Young Guns/Next Gen Leaders - What a joke
If you're in secondaries you're probably familiar with this idiotic popularity contest/circle jerk.Candidly, I was a "Young Gun" four years ago, and it was the stupidest experience ever.
I work for a fund above 6bn in size and our IR literally spammed all 300 of our LPs, legal counsel, vendors, co-investors to nominate 3 people from our investment team. All it is at the end of the day is a popularity contest rife with people doing "favors" for one another.Look at the list of judges - clown CEO from Whitehorse, clown MD from a tier 2 bank, and clown lawyer from a no name law firm. Naturally two of the "leaders" this year happen to work for Whitehorse and that crap bank, and the remain 8 "leaders" all work for firms where they have close relationships.
I've never even heard of any of the people who "won". Last year they had some joker up in freaking Alberta (where tf is that) who works at a pension (lol) who "won" by doing the firm's first secondary - like seriously?They need to end this stupid ass thing or at least put in place some criteria instead of it being some random circle jerk popularity contest.
I can tell you with confidence the people who "won" this year do not have what they call "the elusive xfactor".
The part that is even more jokes is they talk about some loser 32 year old girl being like "she has invested and executed 6 billion dollars" - if you're "investing" that kind of money it's not like she did it alone - she is a freaking cog in the wheel as a lowly VP (like me) and she got all those deals through banks, not like a single deal was proprietary at that size. Ya, let's reward someone who gets inbound deal flow and knows how to write a memo and go to IC. Pat on the back.
Lol, agree 100%, I laugh at the list every year
Absolutely. If they wanted to make this list/experience meaningful they should set out some legit criteria that sets people apart from the pack, namely: (1) ability to source proprietary deal flow (which is pretty much nonexistent at most shops above a certain size tbh), (2) ability to raise capital (which no one on investment teams really do unless you're a partner or in IR, (3) Ability structure and negotiate complex transactions (which, let's be honest, most people just defer to their legal to negotiate agreements and don't bother reading them).
I had another look at the list of "winners" this year and I actually do know one of them and he is one of those political types that plays the right cards but doesn't know what he's doing.
If anything, they should be hunting for people that grind and are helping build firms, not jokers at shops like Blackrock, who frankly don't even have a secondaries team anymore cause their comp model was so broken. Also, have you seen the returns of some of these shops? Every time I read about either Landmark or Lexington I puke a bit in my mouth by how bad their returns are.
.
Dropping in to note that despite replying to others since you asked this, “VP in VC” remains too much of a little poser to even copy/paste return stats from Preqin to validate their own BS. FYI Lexington and Landmark’s returns are not shit at all. Their partners just got cashed out by BEN and Ares respectively thanks to the returns…doubt OP’s (almost assuredly pissant) firm had the pleasure of a nod in the recent wave of acquisitions…
“VP in VC” is so afraid of his/her own shit personality and toxicity becoming public knowledge that they don’t even feel confident coming out from behind one layer of anonymity to air their bad views, it takes two 🤣
The bios are hilarious, it's like they got their moms to write them up. I always enjoy these "Top xx" circlejerks
just makes me look better ;)
I think the basic requirements are:
Most of these clowns have probably never run a deal solo or even generated a proprietary deal
You are overthinking this… but maybe I should click on the link from secondaries investor one time
Say what you will about the young guns/nextgen rankings, but please leave the people who won out of it. I have worked with more than half of those on this list, heard of almost all of them, and know them all to be decent people who work on significant transactions.
You speak about some caricature of them, as though they fought so desperately to be on this list - but what do you really know? You're such a bitter asshole.
well said
Hey pleb, was anyone named?
Yeah, by process of elimination one can triangulate exactly who you're calling a "loser" in your prior comments, which include their gender, age and deal volume. Not to mention your statements about the judges, who can similarly be identified by process of elimination. All I can tell about you so far is that you have bottom bucket analytical skills and like to talk a lot of horribly toxic shit about people, but aren't man/woman enough yourself to do so to their face.
You're so fucking salty - should someone put you in the refrigerator before you become even more spoiled, or are you shelf stable?
Guess we found the diversity hire
Hey man, with all due respect (and meaning this from the bottom of my heart), you are truly a dogshit human being and professional.
Thx bro. That's why I work at Apollo.
No you don't, lol. I know those people and you ain't it. Which is it, a 300 LP shop, or Apollo? You've claimed both at this point.
I'm actually convinced you have a vendetta against someone who does work at Apollo/S3 and you're leaving a trail of breadcrumbs to try to slander the name of whoever does work at S3 that won young guns 4 years ago - it's such an obvious ploy I can't even be bothered trying to triangulate who you're pretending to be.
You care far too much about me, bro. It's funny.
I don't care about you at all. I do care about the people on the list who you're dragging for no reason at all. You clearly care about neither them, nor yourself, seeing you debase yourself this way (and so willingly). And I like to spar with trogs like you anyway, so I'm happy to do my part to curb the wildly toxic, laughably-fabricated, sexist and racist bullshit that you're spewing here.
It has been eye-opening (in a sad way) to see all the degenerates of secondaries posting on WSO so prolifically of late. It makes me ill to think that I may have sat across the table from you at some point, shook your hand, or even emailed you. I think you should have a long, hard think about what went wrong in your childhood that you feel the compulsive, deep-seated need to tear others down from behind multiple layers of anonymity? The level of toxicity you bring to the table positively screams incel/psychopath.
Since that's really all there is to say about you, I'll be going now - have fun rolling around like a pig in shit with the others who cause everyone else to cringe and look the other way.
Based on everything he’s said in this thread and what it implies about his underwriting criteria, OP sounds like he makes a living low-balling doctors and lawyers on their LP interests. Nothing wrong with that, but his pathological need to come to WSO and blubber to teenagers about why his fat IRRs/MOICs on small volume don’t merit a seat at the multibillion awards table is very embarrassing for him, imo. Pluck up and stop hating yourself so much, OP - why are you so anxious about your deal volume number being too small? Compensating much?
Awards table? Lol
Aren’t all these types of awards popularity contests? I think every publication sponsored awards event I’ve been apart of has been a function of marketing spam or a pay to play sponsorship arrangement. This shouldn’t come as a surprise. This is table stakes really.
Exactly. That's why it's so funny that this year's "winners" are posting on here
If you're referring to me, I'm not one of this year's winners, nor do I hold a high opinion of the rankings...I just think you're an atrocious and craven excuse for a human
Interesting thread. Just joined after being a lurker. This is my second year in secondaries. I know one person on the list and they are a nice person but I agree with the OP that the entire concept of "Next Gen Leaders" is flawed and doesn't really promote talent but is rather just a popularity contest. A lot of the remarks seemed pretty tongue and cheek and perhaps a bit over the top but the other guy saying he should have been aborted before birth and all that is a bit much.
You're an idiot if you think Ropes & Gray is a no-name firm
Who the fuck is that?
They have like $2-3bn/year in annual revenue but to be fair, they're not known for secondaries, like Proskauer.
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