Thoughts on TPG?
Feel like you don't hear as much aboutTPGthese days? What's the latest take on them? Obviously a large brand name firm but curious to hear people's thoughts
Feb 09, 2023
Feb 09, 2023
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Comments (41)
GSofPE, great for schmucks who are soulessly blazing along the 2+2+2 pathway
And after that?
Heart attack
I've heard anecdotally that they only return 1 or 2 associates from their whole class every year (which is 10+). Might be exaggeration but that's what a buddy who works there said. They replace the associates they they get rid of withfolks fromMBAprograms with priorPEexperience.
This is different than a place likeKKRor Carlyle that usually only promotes their own Associates to VP and rarely ever hires outside MBAs
What do you mean by return 1-2 associates?
Bump
Any thoughts on culture? Types of deals they do? Feel like they're more Lowkey than most large cap investors
The top consulting firms dread working with them. They have yelled at seniors inmyBBIB. They ask for and expect work over the weekends. They rescind offers if you are affected by layoffs. Truly seems like the most toxicPEfirm. The modeling test in recruiting is very hard. Are the best for healthcarePE.
They aren't that great for healthcarePElol...a lot of firms with much better returns/investments
I'm fairness, they were the healthcarePEfirm of the year in 2021 according to PEI. Not saying they're head and shouldersabove otherMFs(CG/BX/KKR) but from what I've heard / read on here it seems like they're well respected. Which other firms (of similar size) do you think have superior HC teams?
TPG HC is their best performing team (you can check the returns since they also have a separate vehicle for HC). In theMFworld TPG,KKRandBainhave the best HC teams.
The yelling is unacceptable but in what context was this weekend work demanded? If they hired you or a live deal not sure how crazy that is
Consultants don't work on weekends unironically, everybody knows this. On deals they do market research, unless you're yolo' if a fuck ton of primary capital into a late stage business, this is check the box work and your 100 day plan isn't urgent since you have months before close anyway
Still solidIRR
Growth seems like a good group with solid culture and experience. Have heard Capital is nightmarish though.
In what way? Worse than otherMFsor just bad. Feel like I've heard that TPG tends to be better than mostMFsbut who knows
Had a buddy who went to growth and can tell you first hand it was rough. Came from a sweatyBBgroup too so it's not like it would have been a shock. Grass just wasn't greener at all.
A close friend is there and likes it overall. Definitely grinds hard on live deals, but that's true anywhere. Overall, they say culture is pretty good: they're actually friends with some of the other Associates, likes the seniors, says they have smart VPs, has limited weekend work unless on something live/going to IC, and says there's not a big face time culture. Gets "free" lunch, dinner, and Ubers to and from office. I'm at anotherMFwith worse perks and comp, and I'm consistently in earlier and leaving later than they do even if nothing to do because our culture demands it. Can't speak to consultant/banker interactions, but for an Associate seat, they seem pretty solid.
Just bumping this. At Sixth Street (Fka TPG Special sits perks are same)
Bump? Anyone who works there?
How would people compare TPG to otherMFslike Carlyle/ KKR?
TPG fund size is smaller - $11.5bn 2019 fund vs $18.5bn 2018 fund for Carlyle and $14bn 2019KKR(US only) fund
This yearKKRraised a $19bn US fund, Carlyle is raising $22bn, TPG raising $15bn
Not to split hairs but if you include TPG's HC sidecar their latest raise is $18.5bn between flagship buyout and healthcare buyout (15 + 3.5); these numbers seems pretty apples-to-apples given TPG funds I quoted are just for the U.S. and Europe (Asia invests out of a separate fund).
Sinking ship
How so? Care to elaborate?
Associate 3 inPE-LBOsmust not understand what sinking means
There was a very good post in one of the others topics. Can't seem to find it but recommend searching
Re "sinking ship": this meant to be a joke or do you have something to substantiate this?
They bought a stake in my dad's company so that was cool. OutbidKKRand Carlyle
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