Thoughts On MMPE Riverside Company for SA/FT
MicroCap with some consistently good exits and good culture, very high deal volume. Raises funds easily. Curious about long view, what’s the capacity for someone in a role like this beyond just staying at a company and growing in the roles? I come from a target for IB’s with moderate PE exits out of UG (not HSW). Comp isn’t going to be like a MF PE fund in the short-medium term but it doesn’t seem bad and the exits seem to provide really good comp with carry in the long run. But at the same time MicroCap funds are gonna cap out at a few billion anyway.
I know if I take the job I could get an MBA and eject onto whatever path that would entail but I could really use your thoughts on:
- lateraling into full time opportunities with the SA experience
- lateraling during career
- PE recruiting out of UG generally with this experience
- Reputation on the firm and general thoughts
Company is in LA
I looked at them, think I echo your points about positives. Comp is ~market, but variable. Offers carry at associate+ which is really cool (not exact on details though) so make sure to research about that. They're a cool firm, hope to hear more from others as well.
I have a lot of respect for the Riverside guys because they really fight for their dollars.
The core model: They effectively invest in "big fish small pond" industries. You might have a market with a $100m market size but if there's a company doing $10m in EBITDA, they'll really pique Riverside's interest. That's why I say it's a hard earned buck to be doing this for a living over and over. T
Other example: They have other funds / strategies to root around for a buck in creative ways - look at Riverside Technology Solutions (not sure the exact name). It's effectively a secondaries fund for venture deals; they look for early employees or other investors who want liquidity on high growth startups. Talk about a hard earned buck!
My own theorizing: I think it's differentiated that they have a global platform for micro cap and LMM deals. I haven't thought out the mechanism of why this is a differentiator, but if you're thinking about a career in the space, I'd suggest you start where I left off with this line of thought.
Tactically, they staff deals across geography. I think you're probably too junior to know if you like that or don't like that (no fault of your own) but it's worth thinking about. Overall I'd say it's probably a good experience, but if you have other options (BB/EB IB for example) I'd consider those as well depending on what you want.
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