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Does anyone have experience with ? Interested to learn more about their culture, brand equity, people, deals, comp? Any information would be great.
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Interested in comps as well
Edit: OP for some reason changed the post to be about Advent. The below was about PSG
They're at a pretty interesting firm inflection point. They've been incredibly successful doing these super gritty LMM roll ups and then selling the bundled company for a huge return - see deals like Ministry Brands, Payrix, Divvy Cloud, etc.
That said, they've been moving up market very rapidly ($4.5B latest fund when previous funds were closer to $1B). They've also been more aggressive buying bigger companies rather than their previous LMM focus.
My personal doubt would be that they try to go too big too fast (see Providence Equity historical funds) and get away from their bread and butter, but if they're able to continue with their current return profiles then they'll continue to grow really well. Would be curious how the leadership would justify their ability to perform well as they go after bigger deals.
It's an interesting mandate because they do everything from growthy venture-esque deals to full buyoutsIt's also incredibly sweaty because they look at everything and are constantly doing ads-ons
What? Advent has like 20bn+ funds who are you talking about
No idea why but OP edited the post - was about PSG originally
yeah I was gonna say the same thing. This was about Providence Strategic Growth
Thanks! This is really helpful. Who would you say their comps are?
Not the guy you're replying to, but K1 and Greater Sum Ventures are other players who I've seen running this LMM buy-and-build strategy.
Note: OP originally posted about Providence Strategic Growth then changed it to Advent
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