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M25Othervalue creation attribution

Do Search Fund CEOs Improve Performance?

A. J. Wasserstein (interview). (2026)

Yale Insights, "Three Questions" department, April 30, 2026

Short Q and A summarising the value-attribution note for a general audience; the page credits the analysis to Wasserstein and accounting scholar Jacob Thomas. States "enterprise value grew from approximately $1 billion to $4 billion, with roughly 80% of that increase attributable to EBITDA multiple expansion", "EBITDA multiples rose from 6.3x at entry to 15.6x at exit, on average" and "EBITDA margins decline from 25% at entry to 19% at exit". It does not give the sample size or exclusions; take those from the case note.

Source

Full citation

A. J. Wasserstein (interview). (2026). Do Search Fund CEOs Improve Performance? Yale Insights, "Three Questions" department, April 30, 2026.

https://insights.som.yale.edu/insights/do-search-fund-ceos-improve-performance

This page describes a work published elsewhere. The summary, where present, states what the authors claim; it is not the school's position. Read the source before quoting a figure.