Roark Capital
Saw the Subway acquisition recently. Heard great things about the firm and how rapidly it has grown. Can people chime in and discuss what they have heard about the firm since I have not been able to read much on about them on wso.
IMO, I would take Roark over every IB group expect for tier 1A shops (think CVP/PJT RSSG) but would take Roark over tier 1B shops (think MOE/LAZ).
>Tier 1A shops
>Tier 1B shops
this is so gay
Congrats on Guggenheim
As far as I know, they've got a NYC office but most of the folks are in Atlanta. They've solidified themselves as the fast food franchise PE fund but...this seems quite niche. Per Preqin/PitchBook, their previous funds' performance is 3rd and 4th quartile. Pretty grim. I'm not sure what their rep is nowadays but I'm confused by the other poster who commented above about taking Roark over any other IB group. That's wild. I mean, if you plan to be in ATL long-term, sure why not. It's good pay and steady living. But if you want more varied experience, I'd imagine you'd look elsewhere.
Do they just have crazy co-invest terms with deep pocketed middle eastern SWFs?
They’ve done a few of these $10B deals and have a $5B fund so I just don’t understand the math…
Have heard it’s pretty sweaty
Interviewed there for SA 24.
Everyone I might was very nice and friendly, and many of their higher ups have been there for an extended period of time.
Focused on consumer facing franchises like restaurants but also own OrangeTheory, auto repair franchises, and (some) business services too. Vast majority of their work is in food franchises though.
Holding period tends to be longer. They shoot for 5-7 years so might be a bit of a turnoff if you’re trying to find a shop to stay at for a while considering it’ll take longer for your carry to vest.
Also interested in what people think about its analyst program. Roark fits in MM/UMM PE area so definitely a competitive spot among IB groups.
Yea interested in how analyst years there would differ in work, comp, wlb, and career trajectory vs a typical BB/EB stint
They have big name PortCos and are undoubtedly leader in restaurant chains but look at their exits — there are only a handful so should tell you something
Heard they slap
I would just work there for the free subways
Buddy of mine exited somewhat recently - great place if you’re interested in the franchise space (and perhaps consumer more broadly). Obviously Subway was an incredible deal, as was Dunkin’, etc. and they get pretty operationally involved
Have heard the culture is awful though - extreme sweatshop, you basically have to live and breathe Roark 24/7/365. Everyone VP+ worships the founder which partially contributes to a banking-esque neuroticism and sweatiness. Also not supportive of recruiting (obviously) so you’ll have a more difficult time exiting. Unless you’re super into franchise businesses, I wouldn’t take an offer there out of undergrad over any mid-tier+ banking offer. Definitely not vs. a GS/MS/JPM or reputable EB. Lose a lot of optionally and you’re stuck in Atlanta (assuming no preexisting ties).
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