Firms that you have beef with
Do you ever encounter a competitor firm that you just hate? Like everyone you meet there is a dick? For me it is Whitehorse Liquidity Partners.
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Oh, you're asking about firms that grind my gears? Well, based on the most helpful WSO content, I can't say I have any personal beef with any firms. However, it's important to remember that in the world of finance, competition can be fierce and sometimes personalities can clash. But hey, that's just part of the game, right? As for Whitehorse Liquidity Partners, I don't have any specific insights to share. Remember, every firm has its own culture and dynamics. It's all about finding the right fit for you. Keep your chin up and don't let the tough ones get you down!
Sources: Top firms for distressed investing. Solving for brand and deal experience more than ability to growth within the organization., https://www.wallstreetoasis.com/forum/investment-banking/litquidity-sold-out-to-getofficehours?customgpt=1, 15 Things I Hate About Banking
Lol bumping
Platinum Equity
Came here to say this lmao
what's up with Platinum lol
Audax, obviously
I just hate my VP, who is clearly getting fired anyways lol
LOL, will probably have to throw on the private comment shield for this one.
Corsair. I feel like I'm generally colloquially polite when engaging in this kind of stuff - a) you never know whose gonna be reading / listening, and b) a lot of pettiness ensues from these kinds of discussions, with people just shouting out names who have been bad to them, not looking at the full scope. However:
Corsair fucking sucks, both as a firm and as people. 95% of people hear the word "private equity" and assume evil blowhards forcing budget cuts on poor people and fucking over people for fun. I'm not gonna sit here and pretend like we're heroes, but you all know this - most people don't inherently understand the industry, why we do what we do, and how we deploy assets in a way that might not look ideal for a period, but overall actually make sense upon exit. However, by the time deals are finalized, no one cares. That doesn't make for a very good WaPo headline.
HOWEVER, Corsair is the embodiment of all of this. These guys, in my experience and through others, actually are the fuckin' bad guys. Inept management across the board from c-suite to analyst bullpens, a requirement of "certified douchebag" on any employee who works there, and a terrible sense of critical thinking. We collaborated with their infrastructure team on a project last year, and I swear to God my cholesterol is permanently higher because of those guys. I'm trying to think of specifics without outing this deal and my former team, but Jesus Christ. It's a goddamn clown show.
Honestly, the ones I want to highlight are the ones that are the funniest - the number of spelling mistakes in emails, the blank stares I'd get when I'd ask a question (from the people who were supposedly running the deal), the complete disregard of time management (radio silence for two days, then a barrage of 43 emails in ten minutes - no, I am not kidding), everything. Their reputation sucks in general, and they did it to themselves.
Presented a snobby sense of unbearable elitism, which was ironic because while they were a restructuring vendor, the arrangement was actually them acting as a 'subcontractor' role - a supplemental source of capital under us, with assets deployed in the way that we saw fit. Not sure they saw it that way, which was hilarious since they wrote the fucking contract. Managing them was turning out to be a bigger PITA than managing the actual fuckin' group we had on our deal, and I welcome any shit-talking that stems from somebody either working for or with them.
Prospective recruits: R U N. Sprint, even. I don't give a fuck if you went to community college, you can do better. It's like a bunch of people who wanted to pretend to work in finance got together and somehow stumbled across billions of dollars. OK, I'm done ranting.
Imagine working in a place like that as an asso/vp and getting no carry for years and years while having to put up with that just to get the boot 🥾
That would be absolute a*s lol
Agreed- worked with them on a portfolio company and they were useless and created more work. Zero value add. Sounds like they have fund performance issues and trying hard to highlight a few slam dunks.
Tell me about it, been staggering like crazy. I still connect with a couple of them on LinkedIn and seems I see talking points about the same shit that could have been posted forever ago. I can't speak negatively about 2023+ Corsair in good faith, as I know they've brought in some external personnel from reputable groups and have been fighting tooth-and-nail to change their image. God knows my Corsair experience was proof of that alone.
Still though... the only shit I hear about Corsair was their disaster w/ Kyobo Life and the Oakbridge deal that seems to never end. We'll see if their transition into Audax subsidiary yields any actual results or whether it's just hiding behind a new name and logo.
bump
Sounds like One Equity Partners, ha
It is weird how they're all ex pro athletes, or at least ex collegiate athletes
Groups where I have a genuine hatred for the people working there:
-Overbay
Groups where I simply dislike the people:
-Schroders
-CPP
-Star Mountain
CPP as in CPP Investments from Canada?
Yes. One of the principals on the secondaries team is a bad person. One of those kids that went to private school and from a rich family and thinks he is God's gift to the world. My issue with CPP is that some of the team act like they such hot shit but in reality they get gifted the best co-invest and opportunities simply based on their size and primary commitments...it's not like they have to source anything at all ever or have ever experienced the challenge of fundraising.
Schroders - the head of secondaries is a jerk
How comes Schroders?
