Martín Escobari - Inside General Atlantic - [Invest Like the Best, EP.449]
Martín Escobari - Inside General Atlantic - [Invest Like the Best, EP.449]
Martín Escobari - Inside General Atlantic - [Invest Like the Best, EP.449]
In this episode, Martín Escobari, Co-President and Head of Global Growth Equity at General Atlantic, shares insights from a career shaped by global markets, technological shifts, and personal resilience. From his early days in Bolivia to leading one of the most influential growth equity firms, Martín offers a unique perspective on investing with purpose, patience, and long-term vision.
Martín Escobari discusses General Atlantic’s distinctive structure—permanent capital, a single P&L, and a partnership model—that enables patient, global investing. He highlights how the firm's long-term horizon allows it to capitalize on structural shifts, especially as U.S. equity premiums create compelling opportunities in international and emerging markets. Drawing from experiences through the dot-com bubble and AI boom, Martín emphasizes 'educated intuition'—balancing data with human insight—and the value of being prepared for rare, transformative moments he calls 'spearfishing.' He reflects on GA’s focus on value creation beyond returns, its sector-specific expertise, and the importance of leadership with moral conviction. With IPO activity recovering and private growth equities trading at significant discounts, Martín sees the current environment as the most attractive since 2009. He also underscores the role of mentorship, emotional intelligence, and personal history in shaping investment judgment, revealing how his upbringing and life experiences continue to inform his approach to business and leadership.
10:08
10:08
An $80 million investment in Brahma grew to over $60 billion
14:37
14:37
Submarino raised $80 million in three months and scaled to six countries in one year
15:20
15:20
General Atlantic is running 500 projects this year, a third of which are AI-related.
20:08
20:08
The purpose of wealth is to improve the human condition immediately.
23:06
23:06
Employees are large investors in the firm's products, aligning incentives through shared ownership
30:48
30:48
Diversification is the only 'free lunch' in finance
30:48
30:48
International markets offer more attractive earnings multiples than the U.S.
33:13
33:13
Chinese entrepreneurs' drive stems from overcoming Cultural Revolution hardships
35:28
35:28
Understanding someone's traumas allows deeper empathy and insight into their motivations
41:52
41:52
Heart in leadership can override gut and brain and is crucial for leading large organizations
43:55
43:55
In matters of the heart, one should forget the checklist.
45:15
45:15
Bill Ford called ten years after declining a startup pitch to try again.
46:23
46:23
Dave Hodgson stays sharp past 60 by refusing to think like an old man and always learning.
48:53
48:53
Profitable companies are fueling the AI capex wave, making it more sustainable than past bubbles.
54:55
54:55
GA specializes in 16 'Power Alleys' like AI applications, backed by 32 case studies to drive sector-specific expertise.
57:00
57:00
Non-US markets offer more 'low-hanging fruit' for young investors
59:45
59:45
Investment committees are open to all, enabling learning from proven investors.
1:04:14
1:04:14
The CEO must be a spear fisherman to capture lucky investment outcomes.
1:04:57
1:04:57
Growth equity valuations are at a 30-40% discount to public comps, similar to post-GFC levels.
1:08:36
1:08:36
Silence is a powerful way to start a conversation.
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