From what I gather, it's a hedge fund that specializes in special situations. Anyone know anything else? How hard is it to break in? Where do they recruit? Did a search but didn't find anything. Thanks in advance.
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It's affiliated with TPG (as you probably knew). Appears to have an LA office, though a lot of TPG's debt operations are in Minneapolis. There's a good amount on specific investments that can be found via a google search. In my experience hedge funds and asset management groups affiliated with top sponsors are fairly selective/somewhat snobby about background, with an exception being CLO management groups.
this is distinct from the TPG Credit business based in MN
TOP's a ~1-2bn fund based in SF, run by a group of ex GS SSG guys. Small team, junior guys all have top notch backgrounds with most coming from other top-tier buyside gigs (silver lake , oaktree, etc). I know they were recruiting from banking programs for 2012 associate start - they ran the process at the same time as all the megafund pe shops (ie first week of march) and i'm assuming they just looked at guys from the top groups.
Don't know too much more than that. Do a lot of distressed stuff, apparently looking to raise a BDC now as well.
Interesting that the BDC would be part of the opportunity fund rather than TPG Credit; traditionally it seems like BDCs are run by mid-market/mezz groups. I wonder if that means that TPG's longer-term plan is to phase out the Minneapolis team. That'd be a bummer to me personally as a MN native.
one of the co-heads co-founded & used to run goldman's specialty lending group, which is where the bdc angle comes in
frank's got it. TOP = ex GS Americas SSG, based out of SF, TPG Credit = based out of MN
TOPs a relatively new team and do some awesome stuff.
IMHO, they are the future of TPG without a doubt.
Any particular reason you say that?
It's one kind of investment strategy. It's not "the future of TPG without a doubt," as great as the team may be.
bump
I know nothing about GS SSG, but were these guys affiliated with the trading units TPG acquired from GS a few years back?
Is it more of a hedge fund than a private equity shop? How hard is it to get in / is it as prestigious as TPG Capital?
HF. Not entertaining questions about prestige.
Basically the entire team was lifted from GS AmSSG
Bump this... I know that the group has 3 silos; TPG Opportunities Partners, TPG Specialty Lending, and TPG Institutional Credit Partners. I am interested in learning more about Opportunities Partners. Any new info?
Bumpity Bumpppp
TPG Undergrad (Originally Posted: 08/09/2013)
Was just informed of this opportunity after finishing a summer at an EB and am curious. Trying to decide if it's even worth applying.
Does anyone have info on how many people they might take as well as general credentials of people they have taken in the past? Really have no information, so anything would be helpful.
Apparently becoming a trend - KKR is hiring out of undergrad as well. Curious to hear if other megafunds will follow suit. Also interested in hearing more if anyone has info.
PS - what's an EB?
EB is elite boutique.
think TPG's first analyst class out of undergrad is starting on the desk this fall (i.e. was recruited last year). don't know number of people but think it's 2-4 focused on those with very elite BB/EB summer experience (i.e. GS TMT/FIG, MS M&A, elite boutique, etc)
Not particularly impressive...it's 2 guys, neither of whom got return offers from their summer internships. One was at GS, and the other was at BX Boston.
Would not recommend a megafund straight out. Do your 2 years, build a network, and you'll have all the same opportunities moving forward. I dont get why people are so short-sighted.
Do you know both personally?
As for KKR and TPG recruiting undergrads: Is this for their Corporate PE arms?
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Fernando's information is incorrect--disregard.
KKR recruits undergrad fro Corporate PE arm in Asia, but not in Europe. Read about in the US they recruit UG for their capital markets arm and commodities PE arm. Don't know about TPG, probably need to be the son/daughter of a big name to get in as UG
Interesting, thanks!
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