Listen to VetSuccess: Opportunity in Private Equity

VetSuccess: Opportunity in Private Equity — Adding Value for Portfolio Companies through Veteran Hiring

October 15, 2025 — 1:00 PM

Moderator: Ben Biles (CEO & Co‑founder, American Veterans Group) 

Panelists:

Matt Forester (Assistant Vice President, Nuveen — Real Estate New Business)

Steven Stewart (Manager, Talent Acquisition, QTS Data Centers — Blackstone portfolio company)

Kim Garner (Career Specialist, VetJobs)

Ben Biles: Thanks everyone for coming today. Welcome to VetSuccess — the latest installment of American Veterans Group’s VetSuccess Virtual Conference series. Our mission is to make a difference for veterans transitioning to civilian careers. This series brings together leaders across industries to share best practices for veteran employment and career success.

A few housekeeping notes: if you need help with the conference platform, please reach out to Kelly Volpe in the chat or by email at kelly@boldsquare.com.

We’ll hear from the panel for about 30 minutes and then open the floor to questions. Please drop questions in the chat.

Ben Biles: I’ll introduce our panelists. First, Matt Forester from Nuveen. Matt previously spent three years at KKR covering real estate products. He’s an active supporter of the veteran community, leads Nuveen’s New York Veterans ERG, and previously co‑led the National Veterans Platform at KKR. Matt focuses on creating veteran platforms through career workshops, community engagement, and hiring initiatives.

Next, Steven Stewart, Manager of Talent Acquisition at QTS Data Centers, a Blackstone portfolio company that has a ~20% veteran workforce. Steven brings extensive talent acquisition and staffing experience and has helped scale veteran hiring at QTS.

Finally, Kim Garner from VetJobs. Kim is a career specialist with 15+ years helping veterans and spouses transition into civilian careers. As a former active‑duty Army spouse, she brings firsthand insight into translation of military experience, employment gaps, and relocations. Kim specializes in resume coaching, skills translation, and career momentum for veterans and spouses.

Ben Biles: Matt, through your leadership at KKR and Nuveen, how can private equity firms make veteran hiring a long‑term driver rather than a short‑term initiative?

Matt Forester: Veterans bring operational excellence, process discipline, leadership, cross‑collaboration, adaptability, loyalty, and reliability. They can be thrown into new situations and overcome obstacles. Veterans often fall into two buckets: those entering their first civilian role (who may need time to acclimate but often become high performers and get promoted faster) and more experienced veterans who bring immediate value. To make veteran hiring a long‑term driver, firms should recognize and structure roles to tap those strengths and create career pathways that allow veterans to advance.

Ben Biles: Steven, how has Blackstone added value at the portfolio level to scale veteran hiring, and what have you seen at QTS?

Steven Stewart: Over the past four years QTS has scaled rapidly, and Blackstone has helped by providing resources: technology, process improvements, personnel, and investment in dedicated recruitment roles. We hired a former military recruiter who understands MOS/roles across branches and can map those to our business needs. That expertise helps us place talent where they’ll succeed. Programs like Skillbridge, Hiring Our Heroes, and others — when paired with internal TA resources — have helped scale our veteran hiring.

Ben Biles: Kim, what role do external partnerships (VetJobs, DoD Skillbridge, Hiring Our Heroes, etc.) play in scaling veteran hiring across companies?

Kim Garner: These partnerships are essential. DoD Skillbridge lets a transitioning service member spend six months in a company (paid by the DoD) to build a pipeline and assess fit — it’s no cost to the company. Hire Our Heroes brings veterans and spouses together and partners with organizations to connect talent to employers. VetJobs maintains a large qualified pipeline and helps candidates get resume‑ready and placed in roles that fit their skills. These relationships are win‑win: employers get pre‑vetted, prepared candidates; veterans get opportunities and support.

Ben Biles: Matt, what initiatives have you found most effective at deepening engagement among veterans and allies?

Matt Forester: Curated events that let veterans and allies collaborate informally help build connection and shared experiences. Outgoing communications around Veterans Day and Memorial Day demystify transition challenges. Volunteer events and team activities (wreath ceremonies, charity runs, Tough Mudder) build teamwork and translate back into workplace collaboration. Career development workshops and community engagement — plus informal social events — build a tight‑knit support network.

Ben Biles: Steven, what lessons can portfolio companies learn to build repeatable, scalable veteran hiring processes while being PE‑backed?

Steven Stewart: Start by staying close to your core deliverables and hiring needs. Military organizations are large and contain varied roles (procurement, supply chain, HR, legal, etc.). Translate civilian roles to adjacent military MOS/ratings rather than assuming a one‑to‑one title match. Target specific MOS/job codes and use federally funded programs (Skillbridge, Hiring Our Heroes, MSEP for spouses) to offset training/ramp costs and reduce attrition risk. Be mindful of over‑concentration (groupthink) when hiring heavily from one community; preserve diversity of thought.

Ben Biles: How do you select reliable partners and separate signal from noise?

Steven Stewart: Define ROI and hiring goals first. Not every organization with “vet” in the name is the right partner. Evaluate whether a partner provides cost‑effective access to talent and aligns with the specific skill sets you need. Federally funded programs often offer high value; for‑profit recruiters can be costly without added benefit. Stay disciplined to hire for business needs.

