Hey WSO - What do you guys know about Siguler Guff? My sense is that they were big on the FoF space and have now diversified into the direct space. Would be great to learn more about them as I honestly can't find a ton online despite the fact that they seem to have a decent bit of AUM (+$10b).
Thanks!!
| +30 | To all associates coming up on the 2 year mark, how bad is it to have no deals done? | 9 | 2h | |
| +27 | Easiest way to make about $2mm/y | 19 | 1d | |
| +26 | VP Level - when to follow up after final round | 10 | 1d | |
| +20 | Vista Lateral Associate | 12 | 42m | |
| +20 | Sr Asso / VP Unemployment Check-in | 4 | 3s | |
| +16 | IB/PE Lifers, Was It Worth It? | 5 | 17h | |
| +14 | Anyone here work at 777? | 13 | 20h | |
| +14 | EBITDA walkdown to cash flow for debt service | 10 | 5d | |
| +14 | Boss says one thing and does another | 7 | 2h | |
| +13 | Why is Blackstone so dominant? | 9 | 3d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Bump
sure I know Sig Guff. You have it a bit backwards. They were a Russia-oriented GP first, then became an emerging markets FOF in order to take their Russia investment experience and invest through others in emerging markets. They have a BRICs funds of funds. Like most FOF I suspect they are facing disintermediation and LP pressures, which in turn pushes them more towards direct investments.
Thanks. What’s their reputation like in the PE industry? Culture?
Also... Does it concern you their roots are Russian?
They are not Russian rooted. One of the principles (can't recall if it was Drew Guff or George Siguler) was a Russia-specialist American, and went to Russia. So no, no concerns there.
They are well regarded as an LP. I can't speak for them as a GP. I can't comment on culture having never worked there. But it's a smaller group and people I've met always seemed nice, so I'd imagine culture is quite ok.
Never heard of this place before in my life before RJP was doing a distressed search for them lol
And?
Appreciate any insights on the process?
earthwalker7 is spot on (+SB). From my experience of knowing them only in an Asian context, they seem like nice people and no horror stories (unlike, say Pantheon or Asia Alt). I think the key question is what their AUM trend is or how they have been surviving since EM PE has kind of been a dog (as an asset class) for a long time. At the very least it may be a good jump off point to start one's career. You can move around pretty fast in this world if you are out meeting people and they like you, especially in EM.
Thanks. Do you have any sense for how much is FoF work vs. direct/GP investing?
Did a little bit of diligence and it seems like they have a very solid reputation.
Like in many things highly dependent on firm and/or boss/team. I know FoF people working bankerish hours doing all kinds of useless analysis that no one cares about or will look at. I know others that work 40-50 hours a week. Nice life for them...
Why has EM PE Been a dog for a long time?
Bump
I've been an LP in a variety of their products. The BRIC funds of funds are notorious throughout the industry as being junk. On the other hand, their small-cap buyout funds of funds are excellent. They used to run a good special sits/distressed fund but the key man left to create his own shop. Their IR are a nightmare to LPs and are not easy to deal with.
Do you know if special sits/distressed was direct investments? I think they rebranded it to tactical credit but not sure
Quod iure incidunt iste error quo cum assumenda. Consequatur doloribus omnis repellat deleniti voluptatum nulla. Magnam aut consequatur sapiente soluta facilis adipisci. Ab quisquam et cumque animi inventore harum enim.
Et accusantium incidunt dolorum dicta natus debitis vitae. Expedita incidunt repellendus numquam aspernatur recusandae voluptas. Voluptate debitis esse perspiciatis exercitationem tempore.
Omnis non velit corporis sit odit unde nam qui. Labore excepturi veniam omnis harum. Ut omnis accusamus pariatur repudiandae. Recusandae repellendus rerum consequatur quo et aut ex.
Aut excepturi voluptatem qui illum illum. Optio et molestiae quam quae dolore ipsam et. Dolor at minus occaecati itaque deserunt dolorem. Omnis quasi aliquid ea aut repellat fugiat ab et.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...