Thoughts on Banyan Capital Partners (Toronto)
As the title says, was wondering everyone's thoughts on Banyan Capital Partners and their overall reputation. I am exploring a potential employment opportunity with them, however; if anyone has any details as to the firm that would be helpful.
From my review it appears that they only do a few acquisitions, and have a more indefinite hold strategy (similar to an evergreen fund). As someone coming from a MM investment bank, I want some advice if this is a good jump career wise.
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Since they buy / hold would this be an issue if I were to try to jump to a large more buyout focused fund?
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Being a subsidiary of CC&L, they seem to have sufficient funding, however; I do not think I would get any significant exposure to fund origination / capital raising.
Any advice would be greatly appreciate thanks.
It depends what kind of large buyout fund you want to go to. Brookfield / Altas / Onex, probably not. Birch Hill / TorQuest / Imperial, sure.
They’re a pretty under the radar fund, and do have the ability to write sizeable cheques. I don’t think their team is bad, but they aren’t anything to write hope about. They have some supplement distribution business, but I don’t really know their mandate.
CC&L has way more AUM than people give them credit for, so I think there is potential there if they want given their investor base at the firm level is all institutions who want PE exposure
Going from Bayan to any of the firms you mentioned to me seems incredibly unlikely, almost bordering on impossible. Managing Directors have somewhat interesting backgrounds and the CCL backing is important.
When you start to look at the bulk of their people - looks like it is mostly an exit for Big 4 advisory and true MM/sector focused Canadian banks with someone occasionally from Big 5.
Whether its a good move for op depends really what MM they are at, if its CG (idk if this is really considered a MM bank) on the div team you could do better, otherwise its not a bad exit opportunity from like a Cormark or Stifel type place.
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CC&L Infra is pretty much the same kind of seat - its mostly an exit for middle-office or FO big 4 employees who want to get into investing. Look at the difference between the people getting looks at CPP Infra/OTPP Infra/Brookfield and the people who are at CC&L Infra. It is a good job - but its unlikely to be a likely pathway to going upstream in finance.
I agree it isn’t a high probability, but it is possible as there is overlap on sector focus.
Appreciate the comments everyone - ultimately the non-large PE names (Birch Hill, TorQuest, etc) identified, Altas, and Forum are funds I am targeting at this time given that my bank has a ton of sector overlap (mostly industry agnostic) and existing relationships. I think from these comments its clear that jumping to Banyan would be a harder sell to those funds, rather than just continuing to network from my IB role at this time.
Would exercise caution with Forum. Have consistently heard bad things - they work people too hard and pay them too little for how unknown they are
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