M&A Roll-Up Playbook: The IRR Framework That Replaced Budgets at Zayo | Dan Caruso (Part 2)

Podcast: M&A Science · Kison Patel

Opublikowano: 2026-04-09

Dan Caruso, Managing Director, Caruso Ventures; Founding CEO of Zayo Group Zayo never had budgets. For 14 years, Dan Caruso ran the company on a question most management teams can't answer: how much value did we actually create this quarter? In Part 2, Dan explains his equity value creation model. He takes the math PE firms use to value portfolio companies, adjusts for debt and new capital, and tracks the result as a live IRR. That number replaced negotiated budgets and drove bonuses and promotions. It compounded value at roughly 40% a year, taking Zayo from $1 billion to $8.5...