Huron Capital - Detroit - Can anyone share their experience they had as an Associate?

Hi All - looking for some insight on the associate experience at Huron Capital based in Detroit (huroncapital(dot)com)   -It would be really helpful to know what type of experience associates at the firm get and what general consensus is on the firm. Curious if there is any semblance of work life balance or if it is banking 2.0. I saw a few people on LinkedIn who left the associate role before they had 2 years of experience so trying to figure out if there is anything driving people out of the firm.

thanks

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Comments (26)

  • Associate 2 in PE - Other
Sep 29, 2020 - 8:53pm

My understanding is culture is extremely bad from friends who have worked there.  They have since gone to other PE shops where they note the culture is much better. 

There is a few other shops (not pure buyout) in Detroit that can do super interesting deals that I would check out.  

Fontinalis I would assume would be super interesting.  

Rockbridge I would assume may be very well funded to do some really interesting stuff with Dan Gilbert's new found 30b.  

There's also a couple people in the Michigan area I could see launching shops in the next couple years which I would think wouldn't have trouble fundraising. 

  • Incoming Analyst in IB-M&A
Sep 29, 2020 - 11:56pm

Can you speak a bit more on why they said their experience was poor. I'm from Michigan and it's the largest shop in the state so was interested in potentially coming back post banking, so this is quite interesting to hear. 

  • Analyst 2 in PE - LBOs
Sep 30, 2020 - 2:12pm

From MI as well. Huron culture is toxic, fund performance is not strong. Other MI funds include Peninsula, O2, and Blackford Capital (not great either). Quite a few MI people in the IB / PE scene all competing for the few spots in the state that are respectable: MI > NYC, LA, SF, CHI for the long term....

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  • Incoming Analyst in IB-M&A
Sep 30, 2020 - 11:45pm

Have also heard bad things about blackford. Do you have any thoughts on O2, saw they just raised a new fund.

  • Analyst 2 in PE - LBOs
Oct 1, 2020 - 8:21am

Positive on Huron performance. Have good insight into Fund III and IV, both

  • Analyst 2 in IB-M&A
Oct 1, 2020 - 12:41pm

What have you heard about Blackford? Seems like most of their associates don't even really come from IB and that they don't have a committed fund?

Oct 2, 2020 - 11:57am

What have you heard about Blackford? Seems like most of their associates don't even really come from IB and that they don't have a committed fund?

Nothing positive. Pretend to compete in auctions, are not legit buyers for deals over $4mm EBITDA IMO. Junior guys turn over frequently. I think they do have a very small committed fund (Fund I was $50mm, not sure if they could raise a second but they were trying).

  • Associate 1 in PE - LBOs
Sep 5, 2021 - 10:31am

What's a blind pool fund? Also when you say retail LPs, do you mean they're going down a list of accredited doctors/lawyers to pick up pieces of the equity for each deal they win?

Most Helpful
  • Principal in PE - Other
Sep 5, 2021 - 10:39am

Deal by deal model: PE firm doesn't have discretionary capital so they find a deal and then pitch that deal to investors for funding. The investor has no "blind pool" risk as they know what deal the PE sponsor is buying into.

blind pool model: the standard in PE. A firm goes out to institutional investors and raises discretionary capital to spend within their fund. It's a 'blind pool' for investors as they don't yet know the specific companies which are going to be acquired.

By retail I mean they: 1. Can't attract institutional capital (foundations, endowments, pensions, etc) and onboard small cheques from high net worths and 2. Partner with a wealth management firm where advisors load in like 25-150k cheques from high net worth clients - seen as "dumb money" in the industry.

Funniest
Oct 1, 2020 - 11:30am

TIL there's PE in Detroit.

Quant (ˈkwänt) n: An expert, someone who knows more and more about less and less until they know everything about nothing.

  • 5
  • Associate 2 in PE - Other
Oct 2, 2020 - 10:38am

Who's being aggressive?

There's two people who have asked for sources when the commentary was that it's a toxic culture.  I mean I know there's a process going on for Huron but . . .

  • Incoming Analyst in IB-M&A
Jan 31, 2021 - 10:03pm

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  • Analyst 1 in IB - Cov
Feb 2, 2021 - 1:34am

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