The Private Equity Podcast, by Raw Selection
Hosted by Alex Rawlings, Managing Partner of Raw Selection, a specialist executive search firm. Join us as we interview the leading experts in Private Equity, unlocking their secrets of success to share with you.
Discover how some of the top Private Equity professionals got into Private Equity, how they rose to success and learn about some of the mistakes they made along the way.
Alex has strong connections to the Private Equity industry through his executive search firm, Raw Selection, which specialises in working with Private Equity firms and their portfolio companies across Europe and North America. Alex is straight talking and to the point and aims to unlock real gold you can build into your firm or portfolio companies. Find out more at www.raw-selection.com
The Private Equity Podcast, by Raw Selection
Building a $2.3 billion-dollar business from the ground up with Jeff Zwiefel
In this episode, Alex speaks with Jeff Zwiefel, former President & COO of Life Time, about scaling the business from $139M to $2.3B in revenue and navigating multiple private equity exits and IPOs. Jeff shares how a people-first culture and rigorous training enabled long-term, sustainable growth in a competitive industry.
Jeff discusses why private equity firms often miss the mark by focusing only on KPIs and financials, instead of investing in leadership, culture, and succession. He explains Life Time’s unique "casting" approach to hiring, their internal university for training, and the importance of empowering GMs as mini-CEOs of their locations.
The conversation also covers trends in the health and wellness sector, the rise of personalized longevity services, and how private equity can unlock new value in this rapidly evolving space.
🕰️ Timestamps:
00:00 – Jeff Zwiefel’s background & journey at Life Time
01:53 – The biggest mistake PE firms make
03:21 – Why people, culture, and purpose drive success
06:15 – How to assess leadership in health and fitness businesses
08:13 – “Casting,” not hiring: Building the right team
09:38 – Lifetime University & Navy SEAL-style GM training
11:34 – Accountability, culture, and performance awards
13:29 – The GM certification process & promotion pipeline
17:20 – Investing in employees for long-term loyalty
19:18 – Dashboards & career growth planning
20:48 – Leadership by example: From towel folding to training
22:43 – Core traits Jeff looks for in leaders
24:09 – The 8 leadership attributes at Life Time
25:36 – How ownership mindset and equity drives behavior
28:29 – Interview strategies for soft skills and leadership potential
32:18 – Measuring success through team development and turnover
34:15 – Auditing the customer experience as a PE firm
35:14 – Lessons from COVID: Digital experience & pricing
39:07 – PE deal activity in health & fitness
41:06 – Jeff’s new venture: Miura Performance & Longevity
43:55 – Practical health advice for busy professionals
46:20 – Supplements, red light, cold plunge, and more
47:50 – Opportunity for PE in bundling wellness services
48:17 – How to contact Jeff
📌 Key Takeaways:
- PE must look beyond financials to people and leadership.
- High performance culture starts with casting, training, and accountability.
- Wellness and longevity are emerging as investable and scalable PE categories.
- Personalized health solutions offer huge market potential.
📨 Connect with Jeff Zwiefel:
🔗 LinkedIn
🌐 jzweifel.com
Raw Selection partners with Private Equity firms and their portfolio companies to secure exceptional executive talent.
We focus on de-risking executive recruitment through meticulous search and selection processes, ensuring top-tier performance and long-term success.
🔗 Connect with Alex Rawlings on LinkedIn: https://www.linkedin.com/in/alexrawlings/
🌐 Visit Raw Selection: www.raw-selection.com