CD&R Updates
Hi monkeys, what’s the latest on Cd&R culture, comp, and associate experience?
Interested in tech & industrials teams.
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Culture sucks, comp is good, experience is amazing. Super respected name
Would say culture is better than historically (solid B and getting better...but group dependent), comp is really good (pay above the street, 1st years pulled in +/- $400k all in last year, experience is really good (also group dependent). Extremely solid fund performance (3-4x MOI past several funds), especially when you don't benchmark to all-tech funds that rode the wave the past 5-8 years.
Fund performance is solid but 3-4x is stretching it. Fund VIII was a clunker (David's Bridal went to 0), Funds IX and X are largely TBD because exits are hard in the current market. Maybe some superstars in there, but also some dogs still in the portfolio (Wilsonart sale blew up a few years ago and has been in the portfolio for a decade now).
Is it realistically possible to land an offer without internal connections to the firm? CD&R always struck me as a super old school firm
Most kids getting offers to MFs have no connection. It's honestly more common in IB.
They now hand out group-specific offers during recruiting. Tech team is newer, building it out. Industrials is their bigger team - CEO is in that group. Seem very nice but definitely give off very professional, buttoned-up vibes. Heard comp is very good.
Honestly this is a good thing just for transparency / fit purposes. Industrials has *always* been kind of a snooty place there, with bad WLB to match: I know of associates who (invariably from GS / MS / PJT) were given "preparatory" portco assignments during their free time in between banking and PE from the team, hoping to lock them in before making them unofficially dedicated to the team for their two years. Kind of a judgmental / aloof lot, but also undeniably brilliant. Weird returns recently though
Tech is newer but at least their first few hires were a mix of top culture AND quality. Services (non-tech) has always been the "nice" spot to land, with the exception of some oddball principals. Edit: I have no idea to what extent or not services as a standalone outside of tech is still a thing team-wise.
Healthcare was a box of chocolates, from culture to smarts to mentorship.
Consumer is small and kinda weird--not grindy on balance, but they have rough patches like with any MF job and they only have so many processes going at a certain time; quality is...fine? They've done a handful of big deals (more in Europe) but idk if they're distinguished in the space really.
Consumer deal in Europe (Morrisons) is looking ill timed - that's not a reflection on the fund as a whole, but worth mentioning.
What is the culture like in the European tech team / seniors (since they don’t really have a team yet)? And services team?
Also are they good at tech in the US? What types of deals do they do well in - not clear how their experience will benefit them in tech
Anyone know If they’re recruiting for 23 or 24 still?
Any info on perks at work (Ubers, dinner stipend, etc?)
It matters because otherwise you’re not signing? Lmao
Hey man, I signed with HIG over CD&R because I liked the catered meals better
Well I signed with Chipotle over CD&R and now I get free chipotle catering every day
Yes, have luxury of mult offers, thx
London office: £35 dinner after 7 (x2 on weekends), Uber Exec after 8, on-site Chef preparing breakfast & lunch buffet, 10% of base as pension contribution (incremental), 50% gym subsidy, good private healthcare insurance
Are you able to comment on London office's culture and newer tech team? Heard it's sweaty and hierarchical, also difficult to build up the European platform. How hard is it to get promoted too?
Are they doing off cycle recruiting rn? I know they’ve taken some kids on cycle but wondering if they’re still actively recruiting. Also which HH do they use?
Any idea if they hire externally for VP roles? (e.g. if you did 2 years at a MF then wanted to go there)
They do, but rarely. They hired a handful of folks at the principal (their VP equivalent) level a few months ago with Gold Coast.
Any insight into what their interview process looks like ?
1 screen, 1 model, 1 model debrief, 4-5 convos after including deal walkthru and cases.
Anything on their financial services team? They recently hired the ex-CEO of Marsh McLennan as an Operating Partner, and they also hired a guy from TowerBrook to head the vertical, so it looks like they'll target segments of the sector where roll-up transactions are the deal thesis.
Bump
They just acquired Focus Financial
.
Any chance you could repost or PM?
Does anyone know how the WLB/culture in the healthcare group is?
Do they promote after 2 years to VP or is it to senior associate?
Does anyone have insight into what their modeling test is like? I have one coming up next week and would appreciate any help.
Interested too
Which recruiter does CD&R use?
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