A&M Private equity performance improvement?
Interested in recruiting for this team. can anyone provide color on lifestyle, culture, exit opps, etc? Information seems hard to come by but it seems like a team thats focused on the intersection of Operations and strategy, a great sweet spot in my mind. Thanks!
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It's a consulting arm of A&M focused on portco integration, optimization, etc. If that's the type of work you want to do it's definitely a respectable place that works with a lot of good MM funds.
Do you think exiting to MM portco ops team or investment team is feasible?
Definitely yes to former, almost certainly not to latter. If you're dead set on being an investor I would not take this role.
Gotcha. It seems kinda funny that portco. ops is less regarded than investing work, but without portco. ops guys investing profitably would be impossible. Do the IC guys at these firms really know how to improve firms at the operational level? Or are they just pedigreed enough for investors to trust with their money compared to the guys that know what is going on at ground level?
It's not less regarded, it's just different. PE investors have tremendous respect for great operators and vice versa. The IC guys often do not know how to improve firms operationally - of course they understand how conceptually, but they won't know literally how to implement or drive improvement in operations because they're not operators, they're allocators of capital. What they do know how to do is identify excellent operators (i.e., management teams), and that is a huge part of private equity (indeed, any) investing.
I should caveat my above message by adding that I have seen people jump from megafund portfolio ops role after ~3-4 years to same MF's investing team. So it's definitely possible, but you're talking about a 5-10 year path that is definitely pretty circuitous and not the most direct...
Gotcha gotcha. To be honest, the operational side interests me more than the investing side. I want to learn how to build a great company, not just identify it and throw a check at it. Regarding comp potential, do you have any operator data points to speak to?
That's like asking how much actors make, you could be a starving artist for 30 years and dead broke, or you could be Jerry Seinfeld and a billionaire. Similarly, you could be a failed startup entrepreneur and make $0, you could be a corp dev person at a F500 and make solid six figures, or you could be a titan CEO and become a multibillionaire. It's all about getting equity exposure to home run outcomes.
Look up Bill Foley, Charles Bludhorn, Rupert Murdoch, Ari Emanuel, Tony Hsieh, Elon Musk. This is just off the top of my head; each is a billionaire and closer to an operator than an investor. Plenty of CEOs you've never heard of at MM companies worth $10-100mm from getting several bites at the apple over the course of a career as a C-suite member in PE-backed companies. The cream rises to the top...
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