Q: Damien, let’s start with your journey. It’s been quite remarkable. How would you describe it in your own words?
A: My journey has been one of growth, learning, and a deep commitment to impact. It started at Georgetown, and my early professional life was shaped at Salomon Brothers and later Goldman Sachs. I was fortunate to work under exceptional leaders and colleagues who challenged me to push boundaries. Over time, I took calculated risks, such as co-founding Brightwood and later establishing Lafayette Square. These experiences taught me the importance of rigor, continuous learning, and investing in people.
Q: You mentioned taking risks, such as founding Brightwood and Lafayette Square. What inspired those moves?
A: I saw an opportunity to address critical gaps in the credit space. At Brightwood, we focused on investing in and supporting middle-market businesses, which form the backbone of our economy. Lafayette Square took that mission further by directly addressing the needs of working-class people and places. I’ve always believed in aligning capital with purpose and showing that you can achieve both social impact and strong returns.
Q: Speaking of middle-market businesses, why are they so important to the economy?
A: They are absolutely essential. There are 50 million workers in businesses with less than $1 billion in revenue, representing a third of the U.S. economy. However, many of these workers live paycheck to paycheck, with little access to healthcare or retirement benefits. By addressing these issues, middle-market businesses can reduce turnover, enhance productivity, and contribute meaningfully to the economy. Our mission at Lafayette Square is to create sustainable solutions for these businesses and their workers.
Q: At Lafayette Square, you emphasize the importance of investing in working-class people. Can you elaborate on this approach?
A: Our focus is threefold: providing long-term, low-cost capital to businesses, offering services that improve workers' lives, and leveraging technology to track progress and measure impact. By doing this, we aim to create a virtuous cycle where businesses thrive, workers benefit, and investors see strong returns. For example, we’ve tied our financing terms to outcomes like job creation, healthcare adoption, and investment in working-class places. This approach ensures alignment across stakeholders.
Q: Leadership and accountability are central to your philosophy. How do you define success as a leader?
A: Success starts with clarity—setting clear, measurable goals and holding yourself and your team accountable to them.
For me, it’s about keeping the main thing the main thing. That means staying laser-focused on our mission of creating 100,000 working-class jobs, investing 50% of our capital in working-class places, and ensuring half of our portfolio companies adopt impactful services. Mistakes happen, but surfacing them, learning from them, and staying committed to the mission is what drives progress.
Q: That level of focus is impressive. But does it leave room for innovation or adjusting to new opportunities?
A: Absolutely, but innovation must serve the mission. If a new idea doesn’t advance our goals, it’s not prioritized. Clarity and discipline don’t limit creativity—they channel it. For example, when we recognized the need for robust technology to measure impact, we invested in building that capability in-house. It was a new challenge, but it aligned perfectly with our objectives.
Q: You’ve been deeply involved in philanthropy and mentoring. How do you balance these commitments with your professional responsibilities?
A: Mentorship and giving back are non-negotiable for me. I’ve been fortunate to have incredible mentors who invested in me, and I’m committed to paying that forward. Whether it’s a phone call, a meeting, or just offering guidance, I make time.
It’s not about having secrets to success—it’s about creating opportunities for others to learn and grow.
My loved ones understand and support this commitment, which makes all the difference.
Q: What fuels your optimism, especially during challenging times?
A: My optimism comes from a deep belief in the resilience and potential of people. Challenges like economic inequality and systemic gaps are significant, but they also present opportunities to innovate and lead. I’m energized by the next generation of leaders and the incredible potential they have to drive meaningful change. We’re at a pivotal moment, and I’m hopeful about what we can achieve together.
Q: Damien, your journey is truly inspiring. Any final thoughts for our audience?
A: My final thought is this: Be excellent at what you do. Excellence is non-negotiable. It’s the foundation for earning trust, driving impact, and creating lasting change.
Stay focused, invest in others, and always keep the main thing the main thing. Together, we can achieve extraordinary results.
