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Have heard from a friend of someone that works there that it’s low, believe it was $180k or 200k all-in for a Ass-1 (this was a year or two ago so they may have bumped since then).

In general, the established LMM shops in South FL don’t appear to be at market from my understanding. Essentially, they know there are only so many quality funds down there and they don’t have much trouble finding someone who’s good enough while undercutting the market.

Would think the MM firms in South Florida (excl. Thoma) would be the top of the market from a comp perspective (e.g., H.I.G., Siris, Sun Capital, maybe a Norwest or AE Industrial Partners).

 

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