The Ledger
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Cheap LBO opportunities exist in Europe and Asia, but not the US
“Now, I think in Europe or in Asia, I think there are still cheap LBO opportunities, right? So a firm like Bain or Blackstone, they're still seeing opportunities to do really attractive buyouts ex-U.S. But within the U.S., you can't.”
Wealth channel allocates only 1% to 3% of $145T to private markets
“I'd say roughly about, on average, one to three percent of the 145 trillion of assets that Bain talks about is actually allocated to private markets within the wealth channel.”
Stavros: Top PE firms each control up to one million employees
“Or in a more concentrated way, could you convince Blackstone, Carlyle, TPG, Apollo, Aries, Warburg, Pincus, Bain, a handful of companies which each control half a million, million employees.”
Oak HC/FT never hires external consultants like McKinsey for due diligence
“And then otherwise, we don't hire McKinsey. We don't hire Bain. We never hire a consultant.”
Connaughton: Bain & Company founded on single-client-per-industry model
“To take you back, you have to go back to 1973 because Bain and company was started on a very different premise as a consulting firm versus McKinsey and BCG and Booz Allen. Effectively, those firms were talking about big ideas. They sold to multiple clients in …”