Anyone heard of XIO Group?

Would really appreciate some intel on XIO Group. They seem sizeable (some sources say $5bn AUM), and recently beat out Advent for a $1.1bn buyout bid. Apart from that, there is an astonishing lack of info for a fund of this scale...

Does anyone know anything and can share? Most interested in their Asia offices but London also would be good to know.

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Comments (30)

Aug 28, 2016

Anyone have any insights? Please!

Aug 29, 2016

It's a relatively new Europe/China fund with capital from China. They did 2 investments in the US (Lumenis for ~$550M in Jun-15; JD Power for ~$1.1B in Apr-16) and a couple in Europe (e.g., COMPO in Germany).
Target returns seems to be a bit lower given foreign capital. Not sure of their track record.

Sep 27, 2017

Does anyone know of an ex-employee I could speak with about their experience at Xio Group? I was contacted by a headhunter and spoke with a guy at Xio name Pete. He says all their backing is from big time institutions - like US endowments - and the article has nothing to do with the firm. When I asked him about turnover he said there have been a handful of juniors but the last hires are all MD levels or above. I'm interviewing for their New York office. Thanks.

Sep 1, 2016

I have been to their interview in Shanghai office and know some background. Add my wechat if you want to talk: ela04cz

Sep 7, 2016

swanky offices in London. Overpay, Let go people in their first two years. Avoid if can.

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Sep 7, 2017

Do you have any further to add to this?

Sep 8, 2017

Bump. Would be interested as well. Additionally, are their LPs really asking to get their money back?

Sep 8, 2017

big article in the FT (or something else credible.. forgot exact publication) some months back.....

Sep 8, 2017

Are you talking about the WSJ article? (https://www.wsj.com/articles/did-xie-zhikuns-nearl...) I am not sure how much of that to believe to be honest. Hard to assess from the outside.

Sep 8, 2017

I would believe it and yes the LP would like his money back, would you not? I think there is another article coming. Can anyone tell me were Joseph Pacini came from?

Sep 8, 2017

Well, if I had better options to deploy my capital, surely.

http://www.xiogroup.com/team-joseph-pacini/
Funny, that your name is JoPac (i.e. Joseph Pacini in short). Would love to know what's exactly going on with them. Feel free to shoot me a PM.

Sep 8, 2017

Back to the favoured topic, ignoring the other partners who might be worth shedding some information on later. How did someone with no PE ability get to be running around trying to buy Meitav Dash?

Sep 8, 2017

Well, I don't know if it is fair to say that they have no PE ability. Some of their staff certainly has a good track record. Anyway, regarding Meitav Dash, that's a very good question. My guess is that there is a lot more in the background that you cannot see from the outside and they are clearly very well connected.

Sep 8, 2017

I cannot agree with this point, I think London banker hit the nail on the head. You over pay and everyone is your friend. High staff turnover will be the credible names working out a little too late.

Sep 8, 2017

The point with over pay is definitely valid. The staff turnover is certainly scary for a rather young PE fund. I searched around on LinkedIn and they definitely lost some good talent.
Anyway, I would love to know more about where they are heading.

Sep 8, 2017

The GP has been told not to recycle does that give you enough information! If you read the press you will understand what Carter Ruck used to do!

Sep 8, 2017

Irony/sarcasm, does that answer the question? and my e-mail address will answer the rest xio then @ then activist then .com if you have something to share?

Sep 8, 2017

Haha. Fair answer to my question and my excuse is that it's been a long week for me

Sep 8, 2017

Deliberate new member, so cannot PM for a bit. I generally avoid weighing into discussions, but feel that in the XIO case the outcomes are not good for any of us in the PE or associated industries. I would posit you know very little about XIO and should dig a little further.

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Sep 6, 2017

I hope you did not join them, you dont need to look too deep into their history to realise that they are shady. The partners have no PE back ground and the source of their funds wants his money back!

Sep 8, 2017

Assuming this topic was about career choice:

Its all a question of options isn't it? Is XIO similar to one of the established funds because they "manage a lot of capital" absolutely not - everyone - at least in London, knows what the question marks around the guys are. However, If the alternative is "random fund capital" with 10m in assets then go to XIO or (what I would do ) wait if you have the profile to do buyside at other places...

A more general comment (and I have no horse in this race):

I don't even want to start on the red flags that I would see if it was about my career. This place is a pop up shop where the rain will wash off the paint. Look at it like this: even if they are legit - they are not good investors because the prices they have paid mean loosing money on the assets they bought. 100%.

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Sep 8, 2017

Just to add to that: Have a look at how their deals are going. Considering the prices that they probably paid for those assets, it doesn't look good.

Sep 8, 2017

If it were still a career choice, I would be a little worried.

Their second purchase is on the blocks (or will be soon) and has been refinanced. Their third investment has been refinanced, no need to mention their first investment.

Its nice to know London knows, but Hong Kong doesn't (not properly), at least the Israeli's worked it out for themselves.

Sep 8, 2017

I cannot post links but think you should look at jd power and moodys, and look up haaretz and Meitav Dash

Sep 8, 2017

I would definitely also be worried if I was still considering it as a way to start/advance my PE career.

I was a little surprised when you mentioned that the third deal has already been refinanced.

Just read the haaretz article about Meitav Dash. It seems to point into the direction that they don't have any money. The share price development of Meitav Dash over the past year or so is certainly interesting as well.

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Sep 8, 2017

Obviously the King of Hong Kong does not sleep. I don't generally flag other peoples deals, and thanks to Tor I don't intend to put a target on my back. PE is by its nature silent, and there is no need to tell tales that are not in the public domain. However, when its so obvious and should be shared for the benefit of the community I have been budged from my shell. Keep digging, its all there.

Sep 8, 2017

Haha coffee generally does the trick. Completely agree with you. Best of luck with your deal making going forward and thanks for the interesting conversation!

Sep 8, 2017

NP - flag me in a few weeks for an update.

Sep 8, 2017