CVC / Arcmont / Permira / Apollo - culture and career in London
Who can share insights with those firms? I do know they are a bit different but was wondering which option you would consider and why? I am engaging with multiple HH presenting me opportunities but its hard to get a view on the culture (which is most important for me), working hours, deals etc..
All in their direct lending teams. Happy to receive any insights you might have.
You BB or EB?
Arcmont is sweaty, desperately trying to find assocs
Are you in process with all these names? Thought CVC Credit had closed
Not sure if all of those are recruiting right now, but not in a rush to recruit and just had a general chat with a recruiter who seems to be well-connected with them among others. Know some of the equity teams but not sure how culture would reflect on the credit teams.
Can't talk about all the others, but was involved in a recruitment process with Permira direct lending team.
Extremely positive feedback on interactions while also being one of the most thought-provoking questions I was asked in an itw.
Actually had a good fit with them but didn't end up receiving an offer because I was too senior according to them for the Analyst position they were hiring for.
Nevertheless, the VP in charge of recruitment actually called a few months after my process, just to check in and see how I was doing and told me to stay in touch/not to hesitate for a coffee if I ever have time.
100% recommend on culture + premium brand name and some of the best deals on the street + exposure to growth sectors (tech, healthcare, education)
Just my 2 cents obviously
Thanks for the feedback. Not in the process with any of them yet, but would you mind sharing what made the interviews or questions so difficult compared to others? And did you just do interviews or was there a case study as well?
Don't have a lot of experience interviewing in the PC universe so happy about any input I can get before getting into it.
Quite inaccurate for Permira Credit - the background of people in the team is quit subpar and their portolio is one of worst performing in Europe. If you are considering Permira, do so only for equity.
Arcmont is quite a strong player in the region and they stack-up very well in terms of fundraising and performance track-record. They were acquired by Nuveen last year, so don’t know how culture has changed, however they are still one of top players in the region alongside the likes of Ares, Blackstone, Barings, ICG, GS etc.
CVC - they changed the strategy a couple of years ago and fired all their special sits team and re-focussed on DL only. Believe they have been doing quite well and have been writing quite large tickets lately. They mostly focus on large cap stuff and often club with other direct lenders, unlike most of the other players who are pure MM direct lenders and usually lead or take the whole debt.
Least pessimistic credit bro
Also mentioning Barings but not hayfin is hilarious
Yeah Hayfin should be up there, but they are stronger for special sits, less so for pure DL. If we talk about pure DL, Barings is a much more present/established player.
Not personally familiar but I remember when Permira raised their most recent EU credit fund the seniors in my team were all shocked they were able to.
Afaik, there is a NAV-based earn-out in the Arcmont deal which currently leads them to finance basically everything they can find at atrocious terms. This perhaps will fall on their feet in 2-3 years.
Possibly, you seem to have more experience than me in PC, so will take your word for it
My opinion was just that and based on personal interactions. I don't have any insider view, but it just clicked with the team and I thought positioning + brand name were good, so worth it.
For people's background I agree, thought the same thing, but still respectable places though
Perhaps an unpopular opinion on this forum, would take a subpar shop where I get along with the people I work with over a top bucket name just for the sake of it
But bottom line, I agree with you when you say it's not Permira PE
Permira Credit isn't the best...
Any additional insights on Permira? How bad is it for a career to join a fund with a poor track record? Appreciate carry is less of a thing in Private Credit anyway
Any infos from public sources available on the performance of Permira vs. other peers mentioned?
Interested to hear refreshed views on fund performance, comp and development of other funds like BX, Hayfin, Park Square - does anyone have any insights?
I would put Arcmont, HPS, BX, Ares and ICG as the most scaled players in Europe and all within what you can expect for sponsor DL performance. The differences is Ares don’t do UMM cov-lite deals, HPS can do hairy deals, ICG has a small team and Arcmont has been successful when taken keys.
Also, with Barings just loosing 20+ MDs/Ds it is interesting to follow
Bump - interested to hear the latest on culture, comp etc for these names
I know two people that went for the Permira roll
Did they just get the offers? Understand they are still running a process
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