Ben Biles: Kim, how does integrating veteran hiring into a PE firm’s human capital strategy create competitive advantage?

Kim Garner: Veterans are action‑driven, accountable, results‑focused, mission‑oriented, and ready to perform. These traits boost leadership and workforce performance at portfolio companies. VetJobs can help match veterans and spouses to roles and ensure cultural and skills fit. Employers should view veteran hiring as a strategic asset that strengthens execution and leadership pipelines.

Ben Biles: Matt & Steven, how can PE firms support both senior leadership and entry‑level hiring needs through veteran hiring?

Steven Stewart: Leverage programs and partnerships for senior and mid‑level roles (e.g., SODIF, leadership development partners). Veterans with 8–20 years’ service often have strong leadership skills and toolboxes; leadership development programs (e.g., QTS’s Quality Leadership Development Program — QLDP) can bridge gaps and accelerate promotion into senior roles. For entry level, use structured rotational and development programs to build future leaders.

Matt Forester: Private equity firms can build early‑career opportunities (internships, MBA internships, entry tracks) tailored to veterans using GI Bill pathways and educational timelines. At KKR, we institutionalized a standardized process across portfolio companies — monthly/quarterly calls to share best practices, screen candidates appropriately, and craft veterans‑friendly job descriptions that translate military experience into civilian job requirements.

Ben Biles: Kim, what makes a great employer partner from VetJobs’ perspective?

Kim Garner: Proactive employers who post jobs to recruiter connect, give timely feedback, and engage candidates win. Candidates remember companies that follow up even when they aren’t hired immediately. VetJobs provides job‑posting services for free and has a large pipeline; employers who communicate and provide feedback get better candidate engagement and retention.

Audience Question: “We’ve hired a few veterans before but they didn’t stay long. Any tips on retention?”

Kim Garner: Retention depends on role fit and onboarding. Veterans may miss the tightly knit unit (“battle buddies”) and can feel isolated. Good orientation, training, and mentorship are essential. Invest in onboarding and show the veteran how to grow within the company.

Steven Stewart: Camaraderie and mentorship matter. Build veteran networks, coaching, and talent development plans. Demonstrate investment in their future and provide clear growth pathways.

Matt Forester: Employee resource groups and veteran‑ally events help build community. Combine on‑the‑job training, career development, and social connectivity to support retention.

Ben Biles: Practical advice for portfolio companies beginning veteran hiring?

Steven Stewart: Identify who you hire today and map the closest adjacent military skill sets. Use multiple sourcing channels: federal programs, military job boards, targeted social groups (Facebook, Reddit) and direct recruiting. For us, hiring Navy nuclear technicians and Army prime power specialists — roles we hire consistently — allowed us to build long‑term pipelines via outreach at the point of enlistment/processing. Clarify the exact skills needed and map military job codes to those skills.

Ben Biles: How do you get business managers to buy in?

Steven Stewart: Focus on skills, not titles. Develop a shared taxonomy of required skills and work backwards to identify military job codes that provide those skills. Present concrete examples of where military experience maps to business needs and how skills‑based hiring can produce reliable hires.

Matt Forester: Create opportunities to demonstrate value — pilot hires, internships, and cross‑portfolio conversations to show outcomes and create formalized frameworks.

Ben Biles: Matt, what advice for PE professionals who want to make a difference from within their firms?

Matt Forester: Create entry points (internships, MBA roles) specifically for veterans, institutionalize cross‑portfolio sharing of best practices, and formalize pipelines between VetJobs (or similar partners) and portfolio companies. Start monthly/quarterly forums to surface needs and match veteran skill sets to portfolio company requirements.

Kim Garner: One thing I wish companies understood: veterans and spouses often already have training, certifications, and practical experience, but job descriptions may filter them out. Offer entry‑level or 0–1 year roles where companies are willing to invest in onboarding and growth. VetJobs provides free training partnerships (Cloud Academy, IBM SkillsBuild, Coursera) and mentoring via American Corporate Partners. Give veterans a chance — they’ll grow into bigger roles with support.

Audience Question (Veteran Resource Group leader at a bulge‑bracket bank): “I’ll meet with regional leadership next week. What message should I give about supporting veterans?”

Matt Forester: Give veterans an avenue to be heard. Let ERGs influence ideas and share best practices. Offer visibility and feedback channels so veterans feel seen and can propose initiatives.

Steven Stewart: Ask for their recommendations and intentionally solicit feedback. Military culture doesn’t always volunteer committee input — leaders must draw it out. Ensure their voices are included and acted upon.

Kim Garner: Sponsor volunteer events, partner with veteran nonprofits (Travis Manion Foundation, Call of Duty Endowment, Wreaths Across America), and engage recruiters with VetJobs’ recruiter connect. Volunteer sponsorships and mentoring can build internal allies and visibility.

Ben Biles (closing): Thank you to the panelists and attendees. We’ll send a recap, recording, and contact information (with permission). Let’s keep the conversation going.

Panelist Closing Remarks

Kim Garner: Thank you so much.

Steven Stewart: Thanks, folks.

Matt Forester: Thank you.

Ben Biles: Have a great rest of your Wednesday.