Subban and Lindsey Vonn eye $7.2 million for Beverly Hills villa. Reviews from Platinum Equity employees about Platinum Equity culture, salaries, benefits, work-life balance, management, job security, and more. Facebook sold ads based on ‘wrong data,’ manager claimed. The Partners and Principals lead in-house teams and guide every facet of the firm’s strategy, from investment theses and deal processes to portfolio development and financial management. I only worked for a short time. Glassdoor has 11 Platinum Equity reviews submitted anonymously by Platinum Equity employees. Associate salaries at Platinum Equity can range from $87,924-$112,802. Transaction oriented business is a fantastic education. Stocks posted modest losses on Thursday on discouraging economic data and a steady rise in bond yields. Africa has surpassed 100,000 confirmed deaths from COVID-19 as the continent struggles with a dangerous resurgence. Platinum Equity is a private equity investment firm that focuses on leveraged buyout investments of established companies. Morgan Stanley and Goldman Sachs are financial advisers to Platinum Equity, while J.P. Morgan is advising Ingram. This will replace the current featured review for targeted profile. A free inside look at Platinum Equity salary trends based on 8 salaries wages for 7 jobs at Platinum Equity. Could be construed as ruthless but you know this going in. ), 7 of the Best Situational Interview Questions. In all, the state will provide 5.7 million payments to low-income Californians as part of the $9.6-billion economic recovery package. Key players in the GameStop saga testify to a House committee examining the wild swings in the stock price of the video game retailer. No meeting has yet to occur, but Tylek said when one is scheduled she plans to bring formerly incarcerated people and family members of current inmates. Glassdoor has 11 Platinum Equity reviews submitted anonymously by Platinum Equity employees. Announces Agreement to Be Acquired by an Affiliate of Platinum Equity for $10.00 Per Share in All Cash Deal Valued at Approximately $2.74 Billion » Platinum Equity Completes $2.7 Billion Acquisition of Cision Ltd. » updated 1/20 This is the Platinum Equity company profile. Glassdoor has 11 Platinum Equity reviews submitted anonymously by Platinum Equity employees. We answer your questions. 4 Platinum Equity reviews in Los Angeles, CA. “Our responsibility is to be able to provide our services in any model that a jurisdiction sees as being important or valuable in how they want to manage their corrections business,” he said. The firm focuses on leveraged buyout investments of established companies in the U.S., Europe and Asia. Jim Baker, director of the Private Equity Stakeholder Project, another advocacy group, said that despite the fund’s closure, the “efforts to engage Platinum Equity around its investment in Securus are ongoing.”. Africa reaches 100,000 known COVID-19 deaths as danger grows. -Good amount of responsibility and independence of thought, -Salaries not market competitive (disconnect between hours worked and compensation) Are you sure you want to remove this review from being featured for targeted profile? This estimate is based upon 2 Platinum Equity Associate salary report(s) provided by employees or estimated based upon statistical methods. Securus also said it will “build on” a pledge it made last year to offer contracts without so-called site commissions — charges tacked on to the costs of calls that help fund corrections agencies. Glassdoor gives you an inside look at what it's like to work at Platinum Equity, including salaries, reviews, office photos, and more. The company is hoping to bring down the overall cost of calls, as well as fees paid, for example, to put money in an inmate account, by reducing its cost structure as well as negotiating lower fees paid to its vendors. Platinum Equity Advisors, LLC operates as a private equity firm. Securus served some 3,400 correctional facilities and handed about 240 million calls in 2018, making it the second-largest prison telecom by market share. Am I eligible for California’s $600 COVID-19 stimulus check and other aid? Subban and Lindsey Vonn are asking $7.175 million for a four-bedroom villa they bought last year for $6.75 million. The team was very dedicated to their work. Gores, a high-profile NBA owner credited with helping revitalize Detroit by moving the Pistons downtown from the suburbs, told The Times last fall he was personally committed to overseeing the reform of Securus and offered to meet face-to-face with activists. Assets under management at private equity firms stood at $2.8 trillion at the end of 2017, with buyout funds making up a majority at $1.6 trillion, according to Consultancy.UK. There are currently no benefit reviews for this company. U.S. jobless claims jump to 861,000 as layoffs remain high. Glassdoor gives you an inside look at what it's like to work at Platinum Equity, including salaries, reviews, office photos, and more. Learn how to enable cookies. -No performance feedback (except via word-of-mouth from other teams), Great company culture; Always trying to improve, Usual office politics; Managers often keep to themselves and don't interact