Understand Cinven are currently recruiting for associates in London. I received an inbound and am in the process. Happy to discuss my recruiting experience as it evolves. It would be very useful to hear from someone with experience of the firm to discuss the standards 1) Culture 2) Comp 3) Historical deal / fund performances 4) Outlook 5) Other general views
Thanks, M
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Analyst 2 in IB - Restr, bummer your thread hasn't had a response yet. Maybe one of these threads could point you in the right direction:
More suggestions...
You're welcome.
bumping
Work in London MM - so have heard a little from friends
1) Culture - quite British / formal. Less sweaty than the large US funds - but still relatively sweaty from what I understand
2) Comp - I'd imagine / guess it is around ~£180 - 200k all in
3) Fund performance - has not been as good as others. But, not 'awful' either. Latest I have (31/12/21) are: Fund V (2012): TVPI 1.6x / DPI of 1.6x, Fund VI (2016): DPI 1.1x / TVPI 1.8x, Fund VII (2020): DPI 0.0x / TVPI 1.2x
5) General views - clearly good at fundraising - despite 'so so' returns, from €5bn to €7bn to €10bn to €12bn from 2012 vintage to latest 2022 vintage
Cinven fund performance and culture | Wall Street Oasis - you might want to check also
Monkeyshitter - please tell me which part was inaccurate? Helpful to know. Thanks
Latest fund raising target is not €12bn but $12bn/€11bn as per press releases. Fund size growth has very much stagnated. (now targeting 10% growth) Indicates lack of confidence imo (could be explained by the performance that you quote)
Thanks. That’s useful to know.
I mean growing the fund in that fundraising environment is still a win no? Everyone is struggling to fundraise
Those returns are honestly not that great
Comp figures are wrong
Culture is known to be among the best out of MF/UMM funds in Europe
Rest is accurate
So what are the right comp figures?
Any views on NYC office?
What is the headhunter via which they recruit?
Bump
Nordbridge (at least they reached out to me)
Thanks for this! When did they reach out to you?
Was this for a european office? Or does the same headhunter work for NYC as well?
The comp seems so low?! Is it normal in London?
It’s an estimate. It could be on the low side but London always pays less than NY. Unless at large US funds where it might be in USD.
It's typical for London outside of US MFs.
Following, would love it if OP could share timeline and rounds
My understanding is that you get $5mm in carry by the time you are senior associate.
Thanks - that's useful to know. Sounds like 'real' carry as well rather than 'shadow' carry.
This can't be true right? Is this carry actually realised?
Yes, its definitely completely off. On Associate level (year 1-4) carry is waaay lower (in line with what one can get at other upper mid market funds).
They also have had quite a bit of churn: In the last 18 months or so alone they had 7+ associates leave and several VPs/directors.
Yes, they underpay based on cash comp but have a very attractive accrued carry if you make it past Associate (which is quite tough).
Pretty impressive. But when is this actually realised? Part way through when you're principal. I'd be surprised if actually received
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