SearchLight Capital Partners
Any ideas of the type of deals these guys do? Seems very middle market in the PE side, and kind of distress on the credit side.
Curious to hear any feedback
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Wow good job
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Oh, man. I needed this answer a month ago! Rejected interviewing with them lol. I thought was very middle market.
Anyway, thanks a lot, very useful :)
I’ve heard their fundraising hasn’t been going that well and that they’ve been slow to exit. Their mandate is interesting for sure and they have a great, sharp team.
They hired Ajit Pai not too long ago. All that said I get worried about a firm doing telco buyout chasing high returns because of all the infra capital in the space
Hey guys - do you know if associates / principals are generalist (i.e., covering both PE and PC side of the fund) or not ? Would be really interesting to have such a broad mandate as a junior
stellar distressed portfolio
I think they have at least one deal in the credit fund that will be a 0 in Europe. Maybe that’s offset by other positions but usually not a good sign…
do you know if associates cover both PE and PC or if they are separate teams?
I'd be shocked if they covered both. Totally different investing styles and mentality of course coupled with usually different target backgrounds for both (speaking generally and not counting the M&A analyst who gets a PC job or a Levfin banker who gets a PE role). Also they market their credit business as "Opportunistic Credit" which sounds a bit special sits/distressed to me which is further specialized and less likely to have an associate bundled into both that and PE. But could be wrong. If I remember correctly Centerbridge has their guys do both
Feel like closer you get to distressed / special sits, the more crossover you get to PE skill sets since underwriting equity risk. Especially in these more value equity shops that recruit restructuring bankers, partially due to how hairy their deals are.
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Given that its public info might be worth looking into their involvement in Frontier Communications
https://searchlightcap.com/news/frontier-communications-announces-sale-…
This is Ziply, a HY debt issuer
Yes, purchased from Frontier by Searchlight and WDC lol
What does their comp look like?
Any views on Searchlight in 2024?
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i've met with their team... very in-depth work on both sides... i'm close to a few of team members... i have the case study for searchlight also....
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