The Wall Street Oasis Private Equity Hall of Fame provides a comprehensive collection of some of WSO's best discussions on the private equity industry. Keep in mind this Hall of Fame does not include Q&A sessions by WSO veterans. To view a full list of Q&A’s & Interviews please nav...
|0||1 week 5 hours ago|
Hi everyone was reading up about LBOs. In such instances, is it always necessary for the company to purchase 100% shares of the company? Meaning to say that post-acquisition it is the sole shareholder of the company. My interpretation of the text online is that they only need to get a controlling sh...
|12||14 min 27 sec ago|
I am interested in learning more about the initial screening process you all undertake when evaluating franchisors/franchisees. Do you typically outsource any of the unit market level work (to understand the competition in the geographic areas and potential for new builds)? What research work do y...
|0||48 min 30 sec ago|
Hi all, Posting for a friend: What is the culture / work environment and career progression at Golden Gate Capital compared to other MM PE firms? How would you rank its performance (and reputation) relative to other top MM firms -- places like H&F, Advent, FFL, Berkshire, New Mountain Capital, e...
|9||4 hours 50 min ago|
Question for any senior guys out there. I am a VP in the private equity group of a large firm. I am considering an offer from a start up private equity firm, who is being founded by an ex-MD of mine in PE and is going to close on a first fund over the next few months (should be around ~$300M). I wou...
|2||22 hours 46 min ago|
Any suggestions on good books that effectively function as case studies about ruthless cost-cutting by PE firms / actually creating value through operational changes? Looking for some inspiration. There are a few books about 3G but not sure how good any of them are. ...
|1||1 day 6 hours ago|
This is founded and owned by Ronald Perelman. What are your thoughts on working for a family office? Since they have permanent capital base, that would be a huge plus right since other GPs have to keep raising capital? ...
|0||1 day 6 hours ago|
Guys, Does anyone have any information related to the Co-Invest and Funds Group of GIC in terms of hours, pay, culture? What is the recruiting process like and how should prepare for these kinds of interviews? Are they different from buyout PEs interviews? ...
|4||1 day 8 hours ago|
Hello all, I currently work for the M&A team of a fast growing F500 company (growth largely result of acquisitions). I love where I work. However, recently a PE group reached out to me about an opportunity to manage the corporate development of one of their recent platform acquisitions. The PE g...
|3||1 day 12 hours ago|
Hey guys, I'm an incoming MSF student with 2 previous IB internships. Is there any way for me to get into a venture capital firm? without going through the IB stint or PE stint? Would appreciate any advice Thanks ...
|1||2 days 4 hours ago|
I am trying to figure out what opportunities exist out there AFTER a stint in Private Equity. Do people leave PE firms after 5-10 years to start companies? Or to be a CFO/CEO of a company? Retire? VC? There are 100s of topics on getting to Private Equity but I haven't found a decent discussion on w...
|24||2 days 5 hours ago|
I have a final round interview for a PE secondary advisory shop