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Never heard of them, sounds like a scam. Did they ask you to invest?
http://currentcap.com/
http://www.analysisgroup.com/experts-and-staff/affiliated-experts/jonat…
https://www.linkedin.com/pub/jonathan-f-foster/8/a57/a51
http://www.bloomberg.com/research/stocks/private/person.asp?personId=59…
Doesn't look like a scam to me.
Ya it's not a scam, was set up with them through a headhunter, it's just a smaller pre-fund PE firm run by an ex-Lazard guy. Would have a lot of responsibilities, but they are just starting off , are looking to make one to two investments and then raise a fund.
Any experience with smaller funds such as this?
The good ones never do.
Just to reiterate, because it's irresponsible to throw out the kind of label realjackryan did, Current Capital is a legitimate group. Looks like they're operating under an independent sponsor model (read: fundless) until they complete a few one-off deals and can raise a fund (or, they might stay fundless -- which is totally feasible in a market like the current one).
Don't know anything about them. Assuming you don't have offers from -- or legitimate potential to join -- established funds, this could be a good experience just looking at the backgrounds of the team.
They have multiple portfolio cos, which is a good start. But, fundless sponsors are really struggling in an environment where multiples are elevated. Without a pool of capital and leverage capabilities of a fund, it appears to be a daunting task to me.
Actually, I'm seeing the opposite. I've actually seen them as the culprit for driving up multiples on a number of occasions. This happens because they don't have any of their own capital to risk (so why the hell not bid higher to lock-up the deal?), and they know there are plenty of debt and equity funds scrambling to put their raised capital to work. These sponsors are having no trouble finding backing once they get something under LOI, and bankers know that.
Yep they are, hit the nail on the head!
Well the positive is that I am junior and transitioning fields and it would give me a lot of responsibility and learning opportunities. I know given my educational background/test scores/current employer I can make a top business school, but I want to get some pre-bschool experience in PE and if anything upgrade later.
The issue is I don't know if I can get a bigger firm, or I'm just offcycle. My resume has gotten responses from headhunters so it's not the worst, but it's also not typical for the field.
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