Hi all, I am looking to get into the growth equity space in the Bay Area. What are the main players here and how does Permira rank against them? Any colour on work/life balance, comp as an Associate? Thanks very much!
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Does Permira have a separate team in Menlo for growth? My understanding was that it was covered by the regular PE team, but might be wrong. If covered by the regular PE team then yes it would be a tier 1 shop for TMT investing - they’ve had some great deals and have helped lead the way for Permira’s expansion into the US.
Comp is in the $275-325k range for first year associates. Working hours are long - it’s an active megafund, you’re not going there for the lifestyle. Culture I’m not as sure about other than from interviewing but seemed like an okay place, think people are generally more reserved / introverted but that’s pretty typical of PE as a whole
One team that does both growth and buyout
There is a dedicated growth team, but that is a fairly recent development (last few months) and has only become evident on their website recently.
If you look at their website w/ the Menlo team there will be a few people focused on PGO.
Thanks a lot! Any colour on culture, working hours, comp...?
There's other info I've written about Permira Menlo elsewhere but I'll rahash some and add some new stuff since then.
1. Woah: these guys are sweaty. Not just sweaty, but sharp. They're relentlessly thorough and never fail to tick through every scenario planning case with robot-like precision, both likely outcomes and the far-off possibilities of what could be. They have a strong sense of value and consider more when thinking about value than do most investors.
2. Permira Menlo is one of the few places where I would drop everything to work there. However, to provide more clarity on the sweaty aspect, they'll throw guys from around the world on Menlo deals. You do the math when you have a guy from London, Italy, Menlo, and somewhere in the East all jockeying for calendar space.
3. As for people, here are two datapoints: one of the VPs is a ball-buster but that makes for a good VP, and one of the associates is chill.
Can confirm the above is accurate on all accounts from working with them and having some firm alum there. Sweaty. Makes a sweaty banking experience look like a warm-up. Also echo the above that teams are active, globally-staffed, and most of everyone is extremely sharp.
Incredibly helpful, really appreciate the color.
If you are interviewing there, feel free to PM me.
Bump any other folks have views? How does Permira compare to other MFs?
Updates on Permira's Menlo team - culture, wlb, pay, exits?
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