Was wondering if anyone can give a breakdown of firms and what its like to work on the buy-side in the South? Specifically for PE and any hedge funds/investment managers that have a strong presence.
Topics that would be helpful:
-list of firms and locations
-recruiting process
-culture
-compensation
-MBA
-lifestyle
-exits (?)
Thanks for any comments!
Which area of the south are you interested? There are some firms in Carolinas, FL, TX... all pretty different "south" definitions.
Mostly interested in the Southeast. Florida, Carolinas, Georgia (ATL), Tennessee (Nashville).
But beyond specific state, more curious about the major firms, compensation, lifestyle, pedigree, and general recruiting process of PE and the buy-side world outside of the traditional NY, Boston, and west coast spheres.
There are tons of groups in MM PE and credit. Too many to list without getting more specific about location and/or strategy.
I interviewed with a few firms in Florida so I can speak a bit to PE there. The ones that come to mind are HIG, Sun Capital, Comvest, Harren and Brockway Moran.
Recruiting process is much like any other PE firm in that recruiting starts ~16 months before they want you to start, but given the size of these funds they probably do some need-based hiring as well. Culture / lifestyle seems alright, perhaps better than NYC and other financial hubs, though I've heard mixed things about HIG. Comp is lower than what you'd make elsewhere, but the lower cost of living and lack of state / city tax probably more than make up for it - think all-in ~$200k give or take for a first-year associate. The guys I met at these funds tend to either stay on when possible or pursue an MBA. I'm sure the exits aren't that much different than other MM shops with the bigger brands (HIG, Sun) likely offering better opportunities down the road.
I've heard similar things regarding HIG. One note - Brockway Moran is (or at least, was) pretty much done. Not raising another fund, and some senior guys have started their own firms (at least two I think - Blue Sea Capital and one other I can't remember) with tacit support from Brockway Moran.
Looking for information very similar to what stvr posted. Thanks a lot for that helpful reply.
If we really want to hone in on cities, I'm interested in the biggest cities in the south: Atlanta, Miami (counting it here), D.C., Texas cities, Charlotte. Overall lifestyle, comp, culture, and recruiting process for PE and credit funds in these cities, as well as a list of the bigger firms. Sorry for not being clearer earlier.
Again, this is way too broad. I'm not sure you realize how many funds there are. There are dozens in Dallas alone. You need to get more specific.
Atlanta, D.C., Charlotte. Really just the biggest funds in the Southeast (+DC)
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