Providence Equity Partners
Can anyone tell me about providence equity partners? Specifically the team in NY or BOS?
Thank you!
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Providence is collapsing. Avoid at all costs
Why do you say that?
? Any more context?
Good reputation. Nightmare to work for on sponsor sell-sides as a junior banker lol
Well respected especially amongst the older generation given their multi-decade history and size in the early 2000s (when it was mentioned in the same breadth as the other MFs).
However, post Fund 6, they legitimized themselves as a mid market media, software, and education growth buyout firm with consistent returns. Fund 7 was a strong fund for example.
Would say it’s far from collapsing and would emphasize they’ve found their niche (with particular differentiation in media and to a lesser extent in education).
Providence is done and has been for years. Terrible returns and deteriorating reputation.
TSG, their smaller growth strategy, is the only fund series worth looking at. Those returns have been rock solid.
You mean PSG?
Correct
Sorry, PSG! Thanks
Their last 2 funds seem to be performing pretty well (~30% and low ~20% gross IRRs) from pension docs. Curious why people say they are collapsing?
Anyone know how their latest fundraising for fund 9 is going?
It has gone absolutely abysmally. They are at 20% if their 8b target. People saying that the fund isn’t collapsing doesn’t know what they’re talking about. These guys are done and their portcos are marked way above market value inflating their fund returns. Just watch
Source for this?
This is inaccurate on multiple fronts. They went public with a $6B target and have already started to deploy in their latest fund (which would not make sense if they were sitting on 20%*8B = 1.6B of capital. I'm sure they're working through the challenging market like most funds, but would be hard pressed to think they wouldn't be around in 5-10 years based on your comment.
People on this forum think Thoma Bravo and KKR are on the verge of collapse too lol
Has anyone heard about 1st round interviews for 2025 here?
They started lol
A guy I know who worked in a top BB M&A group in NY said hours are way worse at Prov than what he was doing in IB
I mean thats how it goes in the UMM/MF space. Providence is known for being on the lighter side of things vs peers.
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