Private equity firms don’t follow the same recruitment schedules as investment banks, and as 2017 draws to a close, Goldman Sachs analysts have been making the jump.
Summit Partners, the Boston Massachusetts-based fund focused on technology, healthcare and “growth products", has raided Goldman’s junior ranks for the third time this year. Niclas Dæhli Priess, who has spent the past year and a half within Goldman’s advisory group focused on consumer, healthcare and real estate deals, joined Summit’s London office earlier this month.
He follows Nik Ohri, an analyst who worked in Goldman Sachs’ leveraged finance division for only one year before joining Summit’s investment team in mid-November, and Mats Heims, an analyst within the bank’s retail and healthcare banking team who joined the private equity firm in May.
Summit Partners has a history of poaching juniors from Goldman Sachs in London. Shaun Dunlop, a former analyst in its EMEA M&A team, joined last year, as did Jono Pagden, who spent five years at the U.S. investment bank. Britt Schuurs left her analyst role at Goldman for Summit Partners in 2015.
It’s also recruiting further up the career ladder. Luke Parsons, who spent more than seven years within Jefferies M&A team in London, joined as a vice president in November.
As we pointed out previously, Summit Partners had just 18 people employed in London at the end of 2016, so relatively speaking it’s been expanding this year. Average compensation came in at £151k ($200k) last year.
Summit is not the only private equity firm targeting Goldman Sachs juniors at the end of the year. KKR has just brought in Lorenzo Anolli as an analyst in London. He was previously an analyst within its telecoms communication and technology (TMT) team.
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