Any info on Byron Trott's BDT Capital?

BDT is a really interesting place, and is pretty unique in how they operate. Like a merchant bank, they're involved with both investing and advisory. They raised a buyout fund of ~6bn in 2015, and dont use it exclusively to do LBO's. The capital is flexible and long-term, allowing them to take minority or majority stakes. From what i understand, they generally try to partner with larger family/founder owned business so that they can provide them with liquidity and long-term capital. Once they've developed a relationship with a client, either through an investment or otherwise, they generally provide them with advisory services. However, i don't believe this is usually in the form of sellside advisory (although it could be). Probably more along the lines of buyside or strategic alternatives.

BDT hires analysts, and is active in recruiting at UChicago. Analysts are usually working more on the advisory side, and are expected to stay for ~4 years (promoted to associate after 2 years) and start to do more investing at the associate level.

For associate recruiting, they run a process similar to other large PE firms (hiring IB analysts), and have used HSP in the past to help with recruiting. As an associate, your time is split ~50/50 between investing and advisory.

Apparently the culture is really solid at the firm, and that Byron is a great guy. Hours seem to be in-line with IB at analyst and associate level (guys work pretty hard), but from what i hear, comp is on the higher end of the spectrum. Definitely a place that takes a long-term view in its relationships with both clients and employees.

It should be noted that i dont work here, so a lot of the above were takeaways from conversations i've had with friends who work there or have interviewed there.