21 Comments
 

I get it. You work there and hearing "average" hurt your feelings. 

https://www.wallstreetoasis.com/comment/2249067#comment-2249067

They try to sell the Oaktree connection hard, this comes up over and over and if you work there then you know that. How many people from Bellweather make the move to Oaktree? I didn't say it was a terrible shop...just average.

 

I'm not in my feelings - your claims just aren't accurate.Frankly, they sound pretty arrogant.Of course we sell that relationship hard, we manage ~$20bn of their assets.& it doesn't sound like you've ever talked to someone at OCM about how they view BWAM.If growing 80 employees, opening a second office and adding multiple top-50 clients in the past year is average - then I'm pretty happy with that.I think you'd be shocked if you saw the day-to-day of our analysts.

 
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Worked there for over two years (equity associate) and left to take a job a large PE firm. BWAM has grown a lot since then but I believe its very true to the same character when I worked there. 

  • Everything Anonymous is saying checks out
  • Lots of exit ops to PE if you want to move on (folks I worked with ended up at KKR / Ares / BAM / PIMCO). A lot of other folks go work for local/regional PE shops / developers closer to home since most relocate after college to work in LA. 
    • No one moves over to Oaktree - I think its because OCM would have to justify how BWAM is truly 3rd party in fee disclosures if they blur the line by hiring from the analyst pool but that's just speculation.
  • Debt team is legit. If I could go back again or recommend a job for someone starting out in Asset Management I would point them toward BWAMs debt team. I sat surrounded by them my first 18 months at the firm and learned more about debt by eavesdropping than some folks learn in years at other jobs. 
  • I learned more, had more trust, received more respect (from both BWAM and OCM team members) and had way more control over the investments I managed as an Associate at BWAM than I had in 1.5 years as an Senior Associate at a mega-PE firm. Only upside was that I got paid more. 

For added humorous context - The Duke of Wall Street left the firm the week I started and I inherited his investment portfolio. Turned out to be the best learning experience of my life. Little bit of trial by fire but definitely worth it in the end. Thank you Duke for that particular accidental blessing. Hope all is well with you! 

"What we learn from history is that people don't learn from history."
 

All is well! Hope the same with you.

In terms of your response, you hit the nail on the head (as have a few others). The firm has grown rapidly in terms of fees, head count, cachet, and clientele. For anyone considering BWAM, I would say it can open nearly all doors from an exit opportunity perspective. And for those who choose to stay, the culture is fantastic and the compensation is good, too. 

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