Does anybody have any insight on what associate comp looks like for lmm pe in Nashville or a similar sized city? Most of the funds are healthcare focused with a recent fund size between 100-500M. Also curious on how comp progresses at these type of shops. Cheers
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Are you in Nashville now?
No I am in another southern city, looking to make the move to Nashville. Just have literally 0 points of reference on PE comp in the area.
Would expand to look at healthcare VC too in Nashville. Has some prolific investors / big names and many of these firms know each other well (since it is a relatively small city). Comp is lower, from my understanding it's low 100s base. Bonus can vary.
A lot of the healthcare buyside jobs are given through networking (you have to know someone to get far into their processes), near impossible to get through cold application. It is the center of for-profit healthcare in America. Even if buyside jobs are scarce, historically Nashville healthcare companies are often on the hunt for talented individuals in finance / strategy oriented roles.
Thank you very much for sharing. How would you say comp between ib and vc/pe vary in Nashville? I have seen that there are a few strong banks in the city Brentwood Capital Advisors and Bailey & Co. Would you expect comp to be higher in banking at the senior level? Since there are so many for profit healthcare companies, I would think M&A guys would make a killing.
Eh not so much in this high interest rate enironment but I get the sense that Nashville was an awesome place for M&A in the late 2010s. I have no clue about senior comp for either IB / PE in the city's HC scene.
Both of those banks pay below street, but Bailey has some better upside in terms of cash bonuses for good years. Brentwood is in some real trouble. I've heard the culture sucks and there are some questions about if it will even be around in a few years. Several top origination MDs have left in the past couple of years. Old and tired guys left and half of them are bitter and unhappy with the firm.
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Have an opportunity there would love to talk in dms
Go for it
LFM Capital is one of the best performing funds in the US. Believe all of their funds are over a 40% IRR and 3.5-4x net and they've had multiple realizations the past few years at huge exits despite the horrible M&A environment. Former operations/MIT guys who focus on industrial/manufacturing.
Any insight into LFM’s associate comp or comp at other similar Nashville funds?
LFM Comp: $120k base 50% bonus target
Source: headhunter
Any insight into what hours look like at LFM or similar Nashville sized funds?
Any insight into hours at LFM or other similar sized so Nashville shops?
Are there any good tech funds in Nashville?
Edison Partners has an office
What do you guys know about Brentwood capital advisors any insight on them
Shit show right now. Lots of senior turnover, even more coming soon.
Any idea inside, comp, hours culture? Would you say stay away?
Idk. I know someone who recently lateralled to the firm after a stint in HC banking in NYC (senior associate / VP level). They must be doing something right.
And? Did he leave his former bank by choice? He chose to leave NYC for Nashville; there are only a few options if you stay in banking. Did he ask about the recent turmoil?
I know firsthand that several additional people are looking to leave. That doesn't bode well.
Anyone know if there are any decent software/technology funds in Nashville? Seems like mostly HC or manufacturing.
Depending what in healthcare specifically you like, but rubicon seems like a pretty solid place IMO. Think the top guy’s background is cool and their strategy is interesting
Adam Boehler being tied so closely to Trump has given a number of LPs pause. Him being so focused on Medicare Advantage could also lead to issues as we see more details emerge from this administation/their views on HC policy. Rubicon is also the kind of shop that does everything from incubation to buyout, so certainly not for allocators that like bucketing GPs into certain categories/focus areas. Performance has been mixed at best, culture isn't great (nothing like living in Nashville and grinding out the same hours as those in NYC) and the waterfall is suuuuper mixed given how many external stakeholders there are of the firm.
My 2 cents is it won't be pretty in the years to come.
There's a lot of funds in Nashville who's angle is tied to Medicare or some sort of regulatory angle to produce returns. Frist Cressey is another more on the VC side but still same idea, where there home runs have been because they know where the puck is going legislation/regulatory wise and get out in front of it, not because of some amazing new tech or operational genius.
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