Partners Group Major Scandals
The SD was a couple weeks ago. I’m hearing of some CRAZYYY shizz happening including major cheating by most candidates on the LBO test, the LBO test being sold by candidates after the SD, and an interviewer dropping the N word in an interview and gloating that the firm is casually racist. A journalist is now covering the full story and reaching out to SD participants. Wtaf is wrong with this firm?! And does anyone with any insiders view know what tf they’re doing to fix this mess???
I’m having trouble connecting the dots as to why a flawed SD process would be newsworthy? Does anyone know the name of firm this journalist works for?
If it is true, glad it is being investigated.
Everything except the N Word situation I can personally confirm - I was at the SD myself. I don’t think there is anything involving a disgruntled candidate at all, there are genuine concerns that most SD attendees I spoke to have about the process. Besides, offers aren’t even out yet so no one is gonna be disgruntled just yet.
Man offers/rejections aren’t even out. This whole situation is true. I wish it wasn’t but it is…
The severity of the situation is definitely enough for a local/career specific journalist to cover. I won’t name the journalist under fear of being doxxed, but they’re a large international publisher that has covered stories like this before. Someone else said this before - „it isn’t necessarily an issue with a single process or interviewer, it’s a fundamental issue with this firm”. Their shitty culture has really come to light in this process and, frankly, if I get dinged I couldn’t care less at this point…
In his defense, the candidate asked him what his favorite song was knowing damn well he was a Kanye & Jay Z fan.
Edit: fr tho the only people shocked by the racism allegations are ones who clearly have never worked with the Swiss before. That said, fuck these guys.
I categorize the diction of this post as “Fortnite”
Not sure on these specific issues. But have a friend in a mid level role at Partners. Based on his feedback, I’d avoid this firm like the plague.
I wouldn’t be surprised at all - can you elaborate a little on his feedback?
Again just a friend of mine and we just complain over beers so take with a grain of salt. Apollo like hours for below market comp. Very corporate, political, and backstabby culture. Insane bureaucracy. The weirdest one is that the IC is comprised of non-investors (it’s like the original founders of the firm from its FOF days) which drives everyone insane. (I don’t even begin to understand).
I have several friends there and literally only heard negative things about the firm. Usually it’s nuanced when I enquire about other firms, but for PG it was unanimous. Says a lot imo
It’s a tier 3 firm
Absolutely right. Recruiting for this firm + making it to SD was the biggest regret of my life
If you get the offer will you decline it then?
Is this EU or Denver?
Nah this is EU. Probably the worst recruitment situation I have ever been in.
For anyone with experience in similar circumstances can you tell me what usually happens in situations like this?
eFinancialCareers have published an article loollll. This firm is so so done
Nooo wayyyyy hahahaha PG is acc finished. Can you send the link?
It won’t let me send links on here, literally just search „Partners Group Racism” - it’s the first thing that appears
https://www.efinancialcareers.co.uk/news/partners-private-equity-cheati…
Idk what tf is going on at this firm but I am gonna stay 1000ft away from it. Terrible.
This Bloomberg article is insane from 3 years ago regarding the same firm - comparing black people to monkeys? Wowwwww. How is any LP investing with this GP?
https://www.pionline.com/private-equity/partners-group-sued-woman-who-c…
Partners Group sued by woman who complained about racist slurs
A Black former employee at Partners Group Holding AG is suing the Swiss private equity firm for $10 million over claims she was forced out of the company after complaining about a senior colleague's alleged racist slurs.
Harmonie Mulumba, who spent two years as a Goldman Sachs Group Inc. analyst, says she was unfairly pushed out in July 2018 following her complaints despite performing well during her time in Partners Group's associate program.
In a letter she filed to a U.K. employment tribunal, Ms. Mulumba alleges Juri Jenkner, the head of private infrastructure, made a joke comparing Black people to monkeys on a trip she attended, mocked the accent of a female Indian colleague while he was muted on a videoconference meeting, and held Ms. Mulumba to a higher standard than white and male peers.
Mr. Jenkner, based at the company's headquarters in Zug, Switzerland, didn't respond to an email or a phone message seeking comment.
This is CRAZYYYY… this firm never learns. Yet another reason why I won’t be taking up the offer if I get it. Absolutely diabolical firm with diabolical culture
Who raises women to a higher standard in anything that's not a female gender role? Weird
"and held Ms. Mulumba to a higher standard than white and male peers."
Ah yes this always happen in finance. So sad.
From what I know about the firm, I don’t think that the culture is screwed up. To the extent there was this inappropriate behavior, I would attribute more to a specific individual rather than to the group. From my understanding, the group tries to do business in a first class way. We had them as an anchor LP in a previous fund and I found them to be nothing but professional and a pleasure to work with. Your mileage may vary, but it’s important that we not conflate inappropriate individual behavior with an overall broken culture. Every firm has bad apples.
