Meritage Group - Any Info?

Only know the public L/S side. They're focused on large caps with long holding periods and very little portfolio turnover, maybe 3-4 positions a year. One PM and a few sub PMs but analysts are responsible for covering a sector and are typically trying to get a short (6-9 months) and long (12-18 months) in the book that legs up to $100M's in position size. 

Interview process is basically -- Pitch us this stock, you have a month to do super deep diligence and show us what you come up with. It's more of a personality fit than anything else. Generally looking for people that want to go deep, have a very specific investment philosophy, and are optimizing for stability across all aspects of their life. By the end of their tenure my friend was working 30hrs a week (non-earnings) but had pretty much capped out in comp and seemed a bit bored. They got the chance to cover a different sector when opportunities in their current one were scarce, which was cool to hear. 

Since there's virtually no employee turnover, getting a gig there is pretty great but you're also not going to get much upside in comp since there's no PM path and PnL contribution is so concentrated on a few of the winners.