East Coast MF/UMM Consumer

Hi All,

I'm a first-year analyst in a bb/eb consumer group thinking about umm/mf consumer or generalist pe (at a firm with a consumer group) after banking. Looking for information on the following firms/groups that can't be found online, specifically: 

1.If the firm places associates in groups - Are Associates hired for a specific group or are they hired, then placed?

  1. What are the culture and hours like?

  2. Anything unique to the interview process (e.g. Permira doesn't use HH's)?

  3. Are they thought of as a smart consumer investor? Is consumer a real focus for the firms with generalist associate programs?

  4. Is pay materially lower/higher than peers? Does the firm pay/sponsor for MBAs?

Firms/Groups:

NYC

 - Carlyle Consumer, Media, and Retail

 - Permira Consumer

 - General Atlantic Consumer

 - CD&R

 - TSG Consumer

 - Sycamore

 - American Securities

 - BDT

 - Apax

 - Vestar

Boston

 - Berkshire

 - Bain Capital Consumer, Retail, & Dining

 - Advent Consumer

 - TA Consumer

Greenwich

 - L Catterton Buyout

Thank you in advance for your help! Any and all advice/information is greatly appreciated.

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Comments (18)

Jun 9, 2021 - 1:54pm

I'd add Blackrocks new fund in New York (not sure if they have a dedicated team but did ABG). Also, BC partners. Insight Partners does consumer internet deals 
 

Summit and Charlesbank in Boston 

if you count ATL as east coast, then add Roark

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Jun 9, 2021 - 2:09pm

Thanks! Could be wrong but I think ABG involves other sponsors outside of Blackrock including LGP and GA. Insight does great stuff in consumer internet but I think my interest is more towards "traditional" consumer/retail. Will add BC Partners to my list, think they did Petsmart/Chewy if I remember correctly 

Jun 9, 2021 - 11:31pm

Think BlackRock LTPC was the sole investor in that round with the 875M invested with LGP being an existing investor in ABG. Not sure where the ownership stands in the pro forma scenario but the press release pegs BlackRock as ABG's largest investor, which may position them as a majority shareholder but not sure.

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Jun 9, 2021 - 2:10pm

Don't really want to be in ATL but Roark def does a bunch of interesting stuff with franchises. I'll add Charlesbank and Summit as well

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Jun 9, 2021 - 1:59pm

Would add AEA in NYC. Sun Capital might be a bit smaller (~$2.5B fund) but they do play in the space. They're based out of Florida.

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Jun 9, 2021 - 2:12pm

Thanks! I'll add AEA. Sun definitely has a consumer presence but I'm trying to stay in the mid-Atlantic or northeast 

Jun 9, 2021 - 3:50pm

Got it. Well, AEA does a lot of consumer (also focused on industrials). Hires roughly half consultants, half bankers for their associate class (at least for their flagship fund). HSP is their headhunter. Based out of NYC but also has a London office. Not sure if they've changed their comp in the last few years but used to be $240/$250k for first year associates a few years ago. Decent business school track record with HBS. I think their second to last fund was a dud (4th quartile) but they raised a $4.8B fund <2 years ago and before that had a solid track record (they've been around for a while).

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Jun 9, 2021 - 2:35pm

I know you're asking about UMM/MF, but here are some smaller funds that do consumer.

Freeman Spogli and Garnett Station are a couple others in NYC.

KarpReilly is a consumer growth fund in Greenwich.

Yellow Wood and Prospect Hill Growth Partners are both in Boston

Irving Place (NYC) does consumer and industrials, as does Radial Equity (NYC), which spun out of Irving Place in 2014.

Castanea (Boston) is not raising a new fund, but some of the seniors spun out Stride Consumer (also Boston).

Trilantic (NYC) does consumer, business services, and energy.

Jun 10, 2021 - 12:46am

I think you're right. I should add a disclaimer that I don't know anything about these firms other than their names haha. I just have them on a spreadsheet of firms, which I searched for any consumer funds to help out OP

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