6 Comments
 
Analyst 1 in IB-M&A

Where would you rather work as an associate PE role? Both SF, one generalist vs. one tech focus. Similar fund sizes and fundraising. Which would be better for hedge fund exits?

If solely for HF exits would think Francisco wins out given that Genstar is more buy and build so more inherently oriented to middle market companies.  Generally Genstar plays in slightly different transaction types / strategies than some of the funds it’s size that HFs like.
 

Also the tech angle is largely a positive given where a lot of SM AuM is focused and I’d imagine you look at more take privates at Francisco than Genstar.

 
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Pretty much same fund sizes, but would personally take Genstar over Francisco given the hours/culture are better and the generalist program allows for a more diverse experience while still getting plenty of tech exposure. Not being solely focused on tech will also help returns and fundraising in this environment.

Genstar is also significantly leaner while managing the same amount of capital meaning you will get better exposure to seniors and more reps. Will also probably see them start taking more looks at take-privates given the increasing fund size and market right now. With that said, FP does seem to have more consistent HF exits and they do have more of a focus in take-privates historically. Think both are great spots but if you are dead set on HF then maybe slight nod to Francisco. Having interacted with people from both places you can't really go wrong here. 

 

Literally the top UMM offers along with Clearlake, Veritas and GTCR. Would pick based on fit.

Will just flag that Genstar has grown very rapidly over the past 5 years (their fund size was less than 50 percent of what it is today a few years ago) so takes a while for prestige / exits to catch up; would slightly lean towards FP given that 

 

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