Hybrid / Special Situations Mid-Level Comp
How does mid and senior level compensation compare at the hybrid capital and special situation funds like Apollo Hybrid Capital, BX Tac Ops, Brookfield Special Sits, Bain Special Sits, etc.) compared to the flagship buyout funds Interested in both cash comp and carry at the VP and Principal + levels.
Also, is carry quoted on a DAW at 2.0x MOIC basis? Is carry typical 20% in these funds or is it lower?
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I joined one of those platforms and sit within the more public markets focused sub-team. All first year principals (late 20s/early 30s) are +/- $1mm total comp with a fairly narrow band. After a couple of years we really start to pay for performance: highest performers end up between $3-5, with lower performers stuck in the $1-2 range.
Is there a carry component as well or is that factored into the total comp quoted here?
Carry not included in above. We do get carry across our draw down funds, but the majority of our capital is HF and other quasi-permanent capital. Overall our comp is much more HF style than PE style.
what are the hrs like at your level?
All over the place but 50-70 is probably a 10-90th percentile bracket.
do principals have sourcing responsibilities?
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