Alvarez & Marsal (A&M) announced the appointment of Zack Shah as a Private Equity Performance Improvement (PEPI) group Managing Director co-leading its Education and Edtech Advisory practice alongside Managing Director Vadim Tsysin. Mr. Shah’s hire extends the depth and breadth of PEPI’s education and edtech capability in response to private equity (PE) and strategic investor demand for capitalizing on accelerating deal activity in this dynamic market.
Nick Alvarez, Managing Director and National Practice Leader of A&M’s PEPI group, commented, “The education sector is undergoing dramatic transformation, and increasing demand for the differentiated service delivery and hands-on expertise that is A&M’s hallmark. Zack’s appointment underscores PEPI’s strategic talent investments that help add and create value for clients. His industry experience, insights and deep sector network fosters our mission to help clients enhance their assets, de-risk their investments, and prepare for successful exits.”
Shah brings more than 20 years of experience across investment banking, corporate development, operations, and consulting. He has advised on multiple diverse education sector transactions working with private equity funds, corporates, and founders on diligence, strategy, and execution. His experience spans the full learner lifecycle, from PreK-12 to postsecondary through workforce training. Shah’s extensive familiarity with edtech business models, regulatory dynamics, and growth strategies adds value for PE and corporates seeking performance improvements that yield a competitive edge for faster exits.
Jeff Shaffer, a Managing Director and M&A Services practice leader, noted, “Zack’s track record as a banker, operator, and advisor positions him to support clients at every stage of the investment cycle. Driving value is no longer a question of EBITDA and multiples alone. The market requires an actionable buy/build/sell better strategy that accommodates market complexities and shifting dynamics. Alongside Vadim, Zack brings the commercial and operational lens our clients rely on for navigating carve-outs, scaling platforms, or unlocking value in underperforming assets.”
“Our practice has been experiencing rapid growth," remarked Vadim Tsysin, co-lead, “and we are thrilled to welcome Zack to our team. His expertise represents a pivotal milestone in the ongoing evolution of our practice, further expanding our capabilities in this dynamic and ever-changing market.”
Prior to joining A&M, Shah founded the education technology and services practice at Lincoln International. He previously served as Head of Corporate Development and M&A at Adtalem Global Education, and as a Managing Director at Lazard, where he co-founded the education practice. His earlier roles include positions at BMO Capital Markets, Banc of America Securities, and Wells Fargo Securities. He began his career as a process safety improvement consultant with ExxonMobil, ConocoPhillips, and other global firms.
Shah said, “The education sector is in a dramatic transition with business models confronting profitability and sustainability pressures concurrent with AI disruption and adaptability challenges. A&M’s integrated platform offers the strategic vision and operational horsepower that investors need to drive better outcomes. The firm’s results driven mindset and bias towards action provides the ideal environment to help secure sustainable growth and profitability for clients.”
Shah earned an MPA from Harvard University with a focus on education policy and an MBA in accounting and analytic finance from the University of Chicago. He holds a Bachelor of Science with honors in chemical engineering from the University of Houston.