UMM Comparison
Looking for an updated view on recent performance, comp, business school / HF exits, and overall associate experience at UMM firms like AEA, American Securities, Veritas, Lindsay Goldberg, WCAS, Berkshire, TH Lee, Providence, etc.
Curious if anyone has differentiating info on any of these funds.
Bump
Curious too
All the same bullshit unfortunately
worked at one of these, x2
Bump
whichever UMM firm gives u an offer first is the best
I’ll take a shot at this. Here are my tiers of firms based on general reputation. Excluding guys like CD&R which are basically MFs at this point, though some of the names below could arguably be considered MFs (especially the Tier I, all of which have $10B+ funds).
Completely subjective and definitely splitting hairs, but that’s what we’re here for right
Tier 1
Francisco Partners
Veritas
Clearlake
LGP
Tier II
Genstar
New Mountain
GTCR
BDT
Berkshire
Platinum
Tier III
MDP
American Securities
Lindsay Goldberg
WCAS
Ares
Tier IV and on
THL
Providence
AEA
Jordan
Siris
This is actually a pretty good list but I would love Genstar and GTCR to tier 1 and move LGP to tier 2
Agree with that - would certainly put Genstar above Clearlake as well.
Can I ask why LGP would be tier 2? I only have as good of a look as pitchbook gives about a fund, but seems like a lot of sentiment in the thread contrasts with the decent returns and big fundraising
Disagree - i think the tier list is accurate as is. Genstar is below the tier 1 on the list
Depends what you’re ranking on obviously, but seems like senior people in the industry don’t view Clearlake as a tier 1. At least at my fund and when I was in banking, think a lot of people question their strategy and they certainly don’t have the historical reputation of most other names on that list.
Obviously if looking at fundraising / returns (at least on paper) it’s a different conversation, but people in the industry seem to look down at Clearlake a bit more than others
Berkshire and GTCR are definitely Tier 1, especially over LGP and Clearlake
Clearlake is tier 3 if you know how they work...
What does this mean exactly?
I agree that it would be helpful for folks to share why they feel a certain ranking is valid or share actual feedback about a given company instead of just ranking firms or providing loose statements that could be applied to any.
I assume its means theyre very loose with due diligence
Same with genstar
This ranking generally in line with this list
https://www.globenewswire.com/news-release/2023/02/08/2603872/0/en/HEC-…
Thanks for the write up - think this is largely accurate. Would move THL up a rung due to recent fund performance, strong fundraising momentum, overall B School placement, and size of deals (leverage co-invest). Would like to see if they can hold their gains especially in tech & automation - but it’s definitely a stronger platform in their last two funds (8-9) than it was in prior funds (6-7).
Seems like market perception for THL hasn’t shifted much from the debacle that was their founder’s exit, but performance and types of deals seem to be completely different than in the past.
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