How many portfolio companies do you over see?
Curious how many portcos everyone is overseeing at the associate level. My partners of the firm say 4 is a lot, but any typically try to get associates on only 2 companies. Does this sound about right for an associate?
Based on the most helpful WSO content, the number of portfolio companies an associate oversees can vary. Here are some insights:
LMM PE Associate Experience:
Q&A: 3rd Year PE Associate:
Q&A: Lower Middle Market PE Associate:
"Analyst" vs "Associate" in PE:
Pre-MBA Private Equity Associate:
In summary, overseeing 2-4 portfolio companies seems to be within the typical range for an associate, but this can vary based on the firm's structure, the associate's experience, and the specific responsibilities assigned.
Sources: Q&A: GS/MS IB Analyst —> Megafund PE Associate —> HBS/GSB Business School, LMM PE Associate Experience - What is it REALLY like?, LMM PE Associate Experience - What is it REALLY like?, Q&A: 3rd Year PE Associate ($10bn+ AUM, MBO/LBO, equity, mezz, distressed debt), Q&A: 3rd Year PE Associate ($10bn+ AUM, MBO/LBO, equity, mezz, distressed debt)
Four. One as Investor Director and other three as observer.
This is MM in London.
Don’t think I can take any more….
One is a proper buy and build, the other one is kinda growth / development type rollout, another does like one mid sized acquisition per annum and the other is a bit more growthy but underperforming to IC case.
To add, I think two - three is probably about right for an Associate / VP. But, depends on how the team is structured and whether you are responsible for origination, execution and portfolio.
Would you please comment generally on the UK MM at the VP level? I.E. WLB, comp, career progression, top funds
Would say comp is around £200k - 300k (it is OK). Usually would get carry at probably £2 - 3m worth, and possibly more for the larger funds.
Career progression can be good - depending on fund growth, really need to be at a growing fund to make space for promotions
Good funds in the space are the likes of Inflexion, ECI, Montagu, Equistone, Graphite - but it is crowded I think.
20, but my firm is not the norm
One. My fund is very operationally focused and one portco is definitely enough. Add live deals onto that and it gets pretty sweaty
1-2
Three but others cover two or partly none. Averaging two at my firm, subject to exits/new deals, etc. - portcos can not be shuffled around so not always balanced.
At my firm, I think it would be impossible to have more than 2. 1 is more than enough work.. if you had two portcos, don’t think you would be able to spend any time on new investments. This could be specific to how involved we are with portcos vs others
2 – one is a roll-up that typically requires more time
I only have 2 portcos with one that requires a bit more handholding and already feel overwhelmed with also having to juggle live deals but have a friend at Audax who is managing 4 Portcos right now and running at 2 live deals. Every single one of the PortCos is operationally intense given their buy-and-build strategy so IDK how he is surviving. He certainly isn't sleeping lol
This sounds like hell
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