Charlesbank new class
How is everyone from a MM like Jeffries or HL or t2 consulting firm like LEK?? Does no one want PE anymore?
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Based on the most helpful WSO content, Charlesbank and other private equity firms continue to attract talent from both middle-market investment banks like Jefferies or Houlihan Lokey (HL) and Tier 2 consulting firms like LEK. However, the competition for private equity roles remains intense, and the recruiting process is highly selective.
Private equity is still a highly sought-after career path, but the dynamics have shifted slightly. Some candidates may prioritize other opportunities due to lifestyle considerations, the rise of tech and venture capital, or even the increasing appeal of staying in banking or consulting for longer periods. Additionally, the rigorous recruiting process for PE, which often requires strong modeling skills and deal experience, can deter some candidates who may feel better aligned with other career paths.
If you're noticing fewer people from these backgrounds pursuing PE, it could also be due to the growing diversity of exit options available today, including corporate strategy roles, startups, or even staying within their current firms for better work-life balance.
Sources: Q&A: Consulting v. Banking, the age old question. By Former MBB and Bulge Bracket Banker., Q&A: Former MBB Consultant, Q&A: Former MBB Consultant
Who cares bro
Stop hating little bro
Charlesbank is a shitty platform that hasn't raised a fund since 2021. I doubt any truly great canidate wants to go there.
More broadly, linking candidate quality to their bank is lazy. I worked at GS, and some of the dumbest people I know are peolpe from that job. Some super smart people land at MM IB on bad interview luck, some dumb people get into GS the same way.
The best analyst at UBS or Deutsche is likely better than the bottom half at MS or GS. Funds like Charlesbank, AEA, and Providence should stop competing for scraps at top BBs. They're never getting top talent anyway, that goes to mega-funds or top UMM's (not saying they don't get any good people, just that they also get a lot of massive duds). Instead, they should probably grab top performers from lower-tier BBs and MMs. They won't do it because they're prestige-obsessed. That's also probably why they keep struggling, too stuck in their old ways to change.
Aren't they're raising Fund XI now? TBD on the final fund size but Preqin seems to suggest it's above the $4bn target
While target is $4bn, seems like they’ve reached $3bn so far but not sure!
Del
Bro is sellside and bitter
midlevels and MDs define an investment shop, not associates.
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