Experience with Siris Capital?

Anyone have exp with Siris Capital? Is this a high calibre / reputable shop?

Currently an mbb consultant and being positioned by a recruiter for a role there. Had never heard of them.

Comments (11)

Jun 30, 2018

I don't have direct experience with them, but I would expect it is a fast-moving, intense culture because the founders are ex-Ripplewood guys. Presumably they have had good results given how quickly their fund size has been growing.

Jun 30, 2018

I also don't have experience with them but I know that they're legit, have done some massive deals in the Internet & Software space (Web.com take private going on right now, take private of Intralinks, Digital River buyout) and that their first couple of funds have done very well. They seem to be value focused based on the assets they're buying.

Jul 1, 2018

Siris is a newer platform but has made a name for itself in tech PE. They focus on a few larger deals per year, rather than doing a bunch of smaller stuff, so they really invest a lot of time into developing their investment thesis / diligence process. Additionally, they leverage operating partners to help run their portfolio companies. The strategy they use for forming their investment theses is referred to as "bond and call" - essentially they look at businesses with one segment / business line that they see as stable / reliable that may provide decent returns and another that they see as high growth or high potential. They like to look at take-privates (as seen by web.com and synchronoss/intralinks). Culture-wise, I don't have direct, first-hand knowledge but overall it seemed like a nice place to work / collegial

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Jul 3, 2018

Thanks everyone for the perspective

Jul 3, 2018

love their bond with call option strategy or however it was called. Make money on legacy product offering with upside form "next gen" shit

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Most Helpful
Jul 3, 2018

Their AUM grows quickly because (a) Frank is a tank and (b) there's a surplus of supply of Limited Partner dollars dedicated by mandate to MWBE firms (minority/women) relative to capable managers.

They perform well, so they're able to announce successively larger vehicles without anyone raising any eyebrows. They close those vehicles pretty quickly, thanks to cozy relationships with the top-tier consultants (Grosvenor, etc.) and gold-plated resumes for the three GPs that make all the public pension guys go "Thank God, someone we can finally write $100 into out of our MWBE pool."

It looks like fast AUM growth because they're able to run their fundraise processes at lightspeed. Save a year on a raise twice (get it done in 6 months instead of 18) and all of a sudden you're into Fund III while most people are in the first year or two of Fund II.

I haven't interacted with them on a deal, but my immediate impression was that they are sharp and polished. No idea what the juniors are like, only interacted with seniors.

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Nov 28, 2018

Do you mind sharing the HH that covers them?

Dec 1, 2018

Bellcast

Jan 30, 2020

I have had a chance to a higher up in the firm and they seem to be very busy and constantly working. From the contact, I learned that they continue to fundraise because they have a robust pipeline and the associates / VPs work grueling hours (basically banking). Anectdotal evidence so take it with a grain of salt...

Array

Jan 31, 2020

Highly concentrated strategy will work until it doesn't. So far it's worked. Link to Cliffwater write-up below.

http://data.treasury.ri.gov/dataset/b32b253f-b749-...

Jan 31, 2020
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