Update: I am updating these rankings as new comments come through below 😊


Blackstone (because of new Fund)

InfraRed4) DWS5) KKR6) Antin


First Sentier
MIRA (Macquarie) - pay is very sub par


OTHER (not good enough to make list)

Comments (42)

  • Associate 1 in PE - LBOs

QIC? Don't know anything about them and haven't worked in the space just curious

  • Associate 2 in PE - LBOs

This is a pretty fair ranking. I would personally have KKR at 1.5 just after GIP/SP and have BRK/EQT/BX at 2 with ISQ at 2.5. Of the unnamed, I would also put MIRA and ECP in 2. BlackRock starts the list at 3. This is from a prestige/comp/returns POV.

However, each of these have their own glaring problems - I think the most well rounded shops for a junior experience (sharpness/caliber of ppl, track record, autonomy, learning exp & variety, comp, culture, upward mobility) here would be at BX Infra now, and KKR Infra ~3 years ago on Fund III

You get the umbrella of MF prestige + MF comp + MF capital deployment size and get to participate in a growing firm strategy w/ significant tailwinds without the bureaucracy and hierarchy that naturally comes with a long, established track record (GIP/MIRA/BRK all at fund V+). The main downside is 1) a portion of your comp is in stock and 2) carry is less out-sized at the very, very top echelon (but, after risk-adjusting for an above-average career, I think you still out-perform given the faster promotion cycle re: where you'll be @ 30, 35, 40, etc)

Most Helpful
Nutry, what's your opinion? Comment below:

I am generally against rankings but this is a much better one than OP's. Some caveats from my perspective:

- In terms of track record, Brookfield is indisputably top tier. As a place to work for, maybe not so much.

- Stonepeak's track record is largely unrealized and they made some questionable recent investments. I believe they pay really well, though.

- ISQ had significant turnover at the Americas team so something is not right there.

- GIP is a powerhouse, I would say they are alone in their own tier, but their latest fund return is lacking a bit. Previous funds are awesome though and they compensate really well.

- EQT and CIP are super solid European managers.

Source: been in infra PE for the past 6 years.

  • Analyst 1 in PE - LBOs

As a mid-level professional at a top-fund (ignore my title), the original list is wildly inaccurate. GIP has done well, though is a place few people decide is worthwhile to build a career (since you get crushed). BX in particular should be ranked at or near the top - their fund, which is brand new, is larger than anyone else on the list, and their returns are top decile. EQT makes some very interesting plays too, though more infra-adjacent.

I haven't even heard of like 5 of the "platinum" or "gold" tier plays in the original post...

  • Analyst 1 in IB - Cov

CIP and M&G I never hear doing anything interesting (maybe different in Europe but probably not). HIG is "meme status" just not well thought of like ICON. DWS and the bronzes are meh. Infra is a tight world with a few meaningful players that can and will write big equity checks. Any process of scale will have GIP, Stonepeak, Brookfield, KKR, BX and a couple of the other big ones in the hunt. Canadian pension funds are solid too

@IB-Ldn, what's your opinion? Comment below:

Why is iCON meme tier? Anyone got any intel?

ehpir, what's your opinion? Comment below:

Either you are an intern, a junior analyst one or you have no idea.

Guys like OTPP, CPPIB, GIC, etc, are top tier in infra.

Some funds like Basalt and ICON give carry from associate and if you compare what you make including carry vs what you get in bigger funds the difference is not that much at least before principal.

If you put HIG as tier one, man, you definitely have no idea LOL.

Bronze is more like DWS. Meridiam and Amber should not even be in the list....

  • Incoming Analyst in PE - Other

Macquarie is the biggest infrastructure asset manager in the world (look it up). Pay is street (Analyst 1 comp last year was 100 base and 90 bonus)

YoungThuggaLaCroix, what's your opinion? Comment below:

Thanks for this ranking now when people ask me "who the hell is X" I can tell them that wall street oasis has them as a platinum tier infra fund

In all seriousness this stuff doesn't matter and i think also depends which area of infra you invest in - some specialise in one area, some invest all across

theworldisyours__, what's your opinion? Comment below:

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nasdaq3xleverage, what's your opinion? Comment below:

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