Very hit or miss. No standard. Some smaller platforms give it to Sr. Associates, and at other places VPs don't get it. Also depends on fund structure, heard some BDCs pay out of quarterly incentive comp. Then you have places like CPPIB etc where I don't think you have traditional PE style funds to pay carry out of.
People usually focus on cash comp as the incentive piece is not as powerful as PE (but could still be valuable).
Typically provided at VP and above. Methodology varies widely depending on platform strategy, fund structure, etc. For those with BDCs, the cash distribution component is fairly attractive vs. Euro style arrangements.
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Have a friend who is an MD at a direct lender and was surprised to learn that he does not get carry
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Very hit or miss. No standard. Some smaller platforms give it to Sr. Associates, and at other places VPs don't get it. Also depends on fund structure, heard some BDCs pay out of quarterly incentive comp. Then you have places like CPPIB etc where I don't think you have traditional PE style funds to pay carry out of.
People usually focus on cash comp as the incentive piece is not as powerful as PE (but could still be valuable).
Typically provided at VP and above. Methodology varies widely depending on platform strategy, fund structure, etc. For those with BDCs, the cash distribution component is fairly attractive vs. Euro style arrangements.
My group awarded from asaociate level back when at ~$2bn AUM. Nowadays (~$10bn AUM) from VP level.
Points - depends… 0.25-0.5% at VP level from my personal experience (~$3bn fund).
Actual expected $ amounts significantly lower vs BO shops, but generally faster (if European waterfall) and more predictable.
Do you get coinvest?
Sit porro rem aut odio reiciendis. In voluptatum eius sint dolores. Error voluptatem ut tenetur labore dignissimos. Omnis suscipit nihil sint suscipit.
Non qui voluptas necessitatibus quia et enim ullam. Impedit similique ullam iusto natus non rerum. Sed eaque excepturi aut est et.
Eaque illum magnam molestiae. Magnam quo necessitatibus reiciendis sunt ut. Porro voluptates magni cumque harum itaque praesentium quaerat deserunt. Nobis occaecati in ut omnis rerum nostrum minima maiores.
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