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Avoid. 4th quartile returns for last fund, at danger of being a zombie fund. Culture doesn't seem too great. The only big pro is that they promote to senior associate, but unsure how appealing that is for a potential zombie fund. There are so many UMM firms, even just in Boston, that are not fourth quartile that also do HC investing to where not sure why you'd take a THL offer if at a top BB/EB. Would hold out and keep recruiting.
Talked with one of the seniors working in an LP and she told me every senior at THL got paid well as in carry, so not entirely sure if that is the case as you said
What firm is there where seniors do not get paid in carry?
What she told me there are some seniors at some firms that are not getting paid
You should never talk to her again and find a better source
They had an exodus of seniors recently
They just raised $6+ billion so there may be room for recovery
That's their first fund in 5 years and they have to knock this out of the park to continue surviving. It's ultimately up to you, but would rather be at another UMM PE that doesn't have the mark of a fourth quartile last fund; which by definition is most of them.
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