How Blue Marlin Partners Thrives in a Changing M&A Market with Peter Kirsch

Written by Matthew Connor | Sep 3, 2025 7:00:00 AM

Peter Kirsch is the Founder and CEO of Blue Marlin Partners, a differentiated private equity firm based in Bethesda, MD. Over the last eight years, he has built Blue Marlin into a platform that now oversees more than $800 million in deployed capital, 30 portfolio companies, and multiple award-winning exits. His model challenges the traditional private equity approach by eliminating management fees and partnership expenses while giving investors the ability to choose their own deals. Beyond the numbers, Kirsch has cultivated a powerful network of entrepreneurs and operators who not only invest but also own a piece of Blue Marlin itself. His career, including earlier leadership of a family office, has given him a unique vantage point into how private equity is shifting and why making businesses better is now the true measure of success.

Here’s a glimpse of what you’ll learn:

How Blue Marlin Partners disrupts traditional private equity structures
Why investor-operators are central to Blue Marlin’s success
The importance of focusing on making businesses better, not just financial engineering
How boutique private equity firms are gaining ground in a slow M&A market
Why proprietary, founder-led deals drive stronger long-term outcomes
The role of networks and geography in generating quality deal flow
How strategic exits create repeat opportunities with trusted partners

In this episode…

Peter Kirsch returns to the Cyber Business Podcast to share how Blue Marlin Partners has redefined private equity by placing entrepreneurs and operators at the center of every investment. He explains how eliminating fees and offering investor ownership in the firm’s carried interest allows for greater alignment, transparency, and long-term value creation.

Peter discusses how Blue Marlin successfully navigated a slower M&A market in 2023, securing multiple awards for its acquisition of Mobeta’s Hawaiian BBQ while also executing exits and strategic add-ons. His story highlights how boutique private equity firms are proving their ability to thrive when larger funds struggle, underscoring the importance of agility, strong partnerships, and targeted growth strategies.

The conversation also explores the transition in private equity from financial engineering to building better businesses. Peter emphasizes that true success comes from working alongside founders, rolling equity, and driving operational excellence, rather than relying on debt and multiple expansion. By cultivating a network of 72 high-profile partners and expanding globally, Blue Marlin continues to amplify its reach and influence in lower middle market opportunities.

Resources mentioned in this episode:

Matthew Connor on LinkedIn
CyberLynx
Peter Kirsch on LinkedIn
Blue Marlin Partners Website

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