Thoughts on HarbourVest?
Anyone have any insight on HarbourVest in regards to culture, comp, prestige, WLB? I appreciate the color.
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Bump, what are hours like for private credit group?
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X
Secondary is the best team IMO with strong deal flow and a huge fund that compares to other top players like BX SP and Lexington. WLB mostly dependent on team, co-invest/secondary/credit will be 60-70+ hrs per week with weekend work during peak seasons.
Thank you. Any info on comp, exits, culture?
Comp is slightly below market for FoF, probably offset by not having to live in NYC. LMM and MM direct investing is definitely a realistic exit path if someone wants to go that way. Not many MF or UMM direct PE exits.
Are most of the top players 2-3 year programs then exit or is career track possible?
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At HV very large chunk of the MDs started at the firm as juniors on their respective teams. Not to say up or out isn't common, but making a career track is definitely a possibility. IP headcount has grown massively in the last few years though, so take that with a grain of salt.
Can't speak much on other firms, less familiar with tracks, but probably similar if I had to guess.
Pretty good shop
I know a couple people who work there and they say the place has gotten more sharp elbowed over the last few years and there are quite a few people who do their best to send weird vibes to any minorities. Overall good WLB since nobody wants to work weekends, and as far as reputation goes within secondaries it can’t be beat
What do you mean by "send weird vibes to minorities"?
Any examples?
Is it more senior folk doing this?
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Comp was at or slightly above market in London, last time I checked with a recruiter. Confirming the comment about sharp-elbowed culture. Not the happiest place but not the most miserable either. I have heard equivalent stories about peer firms e.g. StepStone.
Did you have any figures or details on what team was above market please ?
How did you assess that it was a sharp elbowed culture?
Morgan Stanley Investment Management is the firm that pays the most. HarbourVest was slightly below that. I could not access figures by team, just by firm.
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