You've probably heard that the three most important things in private equity investing are management, management and management. More specifically, Investors are typically looking for three things in management: Experience in building a business, experience in the industry (or with the product) and strong character. What comprises the latter? Investors look for managers who demonstrate high energy or passion, resourcefulness, integrity, perseverance, risk-taking ability and mental horsepower. Also, a frequently overlooked quality is that of humility -- for example, sometimes founders may need to step aside and let someone with more experience lead the company.