Wondering how the old merchant banking arms of BBs are doing, and what working for one is like. Do some still have a lot of professionals from their old banks, or are they just like other PE firms now besides a few seniro guys? I've compiled a list of sorts below, feel free to add the ones I've missed. Seems there have also been multiple waves of spinoffs, the two largest coming from the Volcker Rule and in the pre-07 buyout boom.
GS -- Kept it MS -- Kept it / Metalmark Capital (Acquired by Citi, then spun off again following Volcker) JPM -- One Equity Partners / Irving Place Capital (BSMB) / CCMP Capital C -- Metalmark Capital / Court Square Capital Partners / CVC (Citicorp) BAML -- Ridgemont Equity Partners / HgCapital (ex-Merrill) / Nautic Partners (Fleet Bank) CS -- Avista Capital Partners / Diamond Castle Holdings / aPriori Capital Partners (All ex-DLJ) / MatlinPatterson BARC -- Trilantic Capital Partners (LBMB) / Equistone Partners Europe DB -- MidOcean Partners UBS -- Lightyear Capital (not spinoff) / Capvis (Swiss Bank Corporation)
Probably missed some, thoughts and insight are welcome. Would be cool to hear from anyone who's worked at one of these arms during the spinoff process.
Anyone have some insight on the history behind some of these spinoffs?
What's the lifestyle and comp like for some of these groups? Do any take from undergrad?
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