Hey guys – I wanted to try and get a list of some reputable buyout shops (not growth equity) that participate in internet/software buyouts. I know that the majority of these are located in San Francisco/Palo Alto/Menlo Park. However, there are a few such as Siris Capital (web.com buyout) that are located in NY. Are there any other upper middle market funds like Siris that you know of? Are there any megafunds that have their TMT buyout group in New York or are they also all in San Francisco/Palo Alto areas?
I am an incoming TMT IB analyst at a bulge bracket in San Francisco. I enjoy covering the technology sector but think I would fit in better in New York, which is why I am thinking about recruiting there for PE. I wouldn’t mind being at a fund that covers other sectors in addition to technology. I just don’t want to abandon the TMT space altogether after spending two years covering it in IB. Let me know. Thanks everyone.
I don't know much about New York, but have you considered looking into LA buyout firms? There are some good PE firms that are active in the technology space here. Not sure why you like NY more than SF, but LA is probably a nice median between the two. Also, it might be easier to recruit considering nobody will know exactly when interviews start and you are just a two hour plane ride from SF.
I haven’t considered LA, but I’ll definitly give it a look
can you name some LA shops ?
Marlin & Ares
Apax Digital comes to mind in NYC
Seems like they’re more minority investment focused, but I’ll look into them a bit more.
Carlyle's global head of TMT is in New York along with one other MD. DC is the only other office with two MDs. Carlyle's funds (last I heard from an undergrad classmate who did his pre-MBA associate stint there, so this is now a bit dated) all recruit on an individual basis, e.g. you interview directly with the Consumer group not with Carlyle buyout overall.
Blackstone does a decent bit of tech, as does Advent.
Warburg does a ton of tech and also gives sector-specific offers. I know two people currently in pre-partner roles in TMT there.
Battery Ventures is smaller than you're looking for ($1.25b in current fund, $7b total historical AUM) but does some interesting work.
Silver Lake has New York staff. I'm not sure how big it is, but I do know a guy from my undergrad went there after banking and I've seen him on the street a few times over the years so I know he's still in town.
KKR has its tech practice siloed within Private Equity. There are several senior people in the New York office, some of whom are cross-staffed or on the I.C. of the firm's Next-Gen growth equity fund as well.
Advent also siloes TMT and has more than half its senior team in New York.
Siris, as you mentioned, is great. I wrote about them here.
This is all that comes to mind off the top of my head.
This is an awesome list. I'll be doing quite a bit of research based off of this. I Really appreciate this info and your time APAE!
Vista Equity Welsh Carson Insight Ventures (combo of control and minority)
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