Consumer/Retail PE
Hey all, I'm an incoming analyst at an EB and I'm really interested in the consumer space. I know of the major industry specific players like Sycamore, L Catterton and TSG Consumer, but was wondering which MMs/UMMs are strong players in CR even if they aren't as specifically focused on it like the previously mentioned funds. Also if anybody knows of any good CR newsletters/resources that pertain to IB/PE, I'm all ears. Thanks!
Super interested in this subject too. Along with what was asked above, I was wondering if these firms prefer C&R coverage bankers or your typical M&A bankers when hiring associates?
Just curious, why are you interested in consumer and retail space? Seems like a lot of businesses in this space have low margin and look like low quality businesses that can really suffer during downturn (riskier investments)?
Spoke with an alumni who's at one of the previously mentioned funds and it really piqued my interest. First, I feel it's more growth equity than vanilla LBO because of the things you've previously mentioned (low margin, cyclical, etc) which I think would be more interesting to oversee as a PortCo. Also, this may sound kind of dumb, but I think it would be cool to analyze companies in this space because consumer sentiment plays such a big role. Things become trendy (athleisure, organic foods, etc.) and can become obsolete just as quick. I just think it comes down to personal preference in the end. I'm just beginning to explore PE options now because I know on cycle recruiting quickly starts up once I'm on the desk, so just looking for more info.
Roark is a solid UMM firm in Atlanta
If you're more interested in brands look into VMG
Retail Brew is a solid newsletter on C&R space
Second retail brew as a good newsletter. Bloomberg also had a solid podcast called material world a while back that covered cool consumer stuff, but I think they’ve ended it.
Call it a hunch, I don't think many consumer funds are hiring right now...
Would recommend looking at Alliance Consumer Growth if you have any interest in growth equity within the C&R space.
https://www.acgpartners.com
Firms that have had great consumer assets over the years, to name a few: Roark, AEA, TPG Growth, Apax, Advent, CVC, LGP, TA Associates, General Atlantic, H&F, Golden Gate, Charlesbank, ACG.
Many left off of here, but just off the top of my head these came to mind.
Thanks, very helpful!
bump
Brentwood Associates in LA also has a very strong rep in consumer
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