KKR/Platinum Equity/Ares/Bain Capital
Thoughts on which are strongest? Obviously different in size, but diff in perceived prestige, experience, compensation etc ? Which would you choose for pre MBA Private equity positions?
How Do PE Firms Compare?
The private equity world, like all finance careers, is very selective. The number of people who actually get to choose between offers at prestigious firms is quite small, but all the same it is interesting to share insight about different firms.
- Good if you want to be at an MF in NY
- Top bschool placement
- Probably has the "strongest" name, with Bain Cap next in line
- Possibility of getting promoted with no MBA
- Probably the longest hours/most difficult work environment of the firms on this list
- Good for their operations feel (the M&A&O concept)
- Good if you want to be in LA
- Smallest out of the firms in this list
- Good if you want to be able to invest up and down the capital structure
- Good if you want to be in LA
- Known for being hard working guys who aren't afraid of getting into the more distressed side of things
- Has debt funds, but their private equity fund actually has a very open-ended charter allowing them to invest throughout the capital structure wherever they find the best risk/return investment
- Good if you want to be at an MF in Boston
- Top bschool placement (HBS/Stanford and places many back at Bain as Senior Associate – with tuition reimbursement – or other top PE firms)
- Culture/hours are very good compared to Ares and KKR
- Heavy consulting background (a good portion of the associate class has a consulting background)
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These firms are all so different...
Platinum for their operations feel (the M&A&O concept) and if you want to be in LA. Smallest out of the firms you named.
Ares if you want to be able to invest up and down the capital structure and if you want to be in LA. Hard working guys who aren't afraid of getting into the more distressed side of things.
KKR if you want to be at an MF in NY. Top bschool placement. Out of the firms you named, probably has the "strongest" name, with Bain Cap next in line.
Bain Cap if you want to be at an MF in Boston. Top bschool placement. Culture/hours are very good compared to Ares and KKR. Heavy consulting background (a good portion of the associate class has a consulting background).
Don't know about exact comp as I only have general ranges for KKR, Bain Cap, and Ares but it seems like it would be KKR>Bain Cap>=Ares. No clue about Platinum.
Thanks for the great response! From what you're saying it sounds like ares might provide the best broad learning experience?
That's tough to say. I would say that if you have any interest in distressed opportunities/debt or unique situations, then maybe Ares would provide you with the "broadest" learning experience out of the firms you mentioned. I will admit that I don't know KKR's program too well so have simply assumed KKR is similar to Bain Cap in that they both focus on your traditional LBOs or take-privates.
Ares is split on the distressed elements, PE and debt portion. If these are actual offers, do more research first.
KKR and bain cap trumps ares and platinum. hate to say it but in this industry name is much more important than "learning" at the end of the day
Tom Gores of Platinum Equity is quite a character. He and his brother are truly self-made men who started from scraps and have done very well over the years. Not sure if best place for junior employees.
The answer to your question of which you should choose for pre-MBA position is unequivocally KKR
The number of people that actually have a choice among top PE shops is tiny. I get the whole comparison aspect here--it is interesting to hear about different focuses, culture, etc. But saying "which would you choose" for B school / exit opps / learning is kind of pointless--very few people actually have that opportunity.
why is that? bain cap pays basically as well, works you way less, has a better culture, and sends all their kids to HBS/Stanford and places them either back at bain as a senior associate (with tuition reimbursement). or other top PE firms. how does KKR sound like a better deal in anyway (other than the possibility of getting promoted directly with no MBA)
I would argue KKR and Bain Cap, then large gap, then Ares and Platinum
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