PE firms are expert at identifying value. They're less consistent at building the people infrastructure that captures it. A newly acquired portfolio company with a brilliant CEO, a strong product, and broken HR systems is a common story. The HR function that worked at $20M ARR does not work at $80M ARR under PE ownership.
The gaps show up fast: payroll errors that erode trust before culture has a chance to form. Undefined roles that make it impossible to hold anyone accountable. A management team with no shared language for how leadership is supposed to work. Compliance exposure across states the company just expanded into. A CEO who's spent her entire career as an industry expert and is navigating board dynamics for the first time.
These aren't talent problems. They're infrastructure problems. And infrastructure problems have infrastructure solutions — if you bring in someone who's operated inside the environment before.