The $600M Bet on Independent Sponsors
Grant Kornman co-founded NCK Capital as an independent sponsor in 2013, then moved to the capital side with Align Collaborate in 2023. Align now manages $600m+ across 2 dedicated funds and writes $10-40m equity checks into sponsor-led LMM deals. Grant has watched the independent sponsor market evolve from both sides.
More recent episodes
The Doctor & The Finance Bro
Dr. Lisa Piercey’s path spans pediatric medicine, hospital leadership, Tennessee Health Commissioner and now independent sponsor nearing her fifth healthcare platform. Her edge: deep operating and policy expertise across reimbursement, Medicaid, aging and value-based care.
$2M to Start as an IndependentSponsor
Drew Bagin and his partner raised $2m in GP seed capital before their first independent sponsor deal. Five platforms later, their New England focus has created a differentiated sourcing and value-creation network, with a fire protection platform nearing exit.
Behind The Scenes: Our Unique Angle In An Increasingly Crowded Space
The 3 founding partners mark the 75th episode with a behind-the-scenes look at their strategy, discussing rollup frequency, first-time sponsor pitfalls, AI in underwriting and capital supply-demand imbalances across the independent sponsor ecosystem.