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The Ideal Employers in private equity and private credit

It was JPMorgan that topped our Ideal Employer rankings - and it was investment banks that dominated the overall top ten. But not everyone voted for banks, let alone investment banks.

When 7,500 people are voting in a survey, there's a lot of scope for variety. We've portioned off the most popular private equity and credit firms in the world to see who received the most votes in our long-awaited Ideal Employer report.

While many of the firms on our list have historically been private equity funds, it’s no longer accurate to describe them simply in these terms: most now invest across asset classes, including private equity, private credit and infrastructure. What differentiates employers in this category is that they are investing in private markets, or in products that are not tradable on public exchanges.

Blackstone received the greatest number of first and second place votes as the Ideal Employer in this category. The firm has over $1tn in AUM per its latest quarterly results. Bain Capital, which ranked a very close second, has “just” $165bn under management – and third-placed Advent International has $89bn. Size is not everything here. Fifth placed KKR has $519bn under management and sixth placed Carlyle Group, $385bn.

Blackstone received the highest number of first and second place votes in the private capital category from people ranking it their Ideal Employer. It scored particularly highly for positive statements concerning the future, and was below the average for perceptions relating to flexible work.

Blackstone global head of HR Paige Ross notes the firm’s commitment to “creating an inclusive work environment,” which she says makes it, “a unique and rewarding place for colleagues of all backgrounds to grow their careers.” Ross says Blackstone has an emphasis on growing and training its juniors: “When new talent join us, they’re immersed right away in our culture of hard work, innovation and excellence. Further, we offer a robust development curriculum, which helps our people progress, gain new skills and maximize the value they bring.”

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It is, by all accounts, exceptionally difficult to get into Blackstone (or any other private equity fund). Blackstone's graduate scheme that accepts, per CEO Steve Schwarzman, just 0.27% of applicants. That’s well below the 6% that are accepted into the Navy Seals, the 4% accepted into Harvard, and the 1.3% accepted into Goldman Sachs. By Schwarzman’s own admission, he doubts he “would be able to be hired today.”

The majority of the top private equity (and credit) funds have made their names as private equity firms – and very big ones at that. Although funds such as KKR (fifth) and Carlyle (sixth) have huge AUM, they performed poorly for many of our qualitative metrics. KKR had some strong results for our pay, interesting work and workforce-related statements, but scored low relative to other firms in this category for statements concerning wellbeing. Second place Bain Capital scored well all round.

The full eFinancialCareers Ideal Employer report can be downloaded here.

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AUTHORSarah Butcher & Zeno Toulon Insider Comment

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