Most Sought-After PE in NYC/ vs. Other Locations
For one reason or another, what are most sought-after MF/UMM PE shops in NYC for an associate role?
Also, what are your thoughts on doing your PE associate in NYC vs. another major city?
this question can be answered by just browsing the forum for a couple hours and reading all the shitty prestige rankings lmao
BX KKR APO H&F
And then people who didn't get these/other MF offers will say they wanted MM funds for the culture -- mostly bullshitting. Source: MM associate
This is the right take and accurate if people are honest with themselves. Might take out APO as some people genuinely don’t want to go there vs. other MFs. Same with people that ultimately got MM banking offers after rejections from EB / BB.
ive never heard of anyone that said they went to MM ib for the culture or by choice. maybe ppl who struck out ib recruiting as a whole and went the consulting route say similar stuff
Agree except APO which I turned down for UMM because the extra 30% comp wasn't worth my soul and I don't just mean the hours but the verbal abuse. But agree regarding the rest
Would you say H&F because of how lean it is or other reasons?
Those four are definitely the most sought-after, but right after that you prolly got WP, CD&R, and Carlyle
TPG and Bain too, think beyond the first four the rest of the MFs aren't hugely different
Isn’t H&F top office in SF
Lean and really good returns, some of the smartest people on the street
H&F is completely underwater right now. Agree with KKR / BX PE. APO is very prestigious but people stray away because of reputation
Can you elaborate? From what I understand they bought out some of their porticos in the most recent fund at peak valuations, and their current performance is 3rd quartile. I’d like to know more if possible
Don’t forget the European megafunds in ny (permira, Eqt and CVC). Absolutely top tier experience and reputation
Would you consider Apax up here too?
Curious where TPG ranks in people's preceptions these days?
Platinum
elliot PE arm
GA
Not really ga doe
How is Berkshire Partners?
Pretty sought after.
According to a HH I know one of the most sought after non MFs. If you’re willing to be in Boston, great reputation, bschool placement, pay, and known to be one of the best associate programs out there.
Adding a few UMM names:
Apax, HG, Permira, Advent, Insight, GTCR
one way to sense check is to see how these places are viewed from the HF perspective
I know all the tiger cubs are massively down so please don’t respond with a bunch of pushback but these HFs have traditionally hired from what they think are the “best places” and it would be Bx, Apollo, KKR as a simple fact…and then everyone else
If you want a real example, look at Tiger, everyone there is basically from Blackstone or Apollo
Yeah but not as many end up at p72 or citadel which have done better. So if they are not hiring from bx/Apollo maybe those associates have to settle for the tiger/Pershing “beta exposure” funds instead because citadel thinks they cant generate alpha? Prob PE funds w/associate who get to citadel etc are a better indication of preestige
This feels like a joke so not going to bite too hard but the vast majority of associates at MFs are not at all interested in multimanager hedge funds, regardless of relative performance.
I have never heard of a top PE associate wanting to go to Citadel, P72, there is zero interest period
I think most people would support this above comment, or if there are current Bx and Apollo associates please comment…
You’re right Citadel has done very well especially last year, it’s a very smart business model and Ken knows what he’s doing but that has nothing to do with perceived prestige of public equity roles there
I am a PE associate in MF PE. Can confirm me and my cohort of classmates have no desire to go to the pod shops. Probably only under unique circumstances would we go
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