in a tech-saturated world Why true leadership requires being both prophet, priest, and king The cultural impact of Dude Perfect and the rise of faith-driven media How to shift from chasing empires to leaving lasting legacies Links: Dude Perfect Highmount Capital Jason on X Support our Sponsors: Collateral Partners: https://collateral.com/fort Vesto: https://www.vesto.com/fort Topics: (00:00:00) - Intro (00:03:07) - Balancing family and ministry (00:04:02) - Raising intentional kids (00:12:10) - The role of fathers in spiritual leadership (00:18:23) - Navigating technology and social media (00:39:38) - Dude Perfect's positive influence (00:43:17) - The revival of good content (00:44:43) - Fear and cultural moments (00:45:50) - The role of Christians in society (00:49:09) - Hope for the future (00:50:29) - Leaving a legacy vs. building an empire (00:51:07) - Making intentional choices (00:54:34) - The importance of accountability (01:02:21) - The eternal perspective (01:12:09) - The impact of truth and integrity (01:19:40) - Final thoughts and encouragement Chris on Social Media: Chris on X: https://x.com/fortworthchris Instagram: https://www.instagram.com/thepowerspodcast/   Watch POWERS on YouTube: https://bit.ly/3oynxNX Visit our website: https://www.powerspod.com/ Leave a review on Apple: https://bit.ly/45crFD0 Leave a review on Spotify: https://bit.ly/3Krl9jO POWERS is produced by https://www.johnnypodcasts.com/

Jamie Winship has decades of experience bringing peaceful solutions to some of the world’s highest conflict areas. After a distinguished career in law enforcement in the metro Washington D.C. area, Jamie earned an M.A. in English and developed a unique process of resolving inner conflict that results in the ability to lead and innovate from a position of authenticity and freedom. His unconventional efforts to bring about societal and racial reconciliation led him to Indonesia, Jordan, Iraq, Palestine, Israel, and back to the U.S.  We discuss: How to discover your true identity Separation and Connection world views Jamie’s experiences working in the Middle East Bringing terrorists to the US and converting them to Christianity ⁠We'd appreciate you filling out our audience survey, so we can continuously work on providing relevant content to our listeners.⁠  https://www.thefortpod.com/survey Links ⁠Jamie's website⁠ ⁠Living Fearless by Jamie Winship⁠ ⁠Identity Exchange⁠ ⁠Finding Hope in Depression⁠ Topics (00:00:00) - Intro (00:00:37) - Jamie’s background and upbringing (00:04:31) - Being recruited into the CIA (00:10:25) - What is identity? (00:14:14) - How can I discover my true identity? (00:26:14) - Separation vs. connection world views (00:34:23) - Jamie’s experiences working in the Middle East (00:51:37) - How to change the mentality of another person (01:05:12) - Bringing Palestinian terrorists to a Christian men’s retreat Chris on Social Media: X: ⁠https://bit.ly/3BYIjcH⁠ LinkedIn: ⁠https://bit.ly/45gIkFd⁠   Watch The POWERS on YouTube: ⁠https://www.youtube.com/@Powerspod Visit our website: ⁠https://bit.ly/43SOvys⁠ Leave a review on Apple: ⁠https://bit.ly/45crFD0⁠ Leave a review on Spotify: ⁠https://bit.ly/3Krl9jO⁠  This episode originally aired on February 20th, 2024 The FORT is produced by ⁠Johnny Podcasts

Today I’m I sitting down with Scott Arnoldy, Founder & CEO of Triten RE Partners, to explore his journey from the frothy real estate markets of the mid-2000s to building Triten into a multi-vertical investment and development firm with ~$2B in investment volume. We talk about the lessons he learned at Goldman and Stockbridge during the GFC, the early days of striking out on his own, and how he’s evolved from being a dealmaker to focusing on building a scalable business. Scott shares his perspective on industrial outdoor storage, multifamily opportunities, and why leadership and team building have become his greatest priorities. We discuss: How the leverage-driven deals of the mid-2000s shaped Scott’s risk mindset The transition from opportunistic projects to building a long-term business with structure and focus The evolution of Triten’s investment approach, from value-add office to iOS and multifamily Why storytelling and clarity matter as much as numbers when raising capital Perspectives on the current real estate cycle, market uncertainty, and where compelling opportunities exist today Links: Triten RE Partners - https://www.tritenre.com/ Scott on LinkedIn - https://www.linkedin.com/in/scottarnoldy/ Topics: (00:00:00) - Intro (00:04:35) - Scott's early career and real estate insights (00:13:04) - Navigating the 2008 financial crisis (00:19:27) - Starting a real estate firm: Challenges and lessons (00:30:41) - Building a successful real estate business (00:37:23) - Sheds and beds (00:38:53) - The role of investment committees (00:41:15) - Leveraging technology in real estate (00:46:24) - The importance of storytelling in deals (00:48:56) - The rise of industrial outdoor storage (iOS) (00:58:21) - Current real estate market analysis (01:01:33) - Looking ahead & future predictions Support our Sponsors Collateral Partners: https://collateral.com/fort Ramp: ⁠https://ramp.com/fort⁠ Chris on Social Media: Chris on X: https://x.com/fortworthchris Instagram: https://www.instagram.com/thefortpodcast LinkedIn: https://bit.ly/45gIkFd   Watch POWERS on YouTube: https://bit.ly/3oynxNX Visit our website: https://www.powerspod.com/ Leave a review on Apple: https://bit.ly/45crFD0 Leave a review on Spotify: https://bit.ly/3Krl9jO  POWERS is produced by https://www.johnnypodcasts.com/

