Saw that they were historically (like 10 years ago lol) viewed positively here but sentiment has gotten worse in the last 3-4 years. What's the updated read? Know they did the SingleStore buyout and an Australian take-private last year and then a carve-out from KKR earlier this year.
How do they stack up vs. other tech PE shops? culture, hours, exits, comp, whatever. Would appreciate any color if you’ve interviewed there or know people at the firm.
Know a few people who work there and really like it.
"HF that did very well" didn't his hedge fund blow up with investors getting 50-60 cents on the dollar back including all early distributions?
I’ve heard pretty bad things from people that worked there. They have significant attrition issues
Sweatshop, deep value, distressed investors
Close friends with someone who works there. Leadership was reset 2 years ago with the senior team now stable around the new CIO and new head of value creation from Vista. While the team is still intense and sharp, culture has radically changed over the past 2 years. The team is focused on moving away from its deep value roots and its flagship investment in their latest fund is a growth buyout. They are very focused on growing quickly from here. Momentum on their latest fund seems good and they will likely be out in the market in the next year.
Maybe I can’t speak to this as well as you can, but from an outside in perspective, is this fair? I cover this space, and I wouldn’t go within a 10 foot pole of their deals. Even looking at their most recent deals, they all seem like shitcos, and I wouldn’t consider that growth buyout. How many of those assets are actually growing at 20-30%? Probably none. It feels much more like deep value, which is fine. There’s plenty of money to be made in different ways.
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