LA vs SF - Which for MF PE?

Does anyone have some fresh insights on the differences between the two cities when it comes to MF recruiting? Is one significantly harder to recruit for than the other? What are the main differences between the type of funds you will find in each city? Differences in comp/culture/prestige?

Any information at all would be helpful. Currently at a top GS/MS/JPM group in SF.

Thanks!

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I mean, the only true “megafund” in LA is Apollo and they only hire maybe 1-2 associates in that office per year.

Then you have strong UMMs (LGP, Platinum) and the more distressed focused players like Oaktree and Ares. Also Marlin and Clearlake are UMM that focus on hairy businesses. None of the above are super focused on tech, which is very different from SF.

SF has TPG, KKR, H&F, SLP, Thoma, Vista which could all be considered megafunds. Obviously some have a tech focus. Also has very strong UMMs like Golden Gate, FP, Genstar as well as European funds (Advent, Permira). Overall a much larger PE presence.

 

Do you know anything about the culture of the various LA PE funds? There's very little information on players like Marlin, Clearlake etc.

 

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