I Squared
Anyone know what happened? Head of North America, Latin America, credit, along with a few top principals, have all resigned over the last few months amidst the close of their last $15bn fund .
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Curious as well. Was surprised to see the announcement after closing a $15BN fund.
Does anyone have any info on the firm in general? Heard it's a sweatshop, but not much else.
Purely anecdotal, but senior leadership are apparently control freaks
as a previous ISQ intern, this is very unexpected to say the least
I thought their returns were supposed to be pretty good. Wouldn't these guys be leaving a lot of money on the table?
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If a large number of top guys are leaving at the same time they’re probably going to start their own thing.
God I can't fucking wait bro, I Squared dudes start their own infra firm, LatAm has been fucking flaming lately with renewables deal, i'm talking major money flowing in, it just makes perfect sense for them to dip, very excited to see how this unfolds
Links?
Wow just read the head of IR resigned too. What's going on?
At that seniority, it has to be money, disrespect, or a combination of both. I'm sure he'll have his pick of infra firms to choose from, especially given how crap the fundraising environment is now. Their IR team has always been nearly nonexistent since inception and has largely consisted of killing Evercore's PFG team every time they need to raise a new fund. Rough for all parties here.
Good insight. Any idea what the comp/WLB is like for their in-house IR team, since PFG seems to be doing all the work?
Just lost a co-founder too. Wild stuff — wonder if there’s more to come
They have a terrible culture and the top people were too greedy to share meaningful carry with anyone down the chain. One of their senior guys also left to go start his own fund. They have been having an exodus for over a year, supposedly trued up on compensation after the first wave of people left, but it's just not a pleasant place to work.
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