In today’s episode, I sit down with Juniper Square Co-Founder & CEO Alex Robinson for a conversation on the seismic shifts reshaping private markets and the future of investing.  We dig into the impact of interest rate changes, the rise of retail investors, and why GPs face both opportunity and disruption in today’s environment. We also go deep on artificial intelligence, how it’s already transforming knowledge work, and the role it will play in redefining private market operations. Alex shares both a macro view of these changes and the mindset he’s using as a CEO to navigate them inside Juniper Square. We discuss: - How rising rates have affected private credit, real estate, and venture capital differently - Why retail investors will be a defining force in the next decade of private markets - The tension between becoming a mega-cap manager or staying a differentiated sharpshooter -Why liquidity is one of the hardest challenges to solve for private investors - How AI will fundamentally rewire every role inside a GP and beyond Links: Alex on LinkedIn - https://www.linkedin.com/in/alexrob22/ Juniper Square - https://www.junipersquare.com/ Topics: (00:00:00) - Intro (00:04:43) - The state of the private markets (00:16:35) - How Juniper Square is tackling LP Liquidity simplification (00:24:48) - The state of AI (00:34:27) - How AI will impact the typical GP (00:40:52) - Alex’s perspective on AI as a CEO (00:52:28) - Building JunieAI Support our Sponsors Collateral Partners: https://collateral.com/fort Ramp: ⁠https://ramp.com/fort Chris on Social Media: Chris on X: https://x.com/fortworthchris Instagram: https://www.instagram.com/thefortpodcast LinkedIn: https://bit.ly/45gIkFd   Watch POWERS on YouTube: https://bit.ly/3oynxNX Visit our website: https://www.powerspod.com/ Leave a review on Apple: https://bit.ly/45crFD0 Leave a review on Spotify: https://bit.ly/3Krl9jO  POWERS is produced by https://www.johnnypodcasts.com/

Alex Nyhan is the CEO of First Washington Realty and an owner in FWR's entities. FWR owns interests in and manages approximately $9 billion of top-quality grocery-anchored shopping centers across the United States. Alex is one of the sharpest minds in real estate and this episode is proof of that.  I’ve had the good fortune of learning from Alex for many years and is someone who always brings good insight.  We discuss: - Lessons from structuring complicated public-private development projects - The investment philosophy behind First Washington’s 22 million square feet of neighborhood retail - Why grocery-anchored shopping centers have proven so resilient - How demographics, education levels, and supply constraints shape long-term value - The role of relationships and human connection in both tenant selection and consumer experience Links: First Washington Realty - https://www.firstwash.com/ Alex on LinkedIn - http://linkedin.com/in/alex-nyhan-b2b4914/ Topics: (00:00:00) - Intro (00:04:02) - Alex’s background and early career (00:15:19) - Alex’s DC Convention Center Hotel project (00:23:32) - First Washington Realty overview (00:25:25) - Investment strategy and deal selection (00:29:21) - Focus on grocery-anchored shopping centers (00:31:05) - Case study: Kansas City suburbs (00:32:04) - Navigating supply constraints (00:32:34) - The resilience of retail in the e-commerce era (00:33:20) - The impact of e-commerce on malls and neighborhood centers (00:35:11) - The competitive landscape of retail investments (00:39:05) - Risk management in retail deals during COVID (00:41:38) - The value of tenant relationships in retail (00:44:49) - Balancing risk with mom and pop tenants (00:50:14) - The importance of education and demographics in retail (00:52:51) - Government intervention and retail development (00:57:04) - Consumer spending trends and market dynamics (01:02:10) - The role of human interaction in retail success (01:04:21) - Concluding thoughts on retail investment strategies Support our Sponsors Ramp: https://ramp.com/fort Collateral Partners: https://collateral.com/fort Chris on Social Media: Chris on X: https://x.com/fortworthchris Instagram: https://www.instagram.com/thefortpodcast LinkedIn: https://bit.ly/45gIkFd Watch POWERS on YouTube: https://bit.ly/3oynxNX Visit our website: https://www.powerspod.com/ Leave a review on Apple: https://bit.ly/45crFD0 Leave a review on Spotify: https://bit.ly/3Krl9jO  POWERS is produced by https://www.johnnypodcasts.com/

