The operating partner is one of the most valuable and most misunderstood roles in private equity. Hiring one well starts with clarity about what you want them to do. Here is how to approach it.
What an operating partner does
An operating partner works across a private equity firm's portfolio, bringing deep functional or sector expertise to help shape value-creation plans, support and challenge management teams, and step in on specific problems. They create value through influence and expertise rather than direct line authority — a distinctive skill in itself.
Define the value they add
Operating partners vary widely — generalists who partner broadly with CEOs, functional specialists (commercial, operations, finance, digital), and sector experts. The first step is defining what value this operating partner is meant to add across the portfolio, and against which businesses and plans. A mis-scoped operating-partner hire adds cost without impact.
The profile that delivers
The best operating partners pair genuine operating expertise with the temperament to advise and challenge without taking over — to make management teams better rather than doing their jobs for them. Credibility with CEOs, the deal team, and the firm's leadership is essential, as is a track record of value creation in comparable situations.
How the search works
A retained search defines the specific value-creation remit and finds operators who can deliver it through influence across the portfolio.
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Explore Operating Partner Search →Frequently asked questions
What does a private equity operating partner do?
They bring functional or sector expertise across a firm's portfolio — shaping value-creation plans, supporting management teams, and stepping in on challenges — creating value through influence, not line authority.
What makes a great operating partner hire?
Operating expertise paired with the temperament to advise and challenge without taking over, credibility with CEOs and the firm, and a track record of value creation in comparable situations.
Related: Operating Partner vs Portfolio CEO · Operating Partner Executive Search · What Does a Board Director Do?
