Macquarie Capital - Principal Investing
Anyone have insight into this group?
Particularly concerned with industry focus, recent transactions, culture, position within the larger org, etc.
Thanks in advance!
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Hey simon2318, I'm the WSO Monkey Bot and I'm here since nobody responded to your thread! Bummer...could just be time of day or unlucky (or the question/topci is too vague or too specific). Maybe one of these topics will help:
Or maybe the following WSO members have something to say: calvin0070 @dcjones17" Joepohlkamp
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bump
I couldn't speak to recent deals or position within Macquarie as a whole, but I know someone who spent a bit of time there a few years ago. As far as industry goes, they were very heavy into infrastructure investing from what I remember. Also seem to remember getting an inbound from a recruiter about a position with them and remembered infra / renewables being a focus. Culturally, I think he enjoyed his experience (moved on shortly thereafter, but not do to not enjoying it).
Thanks, this is helpful
MacCap's PI looks across a multitude of sectors e.g. infra, TMT, etc and typically splits teams across industries. Juniors are kept largely within their teams but seem to be distributed to other teams on a needs basis. Culture would largely be dependent on location and I've never worked there so I am unable to provide any input.
You'll need to note that MacCap has reverted back to its merchant banking business model. The PI/PD teams look at investments opportunistically but are inadvertently motivated by the ability to add value through their advisory/financing abilities. Also, because of the merchant banking model, deployments are made out of balance sheet which would mean that a year could go by without any investments because funds are tied up. You can also expect to get your hands dirty with advisory-related work for other non-conflicting portfolio companies.
Never worked at MacCap but know a couple of guys on their PI/PD teams so my input is purely anecdotal.
Bump would love to hear more if anyone has any additional feedback, particularly in the US. Lifestyle / comp at the associate level would also be appreciated!
Looking at the Monday morning crew...
One more time
Bump - anyone have any insight?
Ran into this group on the other side of a healthcare deal They do a lot of growth equity/structured debt/structured equity type stuff, but not so much in tech. Not infrastructure either. Seems there's been a lot of turnover recently and there's some reorganizing which seems to having a negative effect on employment. Would be a great experience at the junior level for a couple years though.
Very helpful, appreciate the additional context. Being already on the buyside (investing senior, mezzanine, and equity co-investments) at an Audax Debt, PennantPrk, etc. would it be worthwhile to look into their principal finance team or is it less entiticing once you’re already at a buy side debt fund
It's worthwhile to look into but I think they'd prefer more of a focus on an equity background. Could be wrong though if they're looking to plug some holes. Couldn't hurt to go for it. Btw you're calling it principal finance but I am referring to the Principal investing and lending team within the Corporate and Asset Finance division.
I have worked w/ MacQ on a few deals. Once they looked at investing in the hospital platform I co-founded, and previously they brought deals to my PE fund where I was working (from their merchant banking division). I've always been super impressed by MacQ. Their willingness to be creative and use multiple aspects of the capital structure (from PE team), and their willingness to co-invest on the deals they packaged (merchant banking team) was so refreshing and compelling. MacQ is in my mind on similar level as GS - they have real balls and put skin in the game. Everyone else seems to just be a broker. MacQ and GS are merchant banks, and that to me carries a lot of weight. If you have the chance to join them, I'd take that opportunity very seriously.
Thank you for the additional info and context. Much appreciated
I used to work in Macquarie Capital. Comp is below street at the firm, especially within the IBD division where PTG (or whatever the principal investing team is called now) sits. There is also a very aggressive equity retention plan in place which I would say is off market.
The culture is good, I liked many of the people there - generally friendly people who are enjoyable to work with - and it’s a pretty flat organization. Hours are relatively good. But this is a very risk adverse, Australian-run and centric institution.
Investments will be across all different industries. Believe most of the investments in infra are handled by the infra IBD and funds team.
Really appreciate the additional context. Do you mind if I ask what comp is at the analysts / associate level and what the hours are? Considering the group and it’s be helpful to get that info prior. Thank you so much
Hours are good, believe that is the case with the principal investing team last I heard. But always depends on group/MD/etc.
Compensation data points below. Macquarie has a March 31st year end and your base pay increases going into effect July 1st, bonus paid beginning of May. Technically you get your bonus 6 months ahead of most banks, depending when you join you may be able to negotiate to your advantage. Pay bands aren’t very wide around the numbers I’m listing below.
AS1 $150k base, ~$70k bonus
AS2 $175k base, ~$105k bonus
AS3 $200k base, ~$130-150k bonus
Above ~$25k your bonus is retained at 25%. Above ~$75k your bonus is retained at 35%. Vests over a 4 year period with nothing Y1.
Any insight at all on the Principal investments team for Infrastructure in Macquarie Capital? Comp for analysts, workload, exposure etc? I think it is different than the PTG group above you mentioned, or the infra team is separate to some extent.
Bump, anyone have any insight into the real estate arm in particular of Macquarie Principal?
Is this the same as MIRA?
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