I completely disagree with you. They say that „culture comes from the top”. Juri Jenkner was precisely this - at the top. We aren’t just talking about a loose cannon racist junior that slipped through the net, we are talking about someone that is - now - „President and Co-Head of Investments”. He was promoted following this all, in Jan 2024, to the damn INAUGURAL PRESIDENT of the firm. Based on accounts of ppl I know at the firm, they can all confirm his behaviour around this time too. For a senior to operate like this, they’ll need enablers. This will be, both, their junior colleagues and - clearly after things reached the courts (and given his later promotion to freakin’ president) - the organisation too. On the SD we were interviewed by seniors. Whilst I didn’t encounter anything too crazy (racist etc.), one senior did say something along the lines of „we are culturally German and the firm likes to maintain this through our hiring”…which was weird af for an interview (regardless of how valid the statement may be). For me, it’s safe to say that this IS the organisation/culture at fault. And if they don’t change something drastically - this will only be the start of their troubles…
Couldn’t have put it better myself. Spot on right here
"Culturally german" is indeed a truly odd thing to say in an interview. Even for the most blue-blooded banks in London, I have never heard of such a blatant linkage to a cultural nationality during an interview.
Partners Group is very Swiss and that comes with the asssociated upsides and downsides
Anyone who has lived/worked in the German part of Switzerland knows that this is all par for the course. PG has opened a lovely new office in Zug and I'm sure they will be fine.
Par for the course?! Wtf does that mean and what does their new office have to do with anything?
Can't expect everyone to be woke—deal with it (& yh, I'm black)
You don't get it. Look at the fools at AllianceBernstein suing the Swiss government over the CS AT1 treatment, as if they have any chance of getting anything out of that suit. Things work differently in Switzerland and that's not going to change (for better or worse....I'm not defending PG here btw). PG is a very Swiss (Swiss German) company and anyone who has worked with them or knows people who work there knows that the culture is unlikely to ever change. Btw, I think PG is a mediocre investment firm with mediocre people....
Update: Can confirm that I’ve been reached out by an editor from one of the big insta finmeme pages. This is getting even worse…
Yes. Told them everything. Although these forums are all they rly need to check
They have done… based on what I saw looked like they seriously did their homework
Their performance is also shit especially in infra topkek
Do you have any info on their returns?
Yea, one of their largest investments has been held for 3 years and is still not in a positive mark (net)
Absolute shitshow, they paid 5x higher than GS and are now cooked
I have read a lot of articles about their “stellar performance” and highest returns in the industry.
From their own Linked page they often say things like “Great to see Partners Group included as a top performing large buyout manager between 2008 – 2017 in this new factsheet from Preqin.”
Is this all BS or am I missing something? Have almost no affiliation to the firm.
Anyone know if we are gonna hear back this week? If someone on the inside can please offer some insights as to what is going on, this would be most appreciated.
I’m an FA at the firm. Feel bad for u guys waiting so I’ll try my best to help. I rly don’t want to reveal who I am because all this is strictly confidential so will keep this super general. What I will say is that the 3 FAs and 1 Associate that were running the process have seriously fucked up and everyone on the inside knows it. Their reputations at the firm are down the gutter and they will never be trusted for anything by anyone again. That LBO test should have NEVER been the same as the previous year - I def did send out the prior year case to a bunch of ppl but wasn’t expecting it to be the exact fucking same. What the fuck do they expect by being so lazy as to keep it the same - it’s not my problem and I won’t be losing my job over it idc. I’m def not the only FA to have done it either/ppl also got the case & test off people who didn’t successfully pass the SD last year too.
In terms of the racism, things are not super visible rn but there will be a massive investigation I’m sure. I still hear about the incident with Juri Jenkner on (at least) a biweekly basis and it doesn’t look good on the firm at all - and this just makes things a whole lot worse. If not directly accused by the whistleblower, it is likely that all the interviewers will get called in and interrogated by senior HR. This is going to take time. The reason why you guys don’t have news yet is because of these incidents. The eFinancialCareers article and upcoming Litquidity piece hasn’t helped either.
TLDR; u guys won’t be hearing back this week. Next week seems more likely depending on how quick they can identify the racist culprit and find out the extent of cheating in LBO test (probably fucking everyone lol). But could even push a week past that too.
Next week my ass bro. Just got invited to next round. These fucks are re-doing the LBO test.
Has the litquidity piece been published?
What’s the juri incident?
I got dinged - anyone else?
Dw you’re not the only one. I know 2 ppl asw - maybe you’re one of them
Absolute shitshow of a firm, lmao process is laughable
ABSOLUTE FUCKING JOKE OF A COMPANY. DO NOT APPLY TO THIS SHITSHOW UNLESS YOU WANT A 3 MONTH PROCESS TO GET DINGED FOR NO REASON. FUCK THIS FIRM AND ANYONE THAT HAS ANYTHING TO DO WITH IT!!!!!!!
I have a few friends that work there / going to work there. Mostly in the Denver office. I’ve only heard good things about PG from them. All stellar people. They will handle the situation well. Sucks to hear that some bad apples represent PG poorly.
Yes, i bet a firm's culture will be similar in Denver, United States to Zug, Switzerland. It's very useful to hear about your friends going to work for PG in an office 5000 miles away from the region being discussed in this thread!
I said “mostly” in the Denver office. I know people that sit in the Zug office too and they have great things to say as well.
Jeez… I got an offer for a VP/P role like four years ago and turned it down because I learned only the Partners get carry (guess that’s why they call it “Partners Group”). Glad I dodged that bullet.
Not sure what role, but this is generally wrong (also 4 years ago). You get carry at VP in investments roles.
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