In this episode, Paul sits down with Matt Murphy, CEO of CareGivers of America and a four‑time private‑equity–backed CEO, for a powerful conversation about leadership, purpose, and the human side of scaling a mission‑driven organization.
Home health care isn’t a typical private equity play. It’s not tied to interest‑rate cycles or market swings. It’s a heart business — one built on dignity, trust, and human connection. Matt brings a rare blend of operational discipline and mission‑centered leadership to a sector where the stakes are deeply personal.
Together, Paul and Matt explore what it means to lead in a purpose‑driven industry, how to navigate the natural tension between quality of care and operational performance, and what it takes to integrate 10 companies into one unified mission.
Matt also shares a formative leadership lesson from his time as a Naval Officer — a story about mistakes, accountability, and communication that continues to shape how he works with boards today.

In this episode, Todd Platt, CEO of Hillwood Investment Properties, shares more about Hillwood's vision and strategy, his leadership style, lessons learned, commitment to service, and excitement for the future. Todd leads the firm’s investment strategy, capital procurement, and overall operations. Hillwood’s success is rooted in its long-term ownership mindset, deep capital resources, vertical integration, and relentless focus on customer service. That’s why they’ve become the go-to development partner for global leaders like Amazon, Walmart, Target, FedEx, UPS, and Home Depot.

Todd’s impact goes far beyond real estate. He’s a passionate advocate for brain health, a longtime supporter of the Center for BrainHealth in Dallas, and a recipient of their Legacy Award. He and his wife Laurie are known for their generosity and belief in lifting others, whether through mentorship, philanthropy, or quiet leadership.

In this episode, Paul Olschwanger and Dan Meader unpack the core elements of Trinity Investors’ dealmaking philosophy—from sourcing and structuring to post-close support. They explore how relationships, transparency, and strategic alignment shape every investment, whether in private equity or private real estate. Along the way, they define key terms like IRR, preferred return, capital stack, and major decision rights—giving listeners a shared language for future episodes.

[00:00:00] Introduction and Reminder of Why behind the podcast
[00:01:15] Glossary Segment featuring EBTDA, Preferred Return, Waterfall Structure, and Capital Stack (i.e. Pancakes)
[00:7:00] Transition to main conversation
[00:8:55] Deal Sourcing, Due Diligence, Management team, Profit margins, Size, Partners, and Price
[00:12:50] Assessing Affiliated Partners
[00:14:25] Performance and how to measure starting with IRR
[00:15:55] Cash-on-cash (dollar-based return)
[00:17:12] Cap Rates defined
[00:19:30] Fee structures - know the differences and at what level (deal vs investor)
[00:22:22] Governance at board, management, and employee level
[00:24:16] Carried Interest - percentage of profits upon disposition of business, performance-driven
[00:26:07] Final thoughts on why understanding terms makes a difference with sourcing, underwriting, structuring, and communication with investors
[00:28:12] Wrap-up and thinking about future episodes