[1] Hersh is currently a member of the Council on Foreign Relations and the World Economic Forum, and is also on the boards of the National Association for Urban Debate Leagues (NAUDL) and the George W. Bush Foundation.

Richard Rainwater offered him a position as a manager for Natural Gas Partners, a newly formed private equity fund in 1988.

[1] By the early 1990s the firm had established a pattern of funding entrepreneurs and helping startup companies undergo mergers and acquisitions.

[7] In December 2012, through Barclays Natural Resource Investments,[8] the Carlyle Group acquired a $424 million stake in NGP Energy Capital.

[7] In 2012, Hersh was appointed a senior advisor to The Carlyle Group, and was given the role of assisting in the "execution of the firm’s natural resources investment strategies.

[9] Among other responsibilities, the role made Hersh the manager of the[13] Presidential Library and Museum on the Southern Methodist University campus in Dallas.

[19] In late march 2023, Hersh published a memoir, The Fastest Tortoise: Winning in Industries I Knew Nothing About — A Life Spent Figuring It Out.

Named in honor of the Council’s founder, the H. Neil Mallon Award is presented annually to individuals who have excelled at promoting the international aspects and strengths of North Texas.