Good Firm; Declining PE Business
Pros
Large firm with good overall reputation; will likely benefit from private credit Access to co-invest in co-mingled funds (Credit, RE, PE, secondaries) Good comp packages relative to market/good perks High focus on DEI though with little to show for it in PE
Cons
Thoughts specific to PE: Terrible leadership/partner group - lost or fired a considerable number of people over the years, best partners are gone including recent departure of the Co-Head of PE Healthcare team in PE is a dumpster fire Declining fund size given the investment committee's portfolio construction for the 2017 vintage fund Good junior culture; rough partner group (with 2 exceptions) Unclear strategy or at least they don't follow the strategy they articulate - marketing materials show desperation to invent a differentiating factor Ops team is nothing more than a talking point for fundraising; they have little to no trust/engagement within the broader PE team