Well, we made it to Friday … whew.
Since it’s Friday, we’ll keep it a little lighter today with reader responses. It’s been such a heavy week, it’ll be good to take a breather.
But first, we have another private equity firm looking out for its portfolio company employees. Yesterday we revealed that partners at Leonard Green are contributing to a $10 million employee-assistance fund to help portfolio company workers adversely impacted by the coronavirus outbreak.
Today, we have news that emerging manager MiddleGround Capital will pay leave for any of its around 3,000 portfolio company employees who test positive for covid-19 or the flu, until they are cleared by a doctor. This is independent of any sick leave policies at the portfolio companies, MiddleGround co-founder John Stewart tells me.
The firm also directed its five portfolio companies to contact health facilities to identify procedures for those who suspect they are infected, and to pay for testing for those workers.
“It is hard enough to make ends meet on $15/hour or less, let alone being laid off and collecting unemployment,” Stewart told me. “We value our employees more than that. The employees are the company. I feel very strongly about this since I started my career as an hourly employee.”
Read my story here. And keep these coming … I want to hear about other ways firms are helping portfolio company employees. Reach me at email@example.com.
Modernization: Sarah Pringle did a great interview with Andrew Adams, co-founder of Oak HC/FT, on the rise and need of the development of telemedicine. Check it out here on PE Hub. Here’s a taste:
Learning from the coronavirus is sure to have a long-term impact on the healthcare industry – acting in many ways as a watershed event, he explained. If you’re a healthcare provider without virtual or tele-health tools, the question will be: “If you don’t have a solution like this, why not?”
“Even though there are times where hospitals are maligned, they are going to be a huge part of the solution here,” Adams said. “Once we are through this – which we will be – it’s an opportunity for hospitals to improve their efficiency and responsiveness.”
Within tele-health, one particular segment seeing high demand in the wake of coronavirus is behavioral health, he said. Oak HC/FT is already seeing this being reflected across three of its portfolio companies: Emilio Health, US Healthvest, Therapy Brands and Quartet Health.
“We’re all impacted by this in the country and world. It’s affecting the way we work and live, and it’s affecting family dynamics. Clearly, mental health is thrust more into the forefront,” he said.
You all came through with some thoughts on de-stressing techniques. Thanks so much for sharing your thoughts, Dear Readers! Lots of recommendations about meditation, something I’ve never tried before. Check out some of the strategies below:
Chase: Life is change, and if we aren’t continually growing, we are dying.
Humans generally aren’t great with change, and what we’re seeing right now is massive upheaval. Change in how we work, how we see investment opportunities and capital raising, and if we truly take advantage of this time with proper introspection, maybe even in how we view our lives.
The trick in this environment is to remember this: we become what we think about. It’s that simple.
So, what do you think about? And more importantly, what do you want to think about? Conscious and disciplined awareness (not just casual observation) of your thoughts, throughout the day, is the key to harnessing an unruly mind. Studies have shown that 95% of what we ruminate on are simply repeats of the same thoughts.
And that’s obviously not healthy.
If we want to master the “output”- the current condition of our lives- we must absolutely take control of the software (our minds).
Will: Meditation — 10 minutes in the morning can really set the tone for the rest of the day. You’re much more in control of your emotional reactions, and it helps you to think more clearly.
Peter: As a 20+ year M&A banker, turned executive and leadership coach for the past 10 years, I am always making recommendations and challenging my clients – most of whom are senior Wall Street M&A and boutique bankers and PE senior professionals – to incorporate de-stressing practices into their routines.
My #1 go-to challenge is always to take up a meditation practice. A good read to get started is Dan Harris’ “10% Happier.” Or look into apps such as Insight Timer, Headspace or AmbiSci100P.
Please keep your head and lead with your heart!
Brad: You’ve probably heard of this but Headspace is a great meditation app, and they have specific sessions to help deal with anxiety and stress (probably getting more use in recent days!). I agree though that the best de-stresser is spending time with your daughters (I have two myself). Hope this helps and that you are well.
Lindsay: I build banjos. QuailCreekBanjos.com. You should look into it, ha.
Stay safe and healthy, Hubsters! Have a great weekend! Reach me with your thoughts, tips, gossip, whatever at firstname.lastname@example.org, on Twitter or find me onLinkedIn.