Maranon Capital Analyst Program?

Does anyone have any insight into the Maranon Capital analyst or associate program? Saw them on an article on PEHub the other day. Seems like a solid shop that invests Senior, mezz, and equity. Not too sure of it’s reputation but seems to have an analyst program on the investment side, with majority of associates and Vice Presidents from IBD programs. Anyone have any insight on reputation/culture/comp?

 

Little insight into it, had a few buddies that recruited with them a few years back, very ND and IU Kelley heavy, with the majority of senior professionals with MBA’s from either Kellogg, Booth, or HBS. Partners look like they were on the investment team of American Capital (ACAS) before being sold to Ares. Seems like an interesting shop considering they can invest up and down the capital structure (senior, mezz, and equity). I’m sure hours and comp are similar to other buy-side firms, albeit probably a little less than larger PE shops, looks like a solid spot for analysts and associates

 

If you have an offer here in the bag would you decline it and wait for a banking offer?

My plan was to go to the buy side post banking, but its hard for me to commit now to staying on the private credit side, which they focus on. Also, keep in mind that if I declined Maranon, the banking offer is still uncertain (as maranon recruits several months earlier than where I am targeting in NYC)

Also, how likely is it for someone to move from a position on a debt shop like this to something else, such as private equity. How flexible is it to exit from a place like this, and what are the potential choices?

 
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Highly, highly doubt you have an offer in the bag here looking at your post history if you're coming from a non-target. When I recruited here and talked to some of the analysts on their team, they recruited from UChicago, Northwestern, Notre Dame, IU Kelley IBW, Michigan Ross, and Illinois Gies IBA. My understanding from my other friends that also recruited / are recruiting is unless you have a 3.7+ and a previous private equity / investment banking internships it'll be tough to break in. Buy-side internships / analyst programs are notoriously more difficult to get than banking. You have 1-5 seats to fill vs 50-80 at a bank.

In terms of exit opps from private debt, you'll have more flexibility in firms that invest throughout the capital structure (particularly mezzanine and equity). Not an easy transition to private equity buyout, but more than doable.

 

Actually I am now a part of one of the programs you listed and we have a good relationship with the firm (have alumni and have sent a handful of kids in the past) Also I am in the GPA and internship criteria you mentioned.

Thanks for your insight on exit opps from private debt. How unique is it that they invest across the capital structure? Since they can do up to 30m in equity co investments, would this give some opportunity to leverage that exposure if I did try to pivot to PE buyout later on?

Also, for those who knew they wanted to go buy side and are currently in banking, would you have taken this if it was an option for you coming out of undergrad? My biggest worry is that I would lose the flexibility coming from the "standard path" that banking provides. However, thinking about skipping 2 years of what some would consider mind numbing work does make it attractive.

 

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