My Co-Founder, Jason Baxter, joins me once again to discuss the growth at FOSTR and how our team is thinking about the future of AI inside companies. Since our last conversation, Jason has sharpened his perspective on where the real value lies for businesses—moving beyond surface-level AI use cases to building the infrastructure that allows organizations to actually compound knowledge over time. We dig into how FOSTR is solving the data problem, why knowledge graphs are critical, and what it means for the next wave of AI adoption in business. We discuss: Why messy data is the biggest barrier for companies adopting AI The role of knowledge graphs in creating context and compounding company knowledge Why CEOs need to think about AI as infrastructure, not just a tool What’s next for FOSTR as it rolls out to more companies Topics: (00:00:00) - Intro (00:03:52) - How FOSTR has evolved since the last time Jason was on the show (00:10:02) - FOSTR’s infrastructure stack (00:21:51) - The importance of clean data (00:28:03) - FOSTR’s Knowledge graph (00:44:00) - How FOSTR would work in a Real Estate Brokerage firm (00:49:34) - Who owns the data? (00:57:34) - What’s coming from FOSTR in the next 45-60 days Links: Request early access to FOSTR - https://fostrai.com/ Reach out to [email protected] for notifications on the Slack Community Launch Chris on Social Media: Chris on X: https://x.com/fortworthchris Instagram: https://www.instagram.com/thepowerspodcast/   Watch POWERS on YouTube: https://bit.ly/3oynxNX Visit our website: https://www.powerspod.com/ Leave a review on Apple: https://bit.ly/45crFD0 Leave a review on Spotify: https://bit.ly/3Krl9jO POWERS is produced by https://www.johnnypodcasts.com/

Chad Lavender is the President of Capital Markets - North America @ Newmark. In this episode we talk about his journey through commercial real estate, from starting out in development during the 2008 financial crisis to building one of the leading senior housing brokerage and advisory practices in the country. We cover how he navigated tough markets early in his career, the lessons he learned from cold calling legends of the industry, and the growth of alternative asset classes like senior housing, medical office, and data centers. Chad also shares his perspective on current real estate markets, from multifamily and industrial to the resurgence of office and the expansion of build-to-rent housing. We discuss: Starting in high-rise development in 2008 and learning through the downturn Building a senior housing brokerage business from scratch and winning early deals with Starwood and Carlisle Moving from ARA to HFF to Newmark and helping create the alternative assets platform How recruiting, persistence, and long-term relationships drive success in brokerage Current insights on data centers, senior housing, office recovery, build-to-rent, and industrial demand Links: Newmark - https://www.nmrk.com/ Chad on LinkedIn - https://www.linkedin.com/in/chad-lavender-03551bb/ Topics: (00:00:00) - Intro (00:04:22) - Chad’s career and background (00:06:39) - The rise of Alabama in real estate (00:09:24) - Breaking into the multifamily market (00:11:42) - Building a seniors housing brokerage team (00:20:13) - The evolution of senior housing (00:27:27) - Joining Newmark and leading alternative assets (00:34:35) - The power of passion and persistence (00:37:49) - Winning business (00:40:36) - Data centers and infrastructure (00:46:37) - The office market rebound (00:51:45) - Build-to-rent trends and challenges (00:57:46) - Capital markets and future outlook (01:05:04) - Final thoughts Support our Sponsors Ramp: https://ramp.com/fort Collateral Partners: https://collateral.com/fort Vesto: https://www.vesto.com/fort Chris on Social Media: Chris on X: https://x.com/fortworthchris Instagram: https://www.instagram.com/thepowerspodcast/   Watch POWERS on YouTube: https://bit.ly/3oynxNX Visit our website: https://www.powerspod.com/ Leave a review on Apple: https://bit.ly/45crFD0 Leave a review on Spotify: https://bit.ly/3Krl9jO   POWERS is produced by https://www.johnnypodcasts.com/