much. Platinum Equity Advisors is a hedge fund with 100 clients and discretionary assets under management (AUM) of $22,898,876,333 (Form ADV from 2020-07-22). Ingram, which has 35,000 employees and operates in 60 countries, reported over $47 billion in annual sales for its fiscal year 2019. Glassdoor This is the Platinum Equity company profile. Salaries posted anonymously by Platinum Equity employees. Platinum Equity specializes in closing complex acquisitions across a diverse range of industries. Corrections corporation GEO Group has since sued to stop the law from taking effect. He joined the paper in 2015 as an assistant business editor and has overseen finance, real estate and Washington business coverage. “The degree to which we can develop and deploy tech that enables us to do without third parties we can lower the costs of the transactions.”. It still has many contracts with rates topping $1 a minute, but a representative said that less than one-tenth of 1% of calling time was charged above that rate in the first half of last year. Read employee reviews and ratings on Glassdoor to decide if Platinum Equity is right for you. Your response will be removed from the review – this cannot be undone. We are going to make mistakes along the way,” he said. “If I can take costs out of the back office, if I can take costs out of data storage, if I can take costs out of data processing, if I can take costs out of infrastructure — all of these things enable us to be able to lower the cost base,” Abel said. Here’s Exactly What to Write to Get Top Dollar, How To Follow Up After an Interview (With Templates! Glassdoor will not work properly unless browser cookie support is enabled. Platinum Equity named a new C-suite in late 2020, including CEO Abel Clark, formerly of fintech startup TruSight. 8 Questions You Should Absolutely Ask An Interviewer, "Great company - lots of benefits but high turnover", "Great fast moving environment requiring lots of responsibility and initiative", Emerging Markets Private Equity Association. It specializes in mergers and acquisitions, corporate divestitures, public-to-private transactions, and buyouts. Securus will offer taxpayer-funded or commission-free contracts to agencies “in every circumstance where it is possible,” but will still offer commissions if that is what corrections agencies want, Abel said. No clear leadership, everyone is constantly unhappy or overwhelmed. The campaign against Securus follows a longer-running movement by activists to expel private operators from the corrections field. The Platinum Equity Partners and Principals, including Tom Gores, are a driving force behind Platinum Equity’s continuity, consistency, and shared vision. You get what you put in. “All of their responses start with a common thread, it’s someone or something else’s fault not ours: it’s the government, it’s the third-party vendors, it’s the old technology. Platinum Equity was founded in 1995 as a private-equity firm specializing in leveraged buyouts of corporate divestitures. The campaign brought some unwanted publicity to Platinum, leading the Pennsylvania State Employees’ Retirement System to decline to make a $100-million prospective investment in Platinum… It seeks to invest in information technology, software, telecommunication, logistics, metals, manufacturing, Laurence Darmiento covers wealth and dealmakers in Southern California for the Los Angeles Times. People tend to come and go after two or so years of working here. P.K. created last fall in a corporate reorganization, 226 of the 250 jails where calls were most expensive, preliminary, unaudited financial statement, More vaccines coming to California, but first doses remain limited, Do I still need to wear a mask after being vaccinated? I have been working at Platinum Equity full-time for less than a year, This is a great company to work for - lunch is provided for by an in house chef and kitchen staff. Cision Ltd. The Company focuses on management buy-outs, acquisitions, mergers, recapitalizations, restructuring, and other corporate operations. It's awfully sad to witness. See all Associate salaries to learn how this stacks up in the market. Platinum Equity was founded in 1995 by Tom Gores. -No transparency in connection with compensation (e.g., bonus is a complete guessing game) The number of Americans applying for unemployment aid rose last week to 861,000, evidence that layoffs remain painfully high. (Bloomberg) -- U.S. private equity firm Platinum Equity is in advanced talks to buy HNA Group Co.’s Ingram Micro Inc. in a deal that values the technology distributor at about $7 billion, including debt, according to people with knowledge of the matter.Discussions are ongoing and talks could still fall apart, said one of the people, who asked to not be identified because the matter isn’t public. Glassdoor has 11 Platinum Equity reviews submitted anonymously by Platinum Equity employees. The deal is expected to close sometime in the first six months of 2021, according to Platinum Equity. The U.K. Supreme Court ruled that Uber drivers should be classed as “workers” and not self employed in a decision that threatens its business model. Tylek was among the leaders of the campaign