AEA Investors - London

Echo comments of others / would add:

• London acts as their European HQ - small office with 2x Partners, 2-3x D / VP (one of whom sits in Munich), 2-3x Sr Assoc and 2-3x Assoc
• London office has acted very much as a satellite office for the mothership in NY - reason for this is that they messed up on a few O&G investments and have had to hold on to them as legacy assets for ages (cf. Sparrows which they exited a couple of years back finally) so NY has kept them on a short leash. IC sits in NY and very much calls the shots
• Focus is solely on classical business services and industrials - PST was a decent exit for them last year; now the only decent asset on their books is Polygon (pan-European damage restoration business). Again part of the reason for this narrow scope is they have precedents they can rely on to prove out theses to their NYC-based IC; they don't like looking at 'new' stuff
• Investment theses tend to be quite undifferentiated tbh (pretty much just look for good brand names in defensive spaces with some degree of presence across Europe that print cash and then juice returns with some bolt-ons) 
• Limited deal flow (i.e. ~1 platform and a couple of bolt-ons p.a.)
• Comp is line with market for MM shops (i.e. ~£180k as a first year Associate rising steadily); carry not offered until Principal
• WLB is decent by virtue of their lack of deal flow and people generally being nice; good annual ski trip in Aspen

TLDR: In Europe / London, they're an ok-to-mediocre MM name but nothing to write home about. There are much better names around in this segment of the market (e.g. Inflexion)