Brookfield vs. Onex vs. Altas [TORONTO OFFICE] - Which One is Best?
As someone who will be going through on-cycle recruiting in Canada next year, looking to gain some insight on (in my opinion) the top 3 PE shops. Let me know what you all think - below is my opinion based on networking and research I've done.
They have been growing recently (fund V was $9B and fund VI target is $15B)
Can get to work on very large deals - they've made recent massive investments such as CDK Global and Nielsen.
Global prestige / brand name.
Cash comp is below street (lower than Onex / Altas but higher than other pensions)
Have heard most of the PE team sits in NY, so not sure what kind of stuff the Toronto office gets to work on. Is it mostly just a satellite office?
Also heard culture is sweaty, you have to show up to office everyday wearing a tie and overall work long hours.
Exits seem minimal but assuming thats because most people stay there long term for the carry vesting?
Not an established associate program as they don't typically do on-cycle hiring and dont have the "2 and out" kind of associate program - so might mean not the best associate experience (both from learning and social standpoint)
Associates get good experience working on "hairy" deals
Established associate program - they do on-cycle and have a "2 and out" kind of program
Pay in-line with US MF's and they pay in USD. Apparently in the range of $300-$350k USD.
Exit opps seem pretty good too (some leave to start their own fund, for example, Altas and Pillar 49)
Onex is a meat grinder and culture is sweaty
Firm is a shitshow right now with recent underperformance and senior (and junior attrition). In fact, 2 seniors left to Brookfield PE in Toronto, 2 more left to join their own fund, and there are several more who recently left, including an MD
compared to Brookfield, they are not growing as much but historically have done well
- Growing fund, great culture, great exits (Uber corp dev, B-School, etc.), and pay is same as / higher than Onex.
- Not a global brand name, not a lot of upwards mobility (looks like most people leave after 3-4 years and their senior team is all hired externally). Heard hours are long too but not as long as Brookfield or Onex.