We welcome back Barrett Linburg to the podcast for a deep dive into the evolution of Opportunity Zones and also his firm, Savoy. Barrett shares how his focus on Opportunity Zone projects has shaped Savoy, why these tax-incentivized investments are so compelling for long-term real estate strategies, and how his team has expanded into property management, construction, and development. The discussion also highlights the transformation of Dallas neighborhoods, navigating legislation, and lessons learned from working with contractors and city partnerships. We discuss: How Barrett discovered opportunity zones and built a firm around them The redevelopment of Bishop Ridge in Dallas and the strategy behind choosing locations Key changes from Opportunity Zone 1.0 to 2.0 and what they mean for investors Building out complementary businesses in property management, renovations, and construction Combining opportunity zones with PFC structures to maximize returns and affordability Links Barrett on X - https://x.com/DallasAptGP Barrett on LinkedIn - https://www.linkedin.com/in/barrett-linburg-32070310/ Savoy Equity Partners - https://savoyequity.com/ Barrett’s first appearance on the show - https://youtu.be/6WkWK3BldgI Topics (00:00:00) - Intro (00:05:52) - Barrett's real estate journey (00:07:12) - Opportunity zones in practice (00:21:08) - Case study: Bishop Ridge (00:26:21) - Future of opportunity zones (00:34:51) - Understanding OZ tax benefits (00:35:16) - Clarifying misconceptions about OZ investments (00:36:55) - Step up in basis explained (00:38:46) - Investing in opportunity zone businesses (00:43:47) - Challenges with general contractors (00:48:42) - Expanding Savoy Equity Partners (00:58:31) - Navigating PFC and OZ deals (01:04:33) - Conclusion and contact information Support our Sponsors Ramp: https://ramp.com/fort Collateral Partners: https://collateral.com/fort Vesto: https://www.vesto.com/fort Chris on Social Media: Chris on X: https://x.com/fortworthchris Instagram: https://www.instagram.com/thefortpodcast LinkedIn: https://bit.ly/45gIkFd   Watch POWERS on YouTube: https://bit.ly/3oynxNX Visit our website: https://www.powerspod.com/ Leave a review on Apple: https://bit.ly/45crFD0 Leave a review on Spotify: https://bit.ly/3Krl9jO  POWERS is produced by https://www.johnnypodcasts.com/

Imran Khan is the Founder at Proem Asset Management. In this episode we explore the arc of his remarkable career—from his early days as one of Wall Street’s top-ranked analysts to leading global IPOs and eventually launching his own hedge fund.  We discuss: - Why gross margins are a critical indicator of fundamental shifts in a business - How he met Joe Tsai and helped lead Alibaba’s record-setting IPO - The vision Evan Spiegel had that made Snap a generational product - His criteria for identifying high-quality public companies and warning signs to avoid - How private market hype has skewed investor incentives—and why that might be changing Links: Proem Asset Management - https://www.proemasset.com/ Imran on LinkedIn - https://www.linkedin.com/in/dotkhan/ Imran on X - https://x.com/dottkhan Support our Sponsors: Ramp: https://ramp.com/fort Vesto: https://www.vesto.com/fort BetterPitch: https://bit.ly/42d9L0I Topics: (00:00:00) - Intro (00:03:17) - Becoming a great research analyst (00:06:44) - The difficulty in controlling gross margins (00:08:25) - How to research companies to invest in (00:12:53) - Are there similarities today in technology to the 2001 tech bubble? (00:17:11) - The state of AI investing (00:20:04) - The America/China AI race (00:23:26) - Imran’s experience with Alibaba (00:26:26) - The state of China’s inevitability (00:31:11) - Imran’s experience working at Snap (00:39:09) - Leaving Snap (00:40:26) - Imran’s fund structure (00:43:00) - Being drawn to bias (00:45:05) - Mercenaries vs. missionaries (00:47:07) - The market likes to fool the greatest number of people (00:50:18) - The pendulum of private and public market investing Chris on Social Media: The Fort Podcast on Twitter/X: https://x.com/theFORTpodcast Instagram: https://www.instagram.com/thefortpodcast LinkedIn: https://bit.ly/45gIkFd Watch The Fort on YouTube: https://bit.ly/3oynxNX Visit our website: https://bit.ly/43SOvys Leave a review on Apple: https://bit.ly/45crFD0 Leave a review on Spotify: https://bit.ly/3Krl9jO