Carlyle Associates

smuguy97:

Carlyle hired someone from Edgeview? Aren't those guys the chop shop of middle market investment banking? Perhaps this individual had some important relatives...

Odd, indeed. Edgeview isn't that great, but I've seen their pitches and they do look mighty fine.

VermontCheese:

Is this across all funds? or just Buyout? I saw at least one RE guy in there who I assume went into their RE fund.

From this you can deduce that Carlyle, a top (THE top according to PEI) PE shop, does not just pull its associates from GS and MS. Also, unless every NA meant consulting, it seems that you have a better shot at getting into Carlyle from a "lower tiered BB" than consulting.

Thanks for the list! Solid use of slave labor.

I think it proves more that the so called "higher tier" BBs really don't have much over the "lower tier" BBs in terms of exit opps. BB experience is BB experience. The "tiers" are simply conjugated by silly little monkeys that are looking for a way to one-up each other.

VermontCheese:

Is this across all funds? or just Buyout? I saw at least one RE guy in there who I assume went into their RE fund.

From this you can deduce that Carlyle, a top (THE top according to PEI) PE shop, does not just pull its associates from GS and MS. Also, unless every NA meant consulting, it seems that you have a better shot at getting into Carlyle from a "lower tiered BB" than consulting.

Thanks for the list! Solid use of slave labor.

Ugh. I hate those PEI rankings. I would recommend buying a real database like preqin before you draw any conclusions (http://www.preqin.com/performance_data.aspx).

Prescott Moncrief III:

Guys, before you get all excited about the tiers not mattering and what not, you should note that up here Morgan Stanley (top tier) has double that of JP Morgan, which sent the second most kids to Carlyle (12 for MS, 6 for JPM).

Furthermore, it should also be noted that you guys are probably interested in where to associates entering Carlyle's buyout funds come from, in which case the data would be slightly different. Here is that information, directly from the website:

Morgan Stanley – 9 JP Morgan – 5 Goldman Sachs – 3 UBS – 3 Merrill Lynch – 3 Lazard – 3 Credit Suisse – 2 Bear Stearns – 2 Deutsche Bank – 2 Edgeview – 1 Mizuho – 1 Greenhill – 1 Evercore – 1 Blackstone – 1

Moreover, realize that coming from the lower tier banks, it is basically a prereq that you are coming from a top group (M&A/Sponsors/LevFin), and that for MS, those nine kids came from a number of very diverse groups (Tech, Real Estate, Healthcare, Media/Telecom, FIG, Energy&Utilities).

And btw, there are a number of other buyout shops where kids from the more prestigious groups (MS M&A, GS TMT, UBS LA, CS Sponsors) would fill up completely (e.g. KKR, Blackstone, Hellman & Friedman, Apollo). Despite what PEI says, Carlyle is far from the most prestigious firm, and while it is very big, it does not on average see the IRRs of the aforementioned shops throughout their existing buyout funds.

Hmm..no one from Citi went into Carlyle buyout?

Prescott Moncrief III:

Guys, before you get all excited about the tiers not mattering and what not, you should note that up here Morgan Stanley (top tier) has double that of JP Morgan, which sent the second most kids to Carlyle (12 for MS, 6 for JPM).

Furthermore, it should also be noted that you guys are probably interested in where to associates entering Carlyle's buyout funds come from, in which case the data would be slightly different. Here is that information, directly from the website:

Morgan Stanley – 9 JP Morgan – 5 Goldman Sachs – 3 UBS – 3 Merrill Lynch – 3 Lazard – 3 Credit Suisse – 2 Bear Stearns – 2 Deutsche Bank – 2 Edgeview – 1 Mizuho – 1 Greenhill – 1 Evercore – 1 Blackstone – 1

Moreover, realize that coming from the lower tier banks, it is basically a prereq that you are coming from a top group (M&A/Sponsors/LevFin), and that for MS, those nine kids came from a number of very diverse groups (Tech, Real Estate, Healthcare, Media/Telecom, FIG, Energy&Utilities).

And btw, there are a number of other buyout shops where kids from the more prestigious groups (MS M&A, GS TMT, UBS LA, CS Sponsors) would fill up completely (e.g. KKR, Blackstone, Hellman & Friedman, Apollo). Despite what PEI says, Carlyle is far from the most prestigious firm, and while it is very big, it does not on average see the IRRs of the aforementioned shops throughout their existing buyout funds.

Dipshit,

1) I just went through the buyout section -- I saw 4 from Citigroup

2) Almost all of Carlyle's associates are buyout or RE, very few are in the other two funds

VermontCheese:

That's something I always wondered. Using an IRR metric, what are the PE shop rankings then? Could someone with access to that information please give at least a rough list of that. Thanks

tons of information is available from those organizations that are subject to FOIA.

Here is Calpers portfolio:

http://www.calpers.ca.gov/index.jsp?bc=/investments/assets/equities/aim…

WanganRunner:

It's everything, not just Buyout.

The "Capital Automotive" RE hire is a former co-worker of mine. Also, a "she", not a "he".

It's all on their website, you can see the background of every member of every fund.

Yea, no shit

KaKTy3:

For those banks with split LevFin/FSG model, Financial Sponsors Group is a coverage/relationship team. You don't want to be there, as you learn much less compared to your peers in LevFin and M&A. All you do is pitch same stupid idea to 100 different sponsors hoping one of them will pick you and then never see the execution—>boring.

Not true. At places like JPM, Citi, CS, ML, and UBS the FSG kids handle much more of the modeling and place much better in to PE than their Lev Fin counterparts. This is especially true at the bank I work at.