Carl Marks
Does anyone have any insight into this firm? Found out about an open position and just want to find out so more info - anything from deal flow to exit opps to team size would be appreciated.
Thanks!
sounds very communist
heard the janitor makes the same salary as the ceo
Carl Marks lost some leadership to Teneo Capital if I recall. Otherwise they're fairly unknown considering how long they've been around.
Decent in Rx, weak brand name in general M&A.
Two of their Rx execs left for Teneo
Proven time and time again that this firms business model doesn't work, however, some people still think it is a good idea.
Carl Marks & Co.? (Originally Posted: 12/04/2006)
Does anyone know much about Carl Marks & Co.? Any information is helpful! Thanks
Example?
Basically every other firm in history that has tried this model has failed miserably. Also tends to be a huge cultural chasm between junior and senior bankers.
Amazing name for a bank! Wonder whether the Co stand for Lenin, Trotsky and Mao...
It is all of US, comrade.
I think your exit opps would be severely limited. Their team bios completely suck.
I heard that they have this weird requirement that all analysts have to have really woolly beards, unkempt hair and an addiction to debt and illogical rantings about "exploitation" and "the bourgeois morality"...also one must have a rich friend who's willing to subsidize his life for the next 50+ years, a nasty drinking habit and an affinity for shitty cigars.
Hilarous. I almost fell out of my chair reading that.
Haha it seems like a great bank! Thanks for your responses
Those people are either really self-made millionaires or absolutely suck. Most of them don't have MBA's and their BA's are from mediocre (sometimes awful schools)
I don't know much about them, but I think they were strong in the ethanol space when Scott Chabina was there (ethanol is a very limited space where maybe 2-3 firms really excel in the industry). I think he left though. He's nearly the voice of that industry from our industry's standpoint.
I'd agree they're known more for restructuring work than anything else... according to Debtwire/Reorg, they advised senior lenders on CD&R portco High Ridge Brands' Ch 11., for which they must've beat HL/Laz/EVR etc because of how big that deal is (600m+ in debt). On LinkedIn I actually see 50%+ of the senior team coming from Wharton/Princeton/HBS/NYU/CBS and a few JDs, but also a lot of lesser known names too.
Actually it seems a lot of the Princeton/Yale professionals are in their distressed debt hedge fund or PE fund, which has the same name as the IB/Consulting arm.
I have heard everyone there gets equally shitty exits.
A kid left for Castlelake, another to Verition... Another to Brightstar (MM PE).... UBS O'Connor (hedge fund). Summit. MGG Investment Group. Two guys went to MS IB (1 in M&A). LinkedIn shows a couple going to fintech start ups too (doubt Rx would be helpful there though). Not bad at all - any input from people in RX on the brand perception?
The Jordan Company spun out of Carl Marks. They seeded some PE funds such as Stone Goff Partners too.
Any company that uses the view from the Rockefeller Plaza as their website pic is sus imo
They are advising one of the creditors in TPC Group, which just filed... It's a big case with Cerberus and Bayside as minority noteholders battling Fortress, Monarch, PGIM, Redwood Capital and SVP as majority noteholders... the debtor did a priming transaction in 2019 which the minority claims was invalid... we may get one of the first actual BK court rulings on this issue so it's a big deal... the carl marks & co guys advised a Long Point/KKR portco that filed recently too. Other than that, don't hear of them much. Smaller shop.
Any info on the distressed arm?
I think they're a lean team - they go restricted a lot and do distressed for control... linkedin bio's show lotta board rep. def not an oaktree/centerbridge, and more small-mid caps/mid market... one of the few distressed-only focused funds left rly. Dying biz. IDK their returns, but i am guessing it's not good, as across the industry there has been crappy returns and a severe lack of opportunity for too long. Most funds like this have shut down/pivoted into easier-alpha-generating strategies. The better path for growth is private credit or PE.
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