Oliver Haarmann, Searchlight Capital
Buyouts’ Off-duty provides a snapshot of top investors, including a few details about what they do when not chasing deals.
Oliver Haarmann, founding partner of Searchlight Capital, is passionate about hockey. As a boy, he learned the sport in the suburbs of New York City. And as young man, he continued playing while studying at Harvard Business School, joining the HBS Blades.
In 2023, Haarmann fulfilled a lifelong dream by acquiring a minority stake in his favorite team, the New York Islanders. “My 10-year-old self would never believe my seats,” he told Buyouts.
Haarmann began his private equity career shortly after getting his MBA. In 1999, he joined KKR, helping to grow its European business from start-up to several hundred employees and four funds. He departed in 2010 as a senior partner.
His next venture was Searchlight, launched with Erol Uzumeri, ex-head of Ontario Teachers’ Pension Plan’s private equity group, and Eric Zinterhofer, a former senior partner at Apollo Global Management. The idea, Haarmann said, was to “apply large-cap skills to a mid-market, transatlantic strategy.” Today a $18 billion firm, Searchlight this year closed its fourth flagship at $3.5 billion.
Father to two teenage sons, Haarmann outside of work devotes time to chairing IntoUniversity, a charity that helps underprivileged urban youth gain access to after-school mentoring.
Where is your hometown?
Having lived in London for over 20 years, I love the city where my kids were born and raised. Where else can you see the world’s greatest art, have world-class culinary experiences and then enjoy an Arsenal match at your favorite pub?
If you weren’t in PE, what job would you like to have?
As a kid, I dreamed of becoming a pro ice hockey player, but as an adult, I quickly realized that I’m better serving on boards than getting slammed into the boards.
What childhood dream have you realized?
It’s a dream come true to be an owner of the New York Islanders, the team I grew up rooting for as a young hockey fan and aspiring player. My 10-year-old self would never believe my seats!
How do you relax when you’re not working?
Skiing anywhere, anytime with my best ski buddies. But as every skier knows: there are no real friends on powder days.
What book are you reading right now?
I’m in the grips of The Wide Wide Sea by Hampton Sides, which chronicles Captain Cook’s final journey in 1776-79 in vivid fashion.
What is your favorite song, album, performer or music genre?
I’m a huge Wilco fan, which I have seen live every year for the past 12 years with the same five friends. Jeff Tweedy would love our group chat.
What is your favorite place for a vacation, sanctuary or to explore?
A recent trip to Japan with my youngest son upon his graduation from college. We skied in Hokkaido, where the powder was more than 10 feet deep when we landed. One of the best days of my life.
What is your favorite meal, recipe, cocktail or bottle of wine?
Omakase – there is just something thrilling about leaving your culinary fate in the hands of a master chef.
Who in your career do you regard as a mentor?
I had the privilege of working for Henry Kravis and George Roberts while KKR was still a small firm. They instilled in me guiding principles that I continue to benefit from every day. When making big decisions, Henry told me, “Always look forward, never look back.” He was right.
Professionally, what was your toughest moment?
Sitting alone in my home office refining the Searchlight pitch deck for our first prospective investor meeting in 2010, after leaving a senior role at KKR with all the security and status that confers. Taking an entrepreneurial leap was very daunting, yet starting Searchlight with my talented co-founders has been deeply rewarding in ways I never expected.
What was your most rewarding moment?
Closing on Searchlight Fund I, which meant that we could pay the rent and keep the lights on!
What PE buzz words or jargon do you hate most?
Accretive is a weird word.
What advice would you give a young person interested in a PE career?
Learn to listen and you will always have an advantage. Everyone talks in our business, but not many really listen to what others are saying.
What word or phrase best describes you?
I like to think of myself as an optimist. As Churchill said: “A positive attitude is a little thing that makes a big difference.”