Insight on Blackrock Long Term Private Capital (LTPC)?
Forgive me if late to this but what’s going on with this team? Heard it’s winding down, but still seeing hires/promotions.
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I mean there’s an article that talks about them winding the fund down. Who are they hiring? The remaining team is just to sell off the portfolio. You’re seeing this at a lot of PE firms - obfuscating the decline of the PE firm by making it seem like they’re growing with hires (to backfill people who have left cause the firm failed)
would this same logic to promotions? why would they promote if they’re winding down?
Blackrock is a huge firm and winding down the fund isn't the fault of the junior people, no reason to hold people back on title when the comp isn't material to the firm
The team is small as is and they'll probably get new jobs within the firm or long runways to leave
Need to retain some talent to sell off the portfolio…look at Onex. On the brink of winding down but still has a team that they promote and acts like everything will recover
helpful - thanks, wonder what will be the fate of those remaining.. layoff?
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