CPI vs Henkel vs SG Partners
Last updated Oct 2026.
CPI, Henkel Search Partners (HSP) and SG Partners are three New York–based private equity headhunters that our directory labels Mega/UMM, meaning they have been reported to cover large and upper-middle-market funds. Candidates often ask how they differ. This comparison uses only the facts in the OnCycle directory, which come from public reporting; coverage lists are dated, and we state the as-of date wherever it matters. For full profiles see CPI (Continuity Partners), Henkel Search Partners (HSP) and SG Partners.
At a glance
| CPI (Continuity Partners) | Henkel Search Partners (HSP) | SG Partners | |
|---|---|---|---|
| HQ | New York | New York | New York |
| Offices / regions | New York, Chicago, Los Angeles, San Francisco; clients also in Latin America, Asia, Europe | New York | New York, South Florida, San Francisco |
| Founded | 1996 | 2011 | 1991 |
| Levels | Pre-MBA and post-MBA focus (sources talent across levels) | Pre-MBA, post-MBA, principal | Junior PE through senior; also hedge funds, real estate, IB |
| Reported coverage as of | Aug 2022 | 2022–2025 | Aug 2022 |
| Funds named | 11 | 10 | 6 |
History and background
SG Partners is the oldest of the three, founded in 1991. Founded by Sheri Gellman; reports 3,500 placements, 39% junior PE. CPI was founded in 1996. Founded by CEO Brian O'Callaghan. Henkel Search Partners, founded in 2011, is the youngest: founded by Eleni Henkel and Leah Trabich after SG Partners; reports 2,000+ placements. So HSP has roots in SG Partners. (Placement figures are as reported by the firms or by the sources; we have not verified them.)
Offices and reach
All three are headquartered in New York. CPI lists New York, Chicago, Los Angeles, San Francisco; clients also in Latin America, Asia, Europe. SG Partners lists New York, South Florida, San Francisco. HSP lists New York only.
Levels recruited
CPI: Pre-MBA and post-MBA focus (sources talent across levels). HSP: Pre-MBA, post-MBA, principal. SG Partners: Junior PE through senior; also hedge funds, real estate, IB. SG Partners is the only one of the three whose listing extends beyond PE into hedge funds, real estate and IB.
Reported fund coverage
Coverage is where candidates care most, and where the data is most perishable.
- CPI (as of Aug 2022): Advent International, American Securities, Ares Management, Berkshire Partners, Brookfield, EQT, Hellman & Friedman, Silver Lake, TA Associates, Thomas H. Lee Partners, Welsh Carson.
- Henkel Search Partners (as of 2022–2025): Carlyle, KKR, TPG, Warburg Pincus, CD&R, AEA Investors, Vista Equity, Veritas Capital, Cinven, BC Partners.
- SG Partners (as of Aug 2022): Blackstone, Crestview Partners, DigitalBridge, Global Infrastructure Partners, Sixth Street, Morgan Stanley Capital Partners, among others.
The lists don't overlap in our data, which is consistent with the common practice of funds using a particular headhunter for associate searches (our interpretation, not reported). Note that CPI's and SG Partners' lists date from Aug 2022, while HSP's is labeled 2022–2025, so the HSP list may be more recent. Sources: businessinsider.com · transacted.io.
Spin-offs and family tree
Several other firms in the directory trace back to these three, according to our sources. From SG Partners: Amity Search Partners was founded in 2009 by ex-SG Partners recruiters, and HSP itself was founded after SG Partners. Ratio Advisors (2017) later spun out of Amity. From CPI: Gold Coast Search Partners (2009) was founded by ex-CPI recruiters, and BellCast Partners (2010) by ex-CPI MDs. If you are comparing CPI, Henkel and SG Partners, those firms are worth reviewing too; their reported coverage is in the PE headhunters list.
What the data doesn't tell you
Our directory does not include candidate-experience ratings, fees, or success rates for any of these firms, and we don't publish rankings. Coverage lists name funds reported publicly at a point in time; they are not complete client lists and may be out of date. For timing context, see On-Cycle Recruiting 2026 and the timeline; for the process itself, see how PE headhunters work.
Which should you meet? (opinion)
Opinion: the deciding factor is which funds you want, not which firm is "best." If your targets are on one firm's list, that firm matters most to you, and many candidates meet all three. Because these lists are dated, ask each headhunter directly which searches they run. If you've been through any of these firms recently, share your experience.
FAQ
Which funds does CPI cover?
As reported (Aug 2022): Advent International, American Securities, Ares Management, Berkshire Partners, Brookfield, EQT, Hellman & Friedman, Silver Lake, TA Associates, Thomas H. Lee Partners, Welsh Carson.
Which funds does Henkel Search Partners cover?
As reported (2022–2025): Carlyle, KKR, TPG, Warburg Pincus, CD&R, AEA Investors, Vista Equity, Veritas Capital, Cinven, BC Partners.
Is Henkel Search Partners related to SG Partners?
HSP was founded in 2011 by Eleni Henkel and Leah Trabich after SG Partners, according to our sources.
Which is oldest: CPI, Henkel or SG Partners?
SG Partners (1991), then CPI (1996), then HSP (2011).