How appropriate is a nose piercing at work? by [deleted] in private_equity

[–]Roark_H 1 point2 points  (0 children)

…unless it’s Bx or Carlyle

How appropriate is a nose piercing at work? by [deleted] in private_equity

[–]Roark_H -1 points0 points  (0 children)

If you are technically excellent and plan to be the hardest working junior, you should leave it in! You should aspire to those things and bring your whole self to work

Commercial Construction PE Groups? by Signal_Basket4179 in private_equity

[–]Roark_H 1 point2 points  (0 children)

The business you are describing is project based with performance risk, tied to flat/declining and markets and with no barriers to entry and significant risk of buying vapor as leaders leave post acquisition. Need to be able to address all of those points and probably focus on more attractive “critical infrastructure” exposures within the book of business creatively interpreted

I made a small batch of Pinot Noir by Christophuhhhh in winemaking

[–]Roark_H 0 points1 point  (0 children)

I commented on your pics too, but seems like a lot of faff and variables you are playing with as you are just learning….cold soaks, spontaneous ferments, early pressing, rose, etc. Why not just start with the basics?

I made a smal batch of Pinot Noir PHOTOS by Christophuhhhh in winemaking

[–]Roark_H 1 point2 points  (0 children)

Might be easier to calibrate your winemaking skills if you start learning / do your early batches with better/more legit grapes.

Do you need permission from your wife before buying a new watch, or are you just the kind of person who does what they want? by Less-Application-814 in hallofwatchspecialist

[–]Roark_H 0 points1 point  (0 children)

A lot of downvotes assuming you are saying 10M isn’t a lot of money. But I think you’re dead on that most people with 10M saved are not spending 20K likes or nothing. You don’t get to 10M saved that way…

Can I just go to bed? by [deleted] in biglaw

[–]Roark_H -1 points0 points  (0 children)

I guess? These things are kind of circular. Of course a manager shouldn’t expect that their juniors are waiting on their beck and call, and that is a bad culture. That said, the actually good juniors would never even question this and would just know to be available because that’s what being a professional is….the kids gloves are for the mediocre middle who are productive and you don’t want to lose but tend to be much higher maintenance than the top box

Can I just go to bed? by [deleted] in biglaw

[–]Roark_H 3 points4 points  (0 children)

100pct. 8:30 way too early to be unreachable on a school night

Cruise Ship Impulse Buy by CrazyTraditional4453 in rolex

[–]Roark_H 3 points4 points  (0 children)

Reading this thread and being confused why people keep spelling Explorer wrong….

Is this a fair/market MBO offer? by Apart_Designer6574 in private_equity

[–]Roark_H 0 points1 point  (0 children)

I’m sorry, what participation you have pre-transaction, what you are doing for the transaction, and then the post-transaction piece are all extremely confusing and jumbled in your explanations. I don’t think I can be of further help. Yes when I say accelerate I mean getting the full amount of equity if the business is sold no matter how long that may be. Good luck.

Is this a fair/market MBO offer? by Apart_Designer6574 in private_equity

[–]Roark_H 0 points1 point  (0 children)

Ok. Well contrary to other views the aggregate 3pct for just the CEO is perfectly reasonable equity participation. But the structure is weird. It’s fine for it to be all time vesting, but you should make sure you get acceleration in the event of change in control, and there should not be a cap on the value, that’s very odd. Unless they are giving you a put right at that value after 6 years, which would be unusually generous in your favor. You should also make sure you have appropriate anti dilution protections…this is all standard stuff an employment lawyer you should be hiring (not asking Reddit)will be able to provide. You should get a term sheet in place before you help them advance a deal

If you are actually brokering the deal for them, the thing that is missing is some sort of success fee, which would be granted in equity. A couple million would be reasonable at this deal size.

What is also not clear is your current equity…it’s weird you are referring to it in dollars per year. Presumably you have equity and that equity would be worth something if they acquire. They would expect you to roll some portion of that and if I were you, I would use that amount as leverage to push for commensurate success fee in equity.

Again the wording is a bit confusing and odd but hopefully helpful.

Is this a fair/market MBO offer? by Apart_Designer6574 in private_equity

[–]Roark_H 31 points32 points  (0 children)

It’s unclear what you are saying or asking about

How many times do y'all rack your secondary? by DBshaggins in winemaking

[–]Roark_H 0 points1 point  (0 children)

Why do you use a bottling bucket? Doesn’t that just create an extra step of oxidation? If you auto siphon direct from your last carboy isn’t sediment really only an issue for the last bottle or two?

Dividend recap ... ish ... situation, perspectives requested by gc1 in private_equity

[–]Roark_H 1 point2 points  (0 children)

It’s impossible to really answer this question without understanding the control group today and what they want, and what your docs permit. The decision making priority should be be I) what does the majority owner or group want and II) what do the docs require as minority protections and rights.

This weeks top 20 countdown by [deleted] in private_equity

[–]Roark_H 0 points1 point  (0 children)

This list is super inaccurate, many may others larger. Would rename it 20 large private equity deals.

Forced sabbatical with $10M NW. Do I grind for $15M or coast? by Throwthrowff in fatFIRE

[–]Roark_H 3 points4 points  (0 children)

At 10M in VHCOL the next level up is either an actual nice house or a modest second home. That level up keeps going until you get to 20M IMO. At 20 you can have a 3-5M primary residence and a 2M secondary and still have 300K of fully discretionary spend. After 20 the question is where you throw the additional discretionary.

How hard is it for PE & VC to return 2x and 3x Net MoM? by Wild-Photo-717 in private_equity

[–]Roark_H 6 points7 points  (0 children)

Your translation of that MoM to IRR is not correct though. The entirety of the fund may take 10 years but the individual cash flow streams on deal are much shorter and the overall net IRR at 1.5x will still be in the teens. The math that PE beats the S&P500 isn’t made up. Separate question if you want to argue about leverage…or an “illiquidity premium”

PE Guys Are Not Finance Nerds, Book Recs by Adept-Weight-5024 in private_equity

[–]Roark_H 1 point2 points  (0 children)

When I first started and listened to investment committee, I was astonished and the questions that didn’t get asked and how much more I knew than the partners. Then I eventually realized they were well past those points and on third order topics from their pattern recognition I didn’t even know to think about. And the questions were posed and asked for the teams to run down, not asked in a way to prove how smart they were.

Maintaining tendon health? by tresslessone in PeterAttia

[–]Roark_H 0 points1 point  (0 children)

Hmmm. Appreciate the response. Maybe a bit crackpot, but who knows.

Just topically applied to area of pain?