Managers who are underwhelming that raise large funds
Curious who people think are the most overhyped firm (from a returns perspective). Top of my list is Bain and Oaktree.
Curious who people think are the most overhyped firm (from a returns perspective). Top of my list is Bain and Oaktree.
| +71 | Does anyone believe their firm has a true competitive edge | 36 | 8h |
| +42 | Lateraling at senior associate / VP level | 11 | 2d |
| +24 | Ares buying LGP...now what? | 6 | 3h |
| +24 | Do you regret doing PE? | 17 | 6h |
| +23 | Imposter Syndrome: PE to Publics | 4 | 15h |
| +14 | Francisco Partners Fundraise | 6 | 10h |
| +14 | Do PE VPs Always Have An Associate Under Them? | 6 | 1h |
| +14 | Setting the right LBO entry multiple without information | 3 | 3d |
| +12 | GTCR vs BDT MSD vs MDP | 9 | 11h |
| MBA to EM Infra Investing? | 3 | 21h |
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TPG has had some pretty bad returns. I don't think Warburg has ever pulled a first quartile fund (although they haven't had a fourth quartile one either so at least they've been consistently average).
Hasn’t Warburg raised like 10+ funds? Does being consistently average mean outperformance from a long-term standpoint? I’m wondering if this is what allows Partners there to print carry dollars given consistency of fundraising / performance vs. Funds that have super volatile performance (i.e., 1st quartile one vintage then 4th quartile the next vintage).
Yes, they have. And it could mean that. I think a lot of LPs really value consistency.
A "guaranteed" ~15% IRR on a MF's commitment is probably more attractive than a commitment to a MM fund that you think might be as likely to land a goose egg as it is to generate a 30% IRR.
What’s wrong with Bain post GFC? Presume you’re talking about fund XII since XI was top quartile?
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