Sharpest MM investors
Which groups/funds do you think are the savviest or sharpest MM investors? Would love to hear views!
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Cardone capital absolutely cleans up in the SE repe space
I just looked at their team page and each person looks like they were made by AI
From their website:
“Grant…has never lost money on a multifamily real estate investment.”
lol that’s how you know it’s fraud.
Let’s see, who was the last well known “investor” to claim to have never lost money and consistently produce ~6-8% returns? Oh right Bernie Madoff.
even great investors like Howard Marks and Warren Buffett have at some point lost money on an investment. Nor have they ever made any guarantees of returns. The dude thinks he’s better than Howard Marks.
A few that I really like from 2023 perspective in no particular order:
Berkshire Partners
American Securities
Francisco Partners
GTCR
MDP
Baypine
Searchlight
Cressey
Lmao talk to anyone in the industry close to Berkshire or anyone who has worked there in the past ~5-7 years and they will tell you it’s a shitshow. They barely hit their last fund target because their performance has been so shitty in the fund before that. Bunch of their current portcos are in trouble. They have the prestige but it’s running out fast. And prestige don’t give the LPs returns…
Can you share insight on the Chicago funds you listed?
HIG, AEA, One Rock
Seconding HIG…. Despite the rep, really really really sharp folks and great returns
Genstar
Their returns are incredible, with their head count, holy shit.
link?
Which HH covers them?
KPS, Arcline, American Industrial Partners, Sentinel, Thompson Street Capital, Shore (I guess LMM).
This is a name that is borderline never mentioned on this forum but produces pretty incredible returns: Turtle Creek Asset Management in Canada has had pretty incredible returns over a long period.
Canadians man. Tell us you work there without telling us you work there.
Don’t know why you’re getting MS’ed.
It’s true. I met a guy who’s 30 who has retired after working there for ~7 years. Very sharp guys, grindy shop, interesting model, pretty substantial AUM given Canada with a very low headcount.
They're solid investors but afaik, they're LO equities, not MM PE
Damn, their product looks very appealing
I would imagine there's high tax implications since there's 50% portfolio turnover: lowering annual returns by about 25%. Regardless being able to contribute more to a conviction when it's down and trimming near peak seems like a good idea and it's worked for them
Centerbridge, Sycamore, Veritas, Searchlight, Clearlake
Bro come on. CLEARLAKE??? Jose’s whole mandate is basically buying cheap assets, bundling them and then overlevering the shit out of them. MAYBE a few of them pay off. Take a look at their current portfolio and explain to me why they are such great investors when legit half of their companies have debt trading deeply distressed rn LMAO.
It’s my understanding that their returns have still have extremely top tier, but if others have seen more recent data then I defer to that.
Having worked across from them on several projects, can certainly confirm that their deal teams are “sharp”, nonetheless. There are tons of firms that fit the description though.
KPS, Ridgemont, Francisco (more UMM at this point), Parthenon, Avista, AKKR, Altaris, Veritas (more UMM) are a few of the names I interacted with in banking and in PE that I thought/heard are sharp and have good track records.
Would love more insight into Parthenon - feel like I haven’t been able to find much on them here!
New mountain do the most impressive company building and strategic thinking imo
They have some serious duds in the portfolio
Examples?
HIG and New Mountain have cleaned up. MSD on the credit side.
MDP
Curious about what firms you guys consider the "sharpest" in the MM healthcare space.
Webster
I feel like people here are just listing all of the big names in MM PE they can think of. Theres lots of other firms that actually have great returns and unique strategies that are better to look at from a career or LP standpoint.
Kinderhook, Banneker Partners, Five Elms, Freeman Spogli, True Wind Capital, Gridiron, Littlejohn, Keensight etc.
Not sure id put Five Elms in the category of elite and sharp MM investors
Because they're not based in NY or SF? Their returns are phenomenal, they are always oversubscribed and they have a differentiated strategy that allows them to purchase software companies way below peers
Actual data:
https://www.hec.edu/en/news-room/2022-midmarket-hec-paris-dowjones-priv…
The funny part is, outside of Accel KKR and Oaktree, all the other names are rarely talked about (if at all) on this forum.
Bump. Anyone have info on these US based names
following
Anyone know fitzwalter?
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