What did you hear about Star Mountain just curious?
What experience did you have at Star Mountain? They always seem to be recruiting, is it because ppl are turning over fast?
are we saying beef or just the people are absolute losers? Blackstone Tac Opps, probably has the biggest crew of absolute losers on the street.
why lol
Getting into the reasons would dox myself. But they all are so lame
Seems like a bit of a hot take but I’m all ears as to why
HIG. A mgmt. team we represented hated their VPs so much they told us they wanted them out of the process, even though they were one of the higher bidders . Made me so happy.
No direct experience with HIG but at my previous PE firm, at every single exit (think it was like 8 exits while I was there) they'd be on the initial buyers list proposed by our bankers and a partner would strike them every time and just say "we don't show deals to HIG" and we'd move on.
A weird amount of my friends have been lowballed by them at some point lol
Some of the HL rx bros are the worst lol
Why? Always liked RX guys, special breed of humanity but fun to be with.
Those who make it through HL RX either come out enlightened and chill or vicious and evil. No in between
London or NY?
Can we get some more context on this, curious on culture, hours, and such in HL Rx
Antin
London or NY?
Why? I thought they had a good culture?
Not really a firm but anyone with the CFA charter. All of them I've met that have completed the three levels has been a total douche.
They likely need to justify the massive waste of time that the CFA is. The fact that you have to pay annual membership fees to remain active as a CFA charter holder to begin with is the biggest sham I’ve ever heard of. And for the millionth time, nobody in PE gives a rats ass about it lol.
GIP
Why’s that
Why’s that
Symphony Technology Group, had the unfortunate displeasure of speaking to an MD there. Guy was a total shitbag, rude as hell.
Their seniors are straight up mean. I imagine they are the type of people that wake up pissed off
You've also spoken with them?
STG is up there as one of the worst sponsors I’ve worked with in years. Horrible investors. Look at their portfolio and all the companies currently in distress.
Why have they been able to raise much larger funds every few years if they’re such horrible investors?
bain capital
What did these guys do 😭 they’re so nice
Probably the nicest people out of all the MFs. What beef do you have lol
95% of the folks are the salt of the earth, there’s a couple people who are horrible, horrible people though - leaving it at that
Fair enough. Sounds like you had a bad run-in with one of the few, then.
I mean they’re a bunch of girly nerds, but I wouldn’t say I hate them…
KKR private credit
Why
Rude senior staff mostly
Fortress Investment Group
Harlem Capital
What do you expect? Harlem Capital is a firm founded by washed up diversity hires. Couldnt generate returns so branded into an "impact" firm
That’s a grudge I’ll hold for awhile lol
Glad Whitehorse got a mention early. Can’t call out them without also mentioning the blood suckers at H.I.G capital. Worked with them multiple times and genuinely dislike including them in processes.
I was referring to Whitehorse Liquidity Partners, the secondary firm, not HIG Whitehorse.
The Houlihan Lokey secondaries advisory team. Can't stand that guy...
Lol Sameer?
Barclays legit lazy a** psychos
F**** Kirkland and Ellis.
wait until you meet Jones Day
Barclays sucks massive cock
Commonfund
Jefferies
Jefferies PCA are some of the worst bankers I've ever met lol
H.I.G, I have witnessed the rudest VP and the nicest Partner in-person, sure every firm has a few bad apples but suprised how the Partner allowed the VP to roam outside the reservation...
Jefferies. Everyone I've ever met from there has been a rock-solid shit stained douche bag. It's like they couldn't get enough of Junior year frat parties and decided to make it a bank. I know people on this site jerk off to them, for God knows why, but I don't get it... some of the dumbest mothers out there. Bring on the Monkey Shit - I'm ready to EAT.
Agreed. Jefferies attracts problems.
concur - worst networking call was with a school alum (who didn't even get a return offer from her junior summer which was not jefferies) at jefferies.
bad vibes overall.
70% of people at Silverlake are douchebags.
At this point, it seems almost like a requirement to work there
Not buyside, but BMO IB groups in Canada generally. Seem to be overworked, stressed, and unnecessarily douchey. Don't really like interacting with them in social events or for work.
The cool ones got moved down to Houston
Holy f guys you listed every PE fund
Hg capital
What did they do?
Why? Hg ppl are super nice from what I've witnessed
Sidley, the law firm. Incompetent yet arrogant. Permanently removed from our list of lawyers that we consistently work with.
Heard the culture a bit toxic too. What kinda incompetence?
HandsOn Global Management. Small fund in LA. I know one of their former partners and got to know him after he retired. Wanted to pivot careers pre-MBA and he lied about possibly helping. Forwarded my resume to his son who ended up being a complete dickhead (MD on Wall Street).
Didn't learn much about the firm but the fact the CEO's son is a partner and looks super young screams nepotism.
Sounds like a bucket shop
black diamond capital mgmt
moelis 🤬
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