INFRA PE PRESTIGE/COMP RANKINGS
Update: I am updating these rankings as new comments come through below 😊
PLATINUM TIER
OTPP
Blackstone (because of new Fund)
GIC
GIP
Brookfield
CIP
M&G
IFM
Stonepeak
GOLD TIER
InfraRed4) DWS5) KKR6) Antin
SILVER TIER
First Sentier
APG
EQT
ARDIAN
iSQUARED
MIRA (Macquarie) - pay is very sub par
BRONZE
JPAM
ICon
Basalt
OTHER (not good enough to make list)
Amber
Meridiam
Please elaborate
QIC? Don’t know anything about them and haven’t worked in the space just curious
Shouldn't Macquarie be higher reputation-wise? Is this ranking just based on pay
Salary at Infrared is much lower than MIRA and also the firms you list on Silver, Bronze or even Meme tier lol
what's salary like at infrared ?
List is a joke. GIP, Stonepeak in their own tier then KKR, Brookfield, Blackstone, I Squared, EQT are top
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)
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.
have heard GIP and stonepeak are complete sweatshops. can you confirm?
Heard through the grapevine that ISQ founders did not want to relinquish carry so guys from the top started leaving
thoughts on bank AM infra platforms? GSAM / MSIM in particular
Why Is Brook not a good place to work at?
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...
Know of one guy at GIP that quit with nothing lined up just six months in. Haven't heard of anything like that... Think a large portion of their senior associates are laterals, which is telling
How sweaty is Stonepeak compared to GIP?
How are you a mid-level professional in infrastructure (or in the PE / M&A industry at all) and have not heard of 4-5 places in the list?
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
What about Partners Group, especially Europe?
JPAM should also be in meme tier. Shocking stuff
Please go back to your IB forum for ranking threads, thx
Why is iCON meme tier? Anyone got any intel?
Who does Stonepeak austin use for HH?
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....
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)
.
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
Why Is Brk not a good place to work at?
Infra in the US is predominantly a NY play with the exception of BRK in TOR. None of the mega funds have shops in LA. MIA is growing as a secondary location if anything
Bump to the moon
Save
p
Where does EIG fit in the list?
What banks are most commonly represented among associates at desirable Infra PE firms? Would be great to hear from someone in the industry
I am based in Europe so might be different from the US.
Short answer, it depends on the firms you are targeting and your class. If you look at firms like GIP or i Squared, a lot of the analysts or associates used to come from Credit Suisse or Morgan Stanley respectively but it is changing. It does not mean it is a prerequisite but could make a small difference. Ultimately, whether you come from GS, MS, JPM or R&Co, it does not really matter, you will get contacted by HH regardless. If you are targeting banks/boutiques that have sector teams, be mindful of it as some of them are more well regarded than others (thinking about (i) the UBS Infra TelCo team or (ii) the PU&I team at RBC which are way more solid compared to the generalist infra teams in my opinion). MacCap reputation is also quite good within infra funds, both in MF or MM. If you target more MM, DC Advisory and R&Co are both good choices but the turnover for the former is madness (not because of a toxic culture but the hours).
Hope that helps a bit.
Is it still the case for Evercore since they lost their co-head of Infra few months ago? Have not seen them a lot recently.
Any updated views on BX & KKR? TIA.
Quia autem nobis consequatur ea qui beatae. Fugiat eos omnis incidunt. Quod culpa qui optio et. Inventore rerum sint et ut sapiente ducimus impedit.
Qui modi reiciendis vitae ducimus eos nesciunt. Facilis aut alias sunt ea. Dolores quis perspiciatis ut consequatur. Quod dolorem est officiis officia error.
Error delectus voluptatem enim sed. Sapiente laudantium natus distinctio maiores sit eum. Aut aut aperiam ducimus quis rerum unde. Nisi voluptas ea eos consequatur ut et tenetur.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Iure nihil nisi earum voluptatem molestiae voluptas cumque. Aut quo quo praesentium. Libero accusamus ut impedit aut omnis. Id magni aut vel voluptatibus pariatur. Architecto ipsum aliquid placeat. Et quasi debitis et accusamus velit.
Qui dolore mollitia ab non. Reprehenderit blanditiis qui aut quo necessitatibus. Aut eveniet nisi nemo sequi doloribus doloremque.
Corporis ab impedit molestiae. Omnis nihil est omnis omnis occaecati. Magni vel atque nihil maiores doloremque error omnis. Alias architecto quisquam doloremque autem labore ut excepturi. At et praesentium et quae sunt. Quam modi tempora animi ea eum tempora nulla.
Dolore architecto adipisci hic officia expedita qui fugit. Enim aspernatur soluta possimus deleniti ab.