How legit is Partners Group direct PE?
I’ve seen that they’ve raised a ton of money in recent years ($15Bn fund) and have heard they’re hiring a ton, but how does the experience compare to a traditional UMM/MF PE experience? Anyone have insight on learning experience, returns, comp, reputation, culture, hours, etc. for both NYC and Denver?
There was just a thread on this, would start there
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$9bn out of $15bn is non-fee generating co-invest FYI
Thats not correct, the 9bn is separately managed accounts / HF style liquid capital vehicles. See page 5 of "AuM Announcement H2 2021". You can see a further explanation in their annual report.
https://www.partnersgroup.com/en/shareholders/reports-presentations/&nb…;
Franchise wise they are doing large acquisitions and have decent returns driven by multiple expansion and some decent growth bets, but its not going to be your typical private equity associate experience. They have revamped and restructured their private equity team and incentive structures a few times in the last few years moving people around so they are trying to get to a model that works. Its a weird place to build a career if you want to move outside of their model, best to do 1-2 years and then move on to a more traditional shop that compensates market.
Exits to other non-HF shops recently have actually been pretty strong but that might just be a function of the insane hiring market.
“Partners Group amassed $6 billion for its fourth flagship direct equity fund and an additional $9 billion through separately managed accounts investing alongside the fund, Partners Group Chief Executive David Layton said in an interview.”
https://mobile.reuters.com/article/amp/idUSKBN2GG198
Yes but separately managed accounts pay fees. Extremely different from no-fee coinvest vehicles which your first post said.
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