Paceline Equity Partners (Dallas, TX)
Does anyone know anything about these guys? Outside of their website, I can’t find much. They raised a $870 Fund II recently. Would love to hear if anybody has a friend that works there and knows what exit opportunities are like. Is Paceline basically like another Peak Rock (Austin)?
Yes. Just check the past comments on here and turnover on LinkedIn. It may make sense if you really want to be in PE in Dallas, otherwise I’d consider other options if you have them.
Latest comments are from ‘22 on here. Why would it only make sense if you are targeting PE in Dallas? Would exit opportunities be limited and why? Thanks in advance
My point being, the PE community in Dallas is small and opportunities are few and far between. So, if you are in process or have an offer and are dead set on being in Dallas, you could rationalize it. I can’t speak to exit opportunities, I’m sure they’re fine, although the goal is for the firm you land at to be the exit in an ideal world.
In terms of the firm, these guys are not thought of very highly and from what I know from a friend that worked there, I would look elsewhere if you’re focused on optimizing your development and experience.
Thanks for the detail. Always god to hear other people’s thoughts
No problem. I don’t want to make your decision and certainly don’t want to speak on a firm I’ve never personally worked at, but if you’re seriously considering, it may be worth reaching out to former team members on LinkedIn so you at least know what you’re getting into. Just my 2c
Have heard anecdotally it's very sweaty but don't know anyone directly that has worked there. Was surprised given how many (or better said how few) deals they have actually closed on the PE strategy
They spun out of Lone Star's asset management group, they have had some turn over (including one of the co-founders who is married to the CIO) and haven't done much PE, mostly have bought hotels and some debt in Fund II.
Fundraising has been terrible, both for the primary funds and the CV attempts
To be fair, the CV they were doing through Lincoln was pulled by them even though there was buyer interest. The core LP behind that one deal was GCM and they wanted some absurd return which all buyers saw through. They bought the business for 4x EBITDA and did absolutely nothing to integrate the single business they acquired and then claimed it was worth 8x EBITDA. Pretty much no synergies and no organic growth. Buyers were at like 80 cents but they wouldn't budge below 102% of NAV. Overall just a weird situation.
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