How would you compare Onex, New Mountain, EQT, and Golden Gate in terms of industry reputation / brand? If you got a PE associate offer from all, which would you choose?
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All solid, but would take the American-based funds versus non-American, just out of familiarity. From there, would take Golden Gate if I wanted to be on the West Coast or New Mountain if I wanted to be on the East Coast.
Again, all solid and would be incredibly fortunate to have an offer at all places.
Agreed with the above. Onex and EQT are both probably more important than GGC or NMC in a global sense but if you live in the U.S. the latter are more well known and better respected. It's really a matter of which coast you want to be on as both are considered pretty high quality UMM firms. Anecdotally I've heard culture at GGC is kind of cut throat but their fund structure is pretty unique and they do some really interesting investments. NMC is probably more of a traditional PE experience.
I wouldn't discount EQT. With a >$16bn fund target and as a publicly traded PE firm, they are in a respectable league of their own.
They have also invested heavily in a US presence and will likely to continue to build that out. E.g. the $2.7bn Waystar acquisition from Bain Cap along with CPPIB. Substantial and growing TMT/healthcare presence in the US.
Also may offer better W/L balance due to a more European culture.
I would put Onex aside and look at the other 3:
EQT is becoming quite well known on a global level and they are also known to promote associates directly (I believe they only have 3 levels). I think they also have some nice co-investment options for associates. I would go here as the best lifestyle choice, while still working on fairly interesting transactions and not really giving up much pay wise.
NMC probably has the best name of any of these on the east coast and in NY specifically. They tend to hire associates who are quite sociable / from the more “fratty” groups on the street. That being said, they do work you quite hard. I’ve seen NMC promote directly without an MBA as well but it is more rare.
Golden Gate is probably the most “prestigious” of the firms listed if that’s your thing. Can’t speak too much in depth on the culture, but the person I know who worked with them for a few years wasn’t jaded by the experience, so it couldn’t have been too bad. In the US they take a mix of consultants and bankers and are usually one of the first processes to kick off (at least historically).
Why put Onex aside?
Also not sure golden gate has a presence in London...
Would agree with the rest though
Thanks for calling me out on this, I was confusing GG and Francisco Partners, and FP is the one with a London office, my bad. The other points on Golden Gate still hold true.
Onex in my view is just a tier below these others in terms of brand value, comp, etc. They brought in a senior guy from Barclays a few years back and have been strengthening their non Canada presence, so things do seem to be improving for sure. That's by no means suggesting it isn't a great place to be at, I just think at the associate level the others mentioned are stronger.
Do these all recruit off cycle?
Anyone have any idea which headhunters cover these firms?
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