Huron Capital - Detroit - Can anyone share their experience they had as an Associate?

Hi All - looking for some insight on the associate experience at Huron Capital based in Detroit (huroncapital(dot)com)   -It would be really helpful to know what type of experience associates at the firm get and what general consensus is on the firm. Curious if there is any semblance of work life balance or if it is banking 2.0. I saw a few people on LinkedIn who left the associate role before they had 2 years of experience so trying to figure out if there is anything driving people out of the firm.

thanks

Comments (35)

  • Associate 2 in PE - Other
Sep 29, 2020 - 8:53pm

My understanding is culture is extremely bad from friends who have worked there.  They have since gone to other PE shops where they note the culture is much better. 

There is a few other shops (not pure buyout) in Detroit that can do super interesting deals that I would check out.  

Fontinalis I would assume would be super interesting.  

Rockbridge I would assume may be very well funded to do some really interesting stuff with Dan Gilbert's new found 30b.  

There's also a couple people in the Michigan area I could see launching shops in the next couple years which I would think wouldn't have trouble fundraising. 

  • Analyst 2 in PE - LBOs
Sep 30, 2020 - 2:12pm

From MI as well. Huron culture is toxic, fund performance is not strong. Other MI funds include Peninsula, O2, and Blackford Capital (not great either). Quite a few MI people in the IB / PE scene all competing for the few spots in the state that are respectable: MI > NYC, LA, SF, CHI for the long term....

  • Analyst 2 in PE - LBOs
Oct 1, 2020 - 8:21am

Positive on Huron performance. Have good insight into Fund III and IV, both

Oct 2, 2020 - 11:57am
Bullet-Tooth Tony, what's your opinion? Comment below:

What have you heard about Blackford? Seems like most of their associates don't even really come from IB and that they don't have a committed fund?

Nothing positive. Pretend to compete in auctions, are not legit buyers for deals over $4mm EBITDA IMO. Junior guys turn over frequently. I think they do have a very small committed fund (Fund I was $50mm, not sure if they could raise a second but they were trying).

Most Helpful
  • Principal in PE - Other
Sep 5, 2021 - 10:39am

Deal by deal model: PE firm doesn't have discretionary capital so they find a deal and then pitch that deal to investors for funding. The investor has no "blind pool" risk as they know what deal the PE sponsor is buying into.

blind pool model: the standard in PE. A firm goes out to institutional investors and raises discretionary capital to spend within their fund. It's a 'blind pool' for investors as they don't yet know the specific companies which are going to be acquired.

By retail I mean they: 1. Can't attract institutional capital (foundations, endowments, pensions, etc) and onboard small cheques from high net worths and 2. Partner with a wealth management firm where advisors load in like 25-150k cheques from high net worth clients - seen as "dumb money" in the industry.

  • Associate 2 in PE - LBOs
Aug 31, 2021 - 4:42pm

Saw Center Rock is raising good sized Fund II. Offices in Chicago and Detroit. 

Funniest
Oct 1, 2020 - 11:30am
Pierogi Equities, what's your opinion? Comment below:

TIL there's PE in Detroit.

Quant (ˈkwänt) n: An expert, someone who knows more and more about less and less until they know everything about nothing.

  • 5
  • Analyst 1 in IB - Cov
Oct 2, 2020 - 2:09am

Who's being aggressive?

  • Investment Analyst in PE - Other
Jan 19, 2022 - 9:55am

Bump - The firm is looking to hire a few associates for Summer '22. Anyone have an idea on comp range, culture, life in the most glorious city in America (Detroit)....

  • Analyst 1 in PE - Other
May 23, 2022 - 4:59pm

They underwent a process around two years ago with Sixpoint to do a NAV loan. They for some reason asked Sixpoint to tap the secondary market to see if funds would be interested....pretty much every credit shop said they needed like 12% and they were like that's in the ballpark. Wasted everyone's time with DD for 3 weeks and then gave the deal to a bank for 6 percent lol. I got the vibe that no one on the mgmt team knew what they were doing.

Jun 8, 2022 - 11:46am
prerevenue, what's your opinion? Comment below:

Friend worked there and said work/life balance and culture was good. Lots of activity but highly resourced. Comp in-line with market which translates well bc cost of living in Detroit is a fraction of NYC/LA/CHI. Most people leave bc of Detroit factor. They also had a few home-run exits recently

Jun 30, 2022 - 9:23pm
johndeni, what's your opinion? Comment below:

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