UMM vs MM vs MF PE
How do you tell which category a firm is? AUM? And what are the rough cutoffs?
Or is there another thread I can find this info?
Trending Content
| +68 | Ex Apollo Associate Q&A (But I Actually Answer) | 112 | 1h | |
| +56 | Q&A - Anything about PE / MBA / Life | 61 | 32m | |
| +45 | How to Model SaaS Projections for Interviews | 49 | 1d | |
| +36 | [Technical doubt]: Cash sweep and mandatory amortization | 9 | 12h | |
| +23 | European Megafunds (based on PEI 2023) | 17 | 2d | |
| +22 | Partners Group Long Term | 8 | 1d | |
| +22 | Is internal reporting at most funds really so Excel & PPT heavy still? | 8 | 8h | |
| +19 | Advent NYC Culture/WLB - 2024 update | 9 | 48m | |
| +18 | How much thematic work / industry research do you guys do? | 0 | 2h | |
| +18 | How is your life in PE? | 12 | 27m |
Career Resources
There isn't really a definite answer like a BB/EB distinction. Generally, I would say a firm with $10B+ latest fund size would be MF/Large-Cap. These firms include the traditional MF (BX, Apollo, KKR, Carlyle) as well as European/Industry-Specific MF (CVC, Advent, H&F, Vista, Silver Lake, Thoma Bravo). Roughly speaking, firms with $3B+ latest fund size are UMM (GTCR, LGP, Francisco Partners). Note, many of these firms compete with the MFs, so they aren't really "middle market".
LGP raised a larger fund than Bain Cap.
You're right. I believe the LGP, Apax, and CD&R types are all former "UMM" that have such large funds now...they are pretty much MegaFunds.
bet intern!
what was the point of this comment?
0-500MM: LMM
500MM-2.5B: MM
2.5B-8B: UMM
8B+: MF
These are arbitrary BTW.
Got it, is this AUM or latest fund?
Latest fund. AUM isn't really a helpful metric.
Check size can also be useful to look at.
Et dicta nisi nihil dolorem. Nihil omnis quo eius optio quod aperiam qui.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...