GIP, KKR, BX, EQT, and Brookfield generally seen as leaders given fund size but many of the others have done exceptionally well especially some with more of an industry tilt.
Don't think you can bucket IFM as Mid-cap. While they target Core returns, they invest out of their USD 55- 70Bn funds. While you might say their open-ended structure isn't a like-for-like, they're also known to do large ticket sizes -> see Switch DC is US
This is a list of everyone who’s in it, but not every one of these firms is a top investor.
Take a good long look at each of the less well known names’ last fundraise amount vs the prior fund, how long they took to close that fund, and for those that are publicly traded, their stock price.
some areas of infrastructure have had immense macro and secular tailwinds for the last couple of years, and if a firm has a large concentration in any of those tailwinds but isn’t doing well in the aforementioned metrics, you should ask yourself why.
If they’ve been investing in a hot space but unable to deliver much exits, you should ask yourself why.
If they have had high turnover despite one of the worst multi-year job market downturns in a while, you should again ask yourself why
This is a list of everyone who’s in it, but not every one of these firms is a top investor.
Take a good long look at each of the less well known names’ last fundraise amount vs the prior fund, how long they took to close that fund, and for those that are publicly traded, their stock price.
some areas of infrastructure have had immense macro and secular tailwinds for the last couple of years, and if a firm has a large concentration in any of those tailwinds but isn’t doing well in the aforementioned metrics, you should ask yourself why.
If they’ve been investing in a hot space but unable to deliver much exits, you should ask yourself why.
If they have had high turnover despite one of the worst multi-year job market downturns in a while, you should again ask yourself why
Ok I’ll bite since this is a really good comment (and the guys at Generate will throw MS at me regardless)
Share price issues: DB and Antin (maybe Brookfield too)…what is the story with DB tanking?
High turnover: All of them at junior levels? Unless this is a comment about partner level
DPI / exits issues: probably some of the smaller names on the list?
Digital bridge is good but only does platform level deals. Just got bought by SoftBank so unsure how things will change from a comp / culture standpoint. Blue Owl has a group that focusses more on asset level. They do some wholeco deals in fiber and other digital related businesses but they have their 3 main data center PortCos and do asset deals via those
Haven't been getting additional capital from their investors to deploy in new platforms (OTPP, StepStone, and Alphabet) and have had senior departures (incl. Jonathan Winer, the co-founder).
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Not exhaustive and focused on investors with a US presence:
Large cap: KKR, GIP (Blackrock), Blackstone, EQT, Brookfield, Stonepeak, Digitalbridge (digital tilt), MAM
Mid-cap: ISquared, Antin, IFM (core tilt), Arclight (energy tilt), Igneo, InfraRed, Basalt, ECP (energy tilt), EIG (energy tilt), Quantum (energy), CIP (renewables tilt)
GIP, KKR, BX, EQT, and Brookfield generally seen as leaders given fund size but many of the others have done exceptionally well especially some with more of an industry tilt.
thanks, this is very helpful
Brookfield's pay is ass tho, and they gotta wear suits and ties everyday.
Don't think you can bucket IFM as Mid-cap. While they target Core returns, they invest out of their USD 55- 70Bn funds. While you might say their open-ended structure isn't a like-for-like, they're also known to do large ticket sizes -> see Switch DC is US
Would DigitalBridge fit in with the rest of the large cap group here?
Any insights into ECP?
This is a list of everyone who’s in it, but not every one of these firms is a top investor.
Take a good long look at each of the less well known names’ last fundraise amount vs the prior fund, how long they took to close that fund, and for those that are publicly traded, their stock price.
some areas of infrastructure have had immense macro and secular tailwinds for the last couple of years, and if a firm has a large concentration in any of those tailwinds but isn’t doing well in the aforementioned metrics, you should ask yourself why.
If they’ve been investing in a hot space but unable to deliver much exits, you should ask yourself why.
If they have had high turnover despite one of the worst multi-year job market downturns in a while, you should again ask yourself why
can u just tell me so i don’t have to do the research please. im hungover
Ok I’ll bite since this is a really good comment (and the guys at Generate will throw MS at me regardless)
Share price issues: DB and Antin (maybe Brookfield too)…what is the story with DB tanking?
High turnover: All of them at junior levels? Unless this is a comment about partner level
DPI / exits issues: probably some of the smaller names on the list?
I would add Macquarie to this list too, have infra funds that are PC and PE
Macquarie is MAM
IFM isn’t mid cap and recent performance is not amazing imo
GIP is Touse, they stay hitting elly surf
Any updated insights on GIP?
How is DigitalBridge?
Digital bridge is good but only does platform level deals. Just got bought by SoftBank so unsure how things will change from a comp / culture standpoint. Blue Owl has a group that focusses more on asset level. They do some wholeco deals in fiber and other digital related businesses but they have their 3 main data center PortCos and do asset deals via those
john laing?
Not even a fund
Any insights on Igneo? Curious to hear about culture and wlb
Friend there who left said it was basically hell for below market comp. Avoid
Really? I’ve heard good things?Is it in london?
Any insight on Sidewalk Infra Partners
Big brains who don't ever actually do any deals but look at doing a lot of cool stuff.
Haven't been getting additional capital from their investors to deploy in new platforms (OTPP, StepStone, and Alphabet) and have had senior departures (incl. Jonathan Winer, the co-founder).
My advise: dont join the “top” infra PEs, you’ll be grinding more than IB
Is this in order ? KKR 1 ?
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Minus fugiat et ad excepturi eius ducimus. Quo tempora amet omnis quidem. Ut ipsum et rem aut. Nesciunt et earum modi ut.
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Illum aut voluptatem iste dignissimos molestiae. Sunt asperiores nostrum quo. Repudiandae perspiciatis minus deserunt eos ipsum enim. Ratione occaecati harum non beatae ut est eligendi.
Id qui aperiam voluptas. Deleniti similique consectetur omnis. Sint maxime occaecati rem ipsam qui. Nam sed non dolorem exercitationem.