Crestview Partners
Does anyone have any insight into Crestview as far as comp (incl. any carry/phantom equity), hours, culture, exit opps etc.? Also interested in hearing general perception of the firm. Thanks.
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Interested as well. Anyone?
Anyone knows anything?
It is a well-regarded MM shop. The partners are pretty heavily invested in their own funds (~8% into a $3bn Fund III that closed 1Q2015), and each has a really strong background.
I did a sell-side process for a port-co of theirs years back. Their associates come from generally good groups. There's a noticeable bias towards GS (unsurprising given Delaney/Hurst/Murphy/Volpert all left the partnership there) and MS (same for DeMartini). Very disciplined investing, both in that their funds raised were spread out / careful to not expand the AUM carelessly as well as strict attention to their core industries of expertise (media, financial services, healthcare).
No insight on comp. It seems that they're comfortable bringing back top performers after the MBA. You can see on their team page how many of their senior staff were promoted internally. The dominant school most pre-MBA associates seem to go to is HBS; take that as a strong signal that the partners will write you good recs to their alma mater.
Great MM shop, though as mentioned, they tend to be pretty particular about their hires (MS/GS / I believe possibly McKinsey in the last year). Their process for recruiting tends to be a bit later and is more drawn out (spans 2-3 weeks and begins in the middle/end of week 1 of the official process). Comp as of 2ish years ago was 125/125, which is pretty in line with funds of that size (probably on the higher side). Could have changed since, but that's probably a safe estimate.
^ I thought Crestview's comp was basically to the PE world what Centerview is to IB (i.e., conspicuously higher than that of megafunds).
Yea, not sure where that misconception came from -- Crestview 1st year associates making 400k+ etc. Maybe it has changed in the last year (though I have seen posts like that for the past 2 years), but I can confirm the number I cited above
Regarding comp: unless it has changed very recently, everyone in the organization receives some type of carry, right down to the admin assistants. That's subject to vesting, of course.
bump - would love to get any intel people have more recently about culutre, comp, b school requirements/placements etc...
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