Minneapolis Private Equity / Other Finance

Want to start by saying how great of a resource WSO has been over the past 10 years for myself personally and all others who I've seen benefit from all the positive feedback and collaboration on the site. What an awesome community. 


I'm looking to make a transition to the Twin Cities (which is home for me) in the coming months. I currently work at a private equity fund (5 years of PE experience, ignore title above) along with a couple years of investment banking prior to my current role.

I'm aware that the finance world in Minneapolis is fairly small (but a good tight knit community) and I'm curious to know if anyone has any recommendations on firms to network with or that may be hiring in the near term.

My preference is a lateral move within PE, but given those firms/roles are few and far between (compared to other cities), I'm also open to other relevant roles at junior capital/mezz funds, HF, family offices, IB, institutional LPs (allocating to PE/HF), corporate development, etc. 

Thanks in advance I really appreciate any feedback/introductions (if you are at one of these types of firms it would be great to connect)

 
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Not sure who is hiring, but I know the area well. Here are some names that came to mind (with the assistance of a quick LinkedIn seach). YMMV on firm quality and trajectory. AUM might not be current.

The multibillion platforms (including non-PE):

- Varde ($13bn)

- Castlelake ($22bn)

- CarVal ($16bn)

- Norwest Equity + Mezz (unsure of AUM after combo)

- Pine River ($4bn)

- Walleye ($5bn)

- Garda ($10bn)

- Proterra ($4bn)

- Whitebox ($10bn)

- Yukon ($1-2 bn)

- Shoreview ($1-2 bn)

- Winslow ($17bn)

Other smaller or off the beaten path names (again, not just PE) include:

- McGinty

- GMB Mezz

- Arthur Ventures

- O'Brien-Staley

- Estuary Capital

- Northern Pacific Group

- Hunter Street

- Deepwater (fka Loup)

- Thrivent's PE group

- Vensana

- Newbound

- Carlson Private Capital

- Pohlad Companies

- Piper Merchant Banking Group

- Prudential Private Capital

- Tonka Bay

- TT Capital Partners

- Excelsior Energy Capital

- Matchstick

- Goldner Hawn

- Traction Capital

 

Not sure who is hiring, but I know the area well. Here are some names that came to mind (with the assistance of a quick LinkedIn seach). YMMV on firm quality and trajectory. AUM might not be current.

The multibillion platforms (including non-PE):

- Varde ($13bn)

- Castlelake ($22bn)

- CarVal ($16bn) - pretty sure they are winding down

- Norwest Equity + Mezz (unsure of AUM after combo) - strongest fund in the TC

- Pine River ($4bn)

- Walleye ($5bn)

- Garda ($10bn)

- Proterra ($4bn)

- Whitebox ($10bn)

- Yukon ($1-2 bn) - very strong MM mezz fund, usually are hiring or interested in talking with VPs and Associates

- Shoreview ($1-2 bn) - right behind NEP in terms of the best buyout funds in the metro. Good track record, strong in buy and build, good culture

- Winslow ($17bn)

Other smaller or off the beaten path names (again, not just PE) include:

- McGinty

- GMB Mezz - solid LMM mezz fund, had some succession issues, but seems to be on better footing at the moment

- Arthur Ventures

- O'Brien-Staley

- Estuary Capital

- Northern Pacific Group - flegling fund with poor culture and mediocre reputation

- Hunter Street - mostly co-investors for traditional businesses, not sure about RE

- Deepwater (fka Loup)

- Thrivent's PE group - Fund of Funds, good lifestyle, not as interesting of work for some

- Vensana

- Newbound

- Carlson Private Capital - have been hiring recently, mostly to replace people leaving to B-School and other funds

- Pohlad Companies - claiming to start trying to get more active in direct investing, but historically are not that active

- Piper Merchant Banking Group - decently active group, mostly internal promotes

- Prudential Private Capital - small team, may not be hiring, but good people to network with

- Tonka Bay - good guys, LMM SBIC that does buyouts, track record is good, not great

- TT Capital Partners - good HC-focused LMM fund

- Excelsior Energy Capital

- Matchstick - VC

- Goldner Hawn - would stay away

- Traction Capital - would stay away

Put some notes in the above names and below based on my experience. A few others that weren't on the list:

Northstar Capital - solid mezz fund, similar to GMB

Northcoast Mezz - new SBIC fund, came out of Spell Mezz (Spell isn't doing much these days)

Convergent Capital - smaller mezz fund

Brass Ring Capital - small SBIC buyout fund

Northern Lakes Capital - part of Stone Arch Capital spin out

Great River Company - other part of Stone Arch Capital spin out

Granite Equity - St. Cloud-based, not sure if they are still investing, did mostly regional LMM buyouts

Lake Country Capital - SBIC mezz fund, not sure of track record

Lightspring Capital - SBIC Mezz fund, ex-GMB

 

Great callouts. Between all of the strong credit shops, the PE scene, the former Cargill/Black River funds, interesting HF seats, VC opportunities, and plenty of RE firms one can build a great career in MN. Add in the IB (PSC, HL IB/RX, HW, etc.) and consulting (McKinsey, BCG) presence in addition to some very compelling corp dev teams (UHG, Cargill) and you have an awesome city for financial professionals. People from the coasts and other large cities have no clue how good the life can be in Minneapolis and the western suburbs, and I selfishly hope it stays that way.

 

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