Thoughts on THL?
Seems like an interesting fund and was curious to learn more. Couldn’t find much on performance but seems to have a good reputation and interesting portcos.
Trending Content - Private Equity Forum
Career Resources
All I've heard is that they like to hang around processes lol. Would be curious to hear more though
Solid firm. Might have had performance issues back around the financial crisis given that they went from $8B down to under $3B but they've done rather well recently. Seems pretty sweaty from what I've heard from friends. Probably not Audax bad but wouldn't call them a lifestyle shop. As the person above commented, I've heard they do a lot of work on deals. Teams are siloed so probably worth trying to get insight on how culture varies across groups. Pretty good HBS pipeline, likely aided by Boston location and partners' networks.
Positives: Have done a lot to revamp the approach (everything is "x and tech" now, e.g. industrials & industrial tech, financial services & fintech, etc.) and automation fund is an interesting category as a growth sidecar although robotics bets are quite hard to scale. Performance lagged a bit, seems to have righted recently from what I can tell but maybe not fully mature in recent funds.
Negatives/questions: Pretty individualistic place, partners & principals seem to come-and-go constantly, and no unification around culture. It's less of a sourcing-driven model than notorious growth shops like TA/Summit, but still a bit of eat what you kill / political / sharp elbowed culture. Real mix of experiences because it's so disparate as a junior person. Some folks have great experiences, some have terrible, just depends who you work for.
Overall: Definitely not a bad place, but doesn't seem to have the same reputation as larger Boston funds like Advent/Bain or even comparably sized Boston funds like Berkshire. More in the Charlesbank/Cove Hill/Audax category reputationally (although each has their own approach), which is still solid overall. "Prestige" is stupid, if you love the vibe you're getting then go there, but if you value reputational halo / brand longevity the first three are a bit stronger, and there may be some reason for that but I don't know enough to put my exact finger on it.
Culture definitely lags that of the Advent/Bain/Berkshire group from what I've heard from friends at those firms. Seems like a fine name to start a career but not sure about longer-term progression. Is their junior turnover also high? Helpful write-up +1.
I think there's some amount of turnover, but not crazy high. Most of the firms in the Boston scene are pretty good about supporting business school placement, which is an incentive for folks to stick around to get the letter of recommendation and then of course some feeling of indebtedness to not leave once they get admitted. Better barometer is probably how many VPs and Principals started as associates IMO, good indicator of whether or not it's the kind of place people want to be long-term and/or if the firm has something structural to its design that turns the mid-level positions into revolving doors.
Know your overlap with them may be limited to one team, but any idea which of the groups has strong culture?
Qui aut dignissimos nobis atque earum ipsam sint quod. Repellat officiis non atque adipisci similique sunt. Nostrum corporis dignissimos hic voluptas. Dolorum laboriosam quibusdam magni labore adipisci itaque quibusdam. Amet est error ex adipisci.
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...