What do you guys think of Arclines fund II at $2.75B? Does this make them an UMM? I see that they take analysts out of college. Would an analyst stint at a fund like this be as attractive as IB out of college?
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I'll take a shot at part of this. The Analyst/Summer Analyst description from this past year reads, "The program is structured as a two-year rotation during which Analysts will spend time across Arcline’s Underwriting, Research & Insights, and Portfolio Operations teams." Based on this description, it seems the role isn't totally focused on investing. That being said, when I spoke with some analysts there, it seemed they were supportive of analysts who wanted to focus more on investing, so maybe there is more flexibility. I think it's an exciting fund that cares a lot about employee career development.
Having interned at UMM funds before, I can definitely say the deal velocity you see as a post-undergrad PE analyst is far slower than that you'll see as an IB analyst. But you do get more depth since you have skin in the game. If you like their industry interests, I'd take the gig if you get it.
I think there is general consensus that UMM is approx. ~$3B or above. So close enough.
I last worked with these guys years ago but at the time they struck me as a bigtime fund on the rise. Founder was one of the founders of Golden Gate Capital and led their industrials group which was, per some friends in AM, their best-performing vertical by far. They've done some creative deals.
It looks like the structure is pretty balkanized with separate BD / underwriting / portfolio ops teams so your experience may be narrower than it would be at other funds, though I generally think all firms will look like this before too long.
Bump, any 2023 updates on these guys? I read they are in the market for Fund III and that returns are solid (2x for Fund I and 1.15x for Fund 2)
They have Nashville HQ, but what is the ASO spread between there and SF and NYC?
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