Percheron Capital - Updated Thoughts?
Curious to hear thoughts on Percheron Capital? Golden Gate spinout with $3bn in AUM - predominantly a buy-and-build ownership approach. Info on them seems to be very limited across forums but I know they raised one of the biggest first-time funds in recent years.
Anyone have any insight on growth prospects, performance, culture, potential opportunities post-associate level? How is the firm perceived? How are the Partners? Any info would be greatly appreciated!
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Anyone hear back for this process yet?
Not yet
If you haven’t heard back I would assume it’s a rejection, they said the process would be quick and have seen some others move onto the next round
Great place to be a VP. Terrible for an associate role
Can you expand? Is it super hierarchical or just siloed?
.
Can you elaborate?
Deleted
Has anyone heard back after the model test?
Mind if I PM about the model test?
Can I PM about the model test?
Hey could I PM you about the process?
Mind if I PM you?
Does anyone have meaningful experience working with anyone on the team and/or know someone junior at the firm personally? Anything helps, thanks.
I know someone on the team very very well. They've grown very quickly due to a mix of hustle / personal connections from the co-founders (one in particular). They are a sharp team overall that's also very commercial, in a good way. Like some have said, it can be a grind as a junior but I wouldn't say I've heard any terrible horror stories. Culture is typical for a PE firm that is trying to continue scaling with large aspirations, especially with Golden Gate heritage. Is there something you'd like to know specifically?
Curious to hear if anyone has views on B-school placement potential, exit opps, and the overall learning experience for Associates? Is it more of a 'banker cranking' type of associate program, or do they give associates a lot of runway to share their own views on the businesses they work on?
Do you have any insight into why a handful of VPs/Principals apparently left after raising this latest fund?
Anyone know what’s going on here? They just raised a new fund and within the last month have had at least 3-4 VP/Principals depart. Seems a bit odd for a fund that just raised and that can’t have more have more than 20-25 on the investment team to begin with.
bump - saw this too
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Pay is still bad. Know someone who got a post-MBA SA offer for $350k cash.
SA as in Senior Aso.? Well below market - strange considering fund size
Yes senior associate with 1-2 years of post-MBA experience
Is that not market for SA's at a MM fund their size?
LMM shop serially buying $1-5M revenue businesses to build up their platforms. No surprise culture is sweaty. Heard non-partner deal professionals (including VPs) don’t even get to stay on portcos they close, and just constantly crank out micro cap buyouts.
HVAC, roofing, car-washes…they plowed into spaces crowded by a million independent sponsors, search funds and PE backed rollups. Hopefully they didn’t overpay but some of these industries saw 18-19x multiples at the peak for gdp growth businesses with a lot of employee churn risk. Anyone have any insight?
They are the definition of a generic buy-and-built fund. Wlb there is pretty sweaty because they do so many add-ons. They've definitely overpaid on some platforms and other assets, but if there's any generic buy-and-build fund that is decently positioned to weather the storm, imo it's them. They've built out legit BD and ops teams. From my experience, they're pretty good at scouring out unbanked add-ons to achieve multiple arbitrage, and their porfolio support group is legit, their portco assets that I'm aware of are actually integrated pretty well (unlike some other buy-and-build funds whose portcos are just a bundle of sticks).
Anyone here that can provide somewhat detailed insight into the associate experience, pay, etc?
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