TwinBrook Capital Partners - Any Details?

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.

Comments (20)

Jan 4, 2019

bump

Jan 4, 2019

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.

Jan 4, 2019

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.

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Jan 4, 2019

What is comp for monroe / madison these days?

Direct lending is difficult to find comp #s for in 2019.

Jan 11, 2019

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.

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Jan 11, 2019

Understood it's Chicago, but $85k and 25% bonus target seems extremely light for a 1st year associate in direct lending.

Jan 11, 2019

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.

Jan 11, 2019

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

Jan 11, 2019

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.

Jan 11, 2019

For what its worth, one of the co-founders of TwinBrook finalized their departure this morning.

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Feb 2, 2019
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