FIG/FinTech PE - Top Shops
What are the top firms for FIG/FinTech PE in 2020? I know some MF have FIG PE groups, but what about more specialized MM/UMM FIG shops?
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The shop that recently bought duff&phelps from Permira.
stone point capital
FT Partners baby
I think OP was talking about buy side not sell side. Just throwing some names out there:
Stone Point Aquiline JC Flowers Reverence Lightyear
Edit: Adding Corsair & Lovell Minnick.
How's JC Flowers doing these days? Haven't heard much
This list is pretty comprehensive. Flexpoint Ford is FIG focused and industrials which is odd. Stone Point is by far the largest and best in the space currently
Mentioned FTP cuz they invest in client companies sometimes.
Have had limited exposure to Stone Point, but from what I have encountered they are an extremely strong shop. Senior Management is as good as it gets (Steve Friedman and Chuck Davis, CEO and Head of IB at GS respectively) and my understanding is that they are far and away the strongest PE investor in the FIG space in terms of both their exceptional returns and the sheer size (have raised a fund ~ every 2 years including the current raise at $7B).
Do you know anything about culture there and if they're 2 and out or if they promote without MBA?
The program is not a two and out (I believe the average associate track is 3 years) and they direct promote (business school is not encouraged, maybe even discouraged). Compensation and culture are solid as well.
Stonepoint is definitely the biggest. I don't think their returns have been significantly higher than Aquiline or Lightyear. I believe all 3 of those have significantly outperformed Pine Brook, Lovell Minnick and Flexpoint. Not sure if you've heard differently.
Pine Brook does a ton of FIG stuff too. I think they're loosely associate with Soros somehow. Flexpoint Ford in Chciago also does a good amount of FIG.
All the megafunds have solid FIG teams as well, particularly KKR and Warburg.
Oak HC/FT
GTCR is the best. Don't @ me.
How do they compare vs other shops including other UMM / MF FIG verticals? Do you know anything about the team or culture?
"The best" includes performance, pedigree, and culture (especially if you're from the Midwest). For some context, FS&T is the crown jewel of a firm that essentially defined middle market private equity decades ago and continues to deliver best-in-class returns.
Fintech shops:
Ribbit Capital CreditEase QED
Thanks! SB for the new names. Can you comment on the culture/comp of any of these shops?
Anyone with info on JC Flowers?
they lost half of a $6b fund and are now trying to crawl back
no one mentioned AnaCap yet?
Along with the others mentioned, Francisco is near the top in Payments. H&F and Advent also both very strong.
Any insight on LightYear?
Crestview, Genstar, Kelso, and THL all play in the space as well
Any Insight on Motive Partners?
What are exit opps for people who work in FIG PE, stone point specifically? Is it a pretty seamless transition to more “traditional” PE at mega funds?
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