Lone Star Funds hours and culture?
Interested in large industrials funds and have seen Lone Star is pretty active in the space. Any info on culture and hours would be greatly appreciated.
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Worked as buyside advisor for them in London. Worst culture I've ever witnessed during a deal.
Treated advisors like absolute dogs. However, to their credit, I have to say that they worked equally long hours - so at least their was a sense of equity.
The MBB firm staffed on the deal hated them so much that they flatout ignored work requests from them. I have never heard a MBB partner push back so hard on requests ...
Unless you want to do hardcore industrials PE and you don't mind banking work culture, I would look elsewhere.
Thank you for your response. Would you mind sharing how long ago this was? Any insight on NYC culture as well?
Interesting.
Just lots of sh*tty requests at last minute and weekend work?
Friend currently with Lone Star in NYC... very hierarchical and everyone dresses up / plays into the part. Bro-heavy for sure, but do very well. For some people, that's exactly what they are looking for and want, but others would hate it
Any idea of hours / WLB and perks?
My friend works in their North America PE group and I was on the other side of a deal from them before. It’s a smaller team relative to their fund/AUM size so that means when there is a deal, they can get stretched really thin. They’re not so much face time oriented, but their underwriting/diligence is intense when on a deal. My friend basically had their entire summer off last year when things were slow and
That said, if you’re into industrials, these guys are really sharp and work on some of the most complex and interesting deals in the space. They have had strong consistent returns. Very low key firm, I think by design.
dlt
Haha unrelated and idk shit but just listened to a recent Capital Allocators podcast - the guy Andy Lee was some child prodigy who spun off a fund from Lone Star Funds to focus on this niche space called Tax Receivables Agreements (TRAs). As echoed by others, seems to have strength in underwriting and sourcing. Creativity in these sort of niche asset classes are also cool.
I've met Andy - that's a really cool strategy for sure, and yes, really smart dude.
Haha cool! Hope to see you on a Capital Allocators episode
Familiar with london office (former employee). The culture is not nearly as bad as some comments may suggest, although it may not suit everyone. The environment is rather individualistic with few perks/team events/drinks. However, this also means that once you finish your work, you can leave without pressure for face time. Depends what you’re after. The number of hours worked depends on the period. If you're not working on a deal, the hours are very reasonable. But if you're on a deal, given the small team and the types of deals (complex carve-outs / situations others stay away from), the hours are long. Don’t disagree on treatment of consultants / bankers raised above, but it does help to ease the stress on juniors, and they do get their $$ so should just allocate more resources to their team when needed… Comp is competitive in line with other UMM/MFs (above quite a few large funds but not as high as some known outliers). If you’re interested in the industrials space (especially the more asset heavy side rather than business services) they are among the very best funds especially in Europe. Should also note the team is split into investments and portfolio management, all comments before relate to the investments team. Portfolio management team does the reporting for existing investments and hires more from big4 than banking and its quite relaxed
Very helpful. Any insight of the NYC and DAL offices?
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Thanks! Any insight into whether investment professionals in London are split between real estate and private equity, or they do both? And are junior IPs technically working for Lone Star or Hudson Advisors in London?
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