From other posts I've read Centerbridge is a group of smart investors that pay on the higher end compared to street. I also know they have a unique associate program where associates get to help invest across the capital structure and they were once on par with MF/UMMs. Seems like they missed their last fundraising goal but have still been deploying capital left and right over the past couple of years. Any idea on how returns are looking? I'm curious if they're on a rebound after restructuring and investing through market conditions where their strategy seems to shine. Any info if greatly appreciated!
Trending Content - Private Equity Forum
Career Resources
Interested to know more too
Issues fundraising after Gallogly stepped down raising $3bn for their latest PE fund (less than half their fund target). A few bad deals in oil and gas have been killing their returns on a couple funds and wiped their carry pool, which is shared across the platform. Aronson the sole managing principal remaining is spearheading a focus on private credit which they are in market for for a $6bn fund.
Given how fast they've deployed capital I think the determining factors to watch whether Centerbridge PE is making a comeback will be 1) how their next fundraise goes (my guess is it will be in late 2023 or early 2024) and 2) who takes over for Gallogly. The next fundraise should give us an idea of how their investments are currently doing since that's what they'll use to market to LPs. Going off of bios on their website and evaluating tenure + experience, the key people I'd focus on are: Matt Kabaker (was an MD at Blackstone with Gallogly), Jared Hendricks (joined in 2006), Shanshan (joined in 2007), Daniel Osnoss (joined in 2009).Note: I did this on my phone so may have missed some key people.
Bump
Explicabo esse accusamus molestiae dolores ea voluptatem sit. Recusandae placeat omnis reprehenderit quia ut recusandae et. Sed ut possimus numquam architecto aliquam. Et sed quos et nihil incidunt. Sed qui unde quia incidunt esse. Temporibus et et et magnam praesentium dolorem a quas.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...