to pressure several pension funds from investing in Platinum Equity Capital Partners V. The campaign brought some unwanted publicity to Platinum, leading the Pennsylvania State Employees’ Retirement System to decline to make a $100-million prospective investment in Platinum’s fund. New court documents show Facebook managers raised alarms about the way a key metric was misleading advertisers. Platinum Equity, LLC is an American private equity investment firm founded by Tom Gores in 1995. It is a very educational experience, coupled with supportive superiors who ensure you are not being given pointless tasks, but rather fulfilling/necessary ones. Perhaps the only complaint I have would that sometimes I find myself without work to do for a little bit. None from my perspective. The firm is currently investing from Platinum Equity Capital Partners V, a $10 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. Its holding company lost $33.4 million on $684 million in revenue that year, according to a preliminary, unaudited financial statement submitted to a state regulator. In the reform package, Securus is pledging to work with corrections agencies to “broaden rate relief” by targeting the elimination of what it calls “legacy outlier rates.” A 2018 survey by an advocacy group found that 226 of the 250 jails where calls were most expensive had contracts with Securus, with three charging $24.82 for a 15-minute call. I worked at Platinum Equity full-time for more than a year, -In-house catering service Copyright © 2008–2021, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. { "isFollowing": false, "isEEPActive": false, "isEiHeaderFollowBtnDos2Enabled": true }, Find a Great First Job to Jumpstart Your Career, Getting a Job Is Tough; This Guide Makes it Easier, Climb the Ladder With These Proven Promotion Tips, A Guide to Negotiating the Salary You Deserve. Justin Bieber sells Beverly Hills home at a loss. “Society’s view of corrections has been changing over the last couple of years and is significantly more focused worldwide — but certainly in the United States — on outcomes, on reduction of recidivism and successful reintroduction into society,” he said. Bianca Tylek, founder of Worth Rises, a New York nonprofit seeking to “dismantle the prison industrial complex,” said she was unimpressed with the company’s pledges and that it could move to unilaterally reduce rates rather than simply offer commission-free contracts and wait years to negotiate them. Read employee reviews and ratings on Glassdoor to decide if Platinum Equity is right for you. L.A. postpones COVID-19 vaccine appointments as winter weather delays shipments. All content is posted anonymously by employees working at Platinum Equity. Platinum Equity, LLC is a large private equity investment firm. I have been working at Platinum Equity full-time for more than 8 years. Glassdoor A free inside look at company reviews and salaries posted anonymously by employees. “It’s our view, as it has been, that it’s a business Platinum Equity should reform but ultimately get out of. Platinum Equity, LLC operates as a private equity company. Their last reported 13F filing for Q3 2020 included $2,182,454,000 in managed 13F securities and a top 10 holdings concentration of 100.0%. Choose a different language and keep reading other reviews. The firm is headquartered in Beverly Hills, California with regional offices in Boston, Greenwich, New York City, London, and Singapore. There really are not many cons. Darmiento previously had been the managing editor of the Los Angeles Business Journal and was a reporter for the Los Angeles Daily News and other outlets. Robinhood CEO defends actions in GameStop saga at hearing. Hours are long, but worth it. Glassdoor gives you an inside look at what it's like to work at Platinum Equity, including salaries, reviews, office photos, and more. Unfortunately, there is a higher rate of turnover here than at other companies I have worked for in the past. The firm focuses on leveraged buyout investments of established companies globally. Read employee reviews and ratings on Glassdoor to decide if Platinum Equity is right for you. Gavin Newsom signed a law in October that banned for-profit prison and immigrant detention facilities in California. The prior year it said it earned $67.7 million. Tell us. Abel also was named chief executive of Aventiv Technologies, the parent of Securus, created last fall in a corporate reorganization Securus said was meant to accelerate its transformation into a “diversified technology company.”