Vistria vs Water Street vs Shore
Interested in how these funds compare for the following: Comp, trajectory, work life balance / hours, perks, etc
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Bumpa
Vistria by far the best. Significantly bigger fund size than the other two.
Performance wise Shore is good but they are very much micro-cap PE and have an analyst program. It's a whole different animal and the banking skillset will not be as valuable.
Definitely go Vistria if you want an experience for larger-cap deals.
Not sure on comp. Water Street probably ~220-240
Vistria was a hot fund when they first launched and lost momentum in their last fundraise, in part because Trump got re-elected (they had aligned themselves with the Democrats in Chicago and wouldn't stop touting ties to Barack, etc. and DC insiders...that one really didn't age well) and given they'd had 0 exits and were raising their Fund V since launching 10 years ago.
They also rode the DEI wave since George Floyd and were able to nab quite a bit of AUM before seeing more hurdles in the last 2-3 years. I think going forward, they'll need to re-invent themselves a bit and being a generalist fund in the year 2026 is not helpful, let alone investing in sectors as disparate as healthcare, fin services and 'human capital.'
They should be fine though. It takes 10-15 years for PE funds to die. They've had at least one spinout already and I'm sure more will come.
Shore has a vaunted reputation in healthcare, especially physician roll-ups (which all of a sudden every LP is allergic to even though they made bank on these over the last 20+ years). Culture definitely tougher.
Water Street similarly well-respected in heatlhcare. More low-key and have more focus (unlike Vistria and Shore).
Anyone have insight into hours, perks, etc for all three?
Bump^
Say whatever you want about Shore, but they have made a ton of money in healthcare services
Historically true. Seems like a mixed bag these past few years based on the few convos I've had with folks I know there. But that's the case for most PE firms holding HC Services / PPMs portcos right now.
how does Cressey compare?
similar to water street. unsure on comp
Cressey is over
Don’t do healthcare PE. It’s over
why?
Anyone interview at Vistria? Looking to see how the case was
Vistria are good ppl. Shore are too but more drafty and ragtag
Don’t do healthcare services PE it’s over
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