Any details on TwinBrook Capital Partners? There website is obviously helpful. Not sure if anyone on here works for them and can provide details on; (i) work/life balance, (ii) compensation, and (iii) overall thoughts on the firm? Seems to be a very active player in the leverage lending space and, as of recently, has dominated the lower to middle market lending scene in Chicago with its deal activity posted on its website.
Thanks, Monkey.
bump
Senior people Left Madison to start this firm. Very active and aggressive in the market. If you want to do non bank lending, this is a great place.
They are becoming a very successful MM lender given the strength of some of their relationships and ability to work quickly (quicker than others). I have no idea on comp, but it would probably be in line with the Monroe/Madison comp.
Not sure how much modeling and analysis is actual done since we've had sponsors close deals without requiring on-site visits and any concern over approval, but they are def. taking market share.
My guess is 9-9 would be common during the week for younger staff given the volume of deal flow they see, but I would guess less weekend work and fewer really late nights.
It's a bit of a mystery how it will perform and act in a downturn, particularly given the level of DD it does outside of the sponsor's DD.
What is comp for monroe / madison these days?
Direct lending is difficult to find comp #s for in 2019.
bump
Good to know, thanks for the info. Would be interested in comp at these firms. I know first year associates at TwinBrook were $85k and 25% bonus target from what I've heard. That's before negotiations I assume.
Understood it's Chicago, but $85k and 25% bonus target seems extremely light for a 1st year associate in direct lending.
Can anyone else confirm? 85 seems light.
Yea for sure, I was surprised when I heard it was that low. Assuming it ramps up nicely thereafter. A buddy mentioned that was the initial offer so he turned it down. I assume most associates in direct lending are $85-90k with at least 50% bonus.
That’s honestly crazy considering, a lot of the other funds like THL Credit, Ares DL, GSO, Crescent are on par with LMM/MM PE with Ares and GSO being almost MF comp level. Some of those analyst programs with the mentioned funds pay more than associate level at TwinBrook. Huge discrepancy in the market looks like within DL. Bigger names within DL will pay $200k-250k all in as a first year associate. Biggest thing it looks like is that if the fund recruits post-IB investment professionals you’d expect comp to look similar to associate at IB/PE levels
That is abysmally low. Unless you have no other option I would never take a gig there. Unless the "associate" title is just a misnomer and you are functionally an analyst. 85/25% is slightly off in that the base is higher and the bonus is lower, but all in that sounds like analyst comp to me, not associate.
For what its worth, one of the co-founders of TwinBrook finalized their departure this morning.
Can anyone share any other information on Twin Brook? Interview process/Culture/Work Life balance/Perks?
Bump, anyone know more about hours? Assuming 50-60?
Interviewed with them a year or two ago (think they always recruit this time of year though)
Process: Meeting with 2 associates / senior associates, case study (given financials and a cip, have to create models / investor committee papers), and then super-day type interview
Work Life Balance: 60ish when normal but easily can ramp to 80+ when deal flow gets heavy (all what I was told, can't verify)
Perks: Awesome snacks / meals / spreads, people I met with were awesome, culture seemed to be great, good space to operate in / growing firm.
Did you find out about comp when you interviewed? Assuming it is lower than Ares/Golub but was wondering by how much
Do you have any additional details on the modeling test/case study. How much time? Is it given in a template or from scratch?
Does anyone else have any further information on Twinbrook? Worklife balance? Comp? Culture?
Anyone have updated comp numbers for associates?
bump
Curious as well
First year associate base I’ve heard is in the ~120k range
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