. This is the Platinum Equity company profile. (refini.tv/2VUKR6m) All content is posted anonymously by employees working at Platinum Equity. About 12,500 people will have their appointments delayed — and those affected should be notified by text, email or phone, according to a city statement. The activists have accused Securus, based outside Dallas, of charging excessively high rates for calls. Tom Gores, founder, chairman and chief executive of Platinum Equity. It formed in 2016 when it was spun out from Emerson Electric Co., and then went private in a $4 billion sale to Platinum Equity, a West Coast-based investment group, and … Gov. I didn't see many cons. Dave Abel, a former IBM executive and PwC partner, has been named chief executive of Securus Technologies, which has been a lightning rod for criticism since Gores’ Beverly Hills private equity firm, Platinum Equity, acquired it for $1.6 billion in 2017. Stocks fall as investors fret over jobless claims and inflation. But there are plenty of independent actions Securus and Platinum Equity could take to create immediate relief for families, but these would hurt their bottom line,” she said. Are you sure you want to replace it? Glassdoor has 11 Platinum Equity reviews submitted anonymously by Platinum Equity employees. Platinum Equity Investment Banking Associate Jobs, 9 Attention-Grabbing Cover Letter Examples, 10 of the Best Companies for Working From Home, The Top 20 Jobs With the Highest Satisfaction, 12 Companies That Will Pay You to Travel the World, 7 Types of Companies You Should Never Work For, How to Become the Candidate Recruiters Can’t Resist, 11 Words and Phrases to Use in Salary Negotiations, 10 High-Paying Jobs With Tons of Open Positions, Negotiating Over Email? It’s a business that is fundamentally based on extracting money from communities of color and poverty and families facing extremely difficult situations,” he said. “I fully expect that there are areas of these commitments that will go better and areas that won’t go as well. But it did not prevent Platinum from raising its biggest fund yet. Other elements of the pledged reforms include hiring a third party to produce an annual report on the company’s rates, spending at least $3 million this year on programs to improve prisoners’ reentry into society and to reduce recidivism, and holding quarterly meetings with inmates and families that Abel plans to attend. The firm is currently investing from Platinum Equity Capital Partners V, a $10 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. I have been working at Platinum Equity for less than a year, Dedicated, inspiring. A New York native, he is an alumnus of Cornell University. Our deep pool of capital enables us to consider a wide range of deals; our M&A teams mitigate transaction and transition risks to the benefit of sellers, their employees, their customers, and their suppliers; and our operational expertise enables us to see opportunity where others may not. Uber drivers are workers, not self employed, U.K.’s top court rules. In Beverly Hills, athletes P.K. Very limited regard for personnel on a personal level. You could work here 20 years and disappear without an announcement. History. Platinum Equity is a global private equity firm with $13 billion of assets under management and a highly specialized focus on business operations. Read employee reviews and ratings on Glassdoor to decide if Platinum Equity … We’d like your thoughts about how companies are prioritizing their employees’ mental health in the return to the workplace. How to Answer: What Are Your Strengths and Weaknesses? A prison telephone company owned by Los Angeles billionaire Tom Gores has brought in a new chief executive and pledged to implement a series of reforms under pressure from criminal justice activists who have targeted the firm and its owner. Those costs are typically borne by inmates and their families, a population that is disproportionately poor and minority. Read employee reviews and ratings on Glassdoor to decide if Platinum Equity … perks include free tickets to sports events and breakfast buffets every first friday of the month. Be prepared to work hard and play hard. Activists say commissions transfer the cost of running jails and prison to poor inmates and families. Abel, who joined Securus as its president last year, said that he took the chief executive posts because the majority of his career involved working with public sector agencies to deploy private-sector technology to “solve big societal problems.” Reforming Securus in an evolving corrections industry qualified as such a challenge. Private equity concept embodied in HR policies as art imitates life. All content is posted anonymously by employees working at Platinum Equity. Justin Bieber just sold his Beverly Hills home for $7.955 million, about half a million shy of what he paid for the property in 2019. Lunch, Benefits, Location - great, but not the reason to stay at an employer. Securus has already negotiated new contracts with corrections agencies that it says has reduced the average cost of a call over the last three years by 30% to 15 cents a minute, and in the case of New York City made them free by transferring the costs to taxpayers. The process for getting a COVID-19 vaccine varies county to county. Last year, while Platinum was raising money for its latest buyout fund, critics pressured pension funds not to invest, but this month the firm announced it had raised $10 billion — $2 billion over its target. The firm is currently investing from Platinum Equity Capital Partners V, a $10 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. How should the workplace environment change post-pandemic? COVID-19 vaccines are now being administered to healthcare workers in the U.S. What are your questions about the timeline, the safety or the science? Great workplace to take initiative and learn quickly.