Lone Star Funds / Hudson Advisors 2023
Haven’t seen a recent thread on them, does anyone have any insight on their PE arm? Have an interview with them coming up.
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Don't know too much about lone star but I recently interviewed with one of their most recent spin outs started by their former PE head. I heard that the interview I went through was very similar to Lone Star. Initial interview and then case immediately after, which I found pretty challenging given the time. Part one is a nuanced lbo and brief write up given limited information and part two is a lending oriented model. Have to complete both parts within ~48 hours.
Could you please elaborate on the lending oriented model? Had you seen something like that before?
I had not. I hate seeing this mentioned because it's just someone pushing their own website, but from what I saw on the website REMOVED. It looks almost the exact same as the test I'm referring to and level of difficulty. PM me and I can provide more details on the model
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Who is the headhunter for Lone Star / Hudson Advisors?
Bellcast
Thanks
Did you end up interviewing? Would be curious to know about the process.
Yes. There were two very technical first rounds and a 2.5 hour modeling test afterwards. I did not make it past that round but know there is a debrief and other senior conversations if those go well. It seems like a big fund that goes under the radar and has little info. Met some sharp people but unsure on culture, comp, and general prestige / exits.
Interesting, thanks for sharing. Was this NYC or Dallas, elsewhere? And are they doing buyouts or structure capital? I'm unfamiliar but might apply.
NYC. They do buyouts but may also invest in other securities / structures as well
Limited info as I only did two interviews that were super technical, didn’t make it past that round. One of the guys I interviewed with mentioned that he likes the culture a lot since he came over from a sweatshop and it’s been much better (he was a VP). Just one reference point tho
Glad I wasn’t the only one who found it challenging. I’m surprised by your comment on culture as it seemed like a sharp-elbowed, intense environment. I assumed hours were bad
I’ve never understood the Hudson advisors / lone star thing - can anyone explain why they aren’t just paying associates from the same company like every other fund does?
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I got pretty far with them in a process last year for a VP position. I asked about this with everyone I met and the short answer was there's really no difference between Lone Star and Hudson and the guys that work there, all of them, don't think about it twice but they recognize it's an odd thing to the outside sometimes. I asked why it's even the case and from what I gathered it's due to some legacy arrangement from ages ago with their LPs on how their management or monitoring fees work.
That’s helpful. Any idea of culture, comp, reputation, etc?
I don't know about comp as I didn't discuss an offer with them.
On reputation - super solid. I spoke to some friends at BBs in industrial groups and the impression I got was the Lone Star was very sophisticated with a knack for big, complex deals. They usually transact in UMM & MF territory from what I gathered. They've also been around for a long time raising multiple funds, and that doesn't happen without long term good returns. For reasons I didn't fully understand, they are just really under the radar and don't do much publicity so people are less familiar with them.
On culture - hard to gauge from an interview process but everyone seemed nice albeit it seems like everyone also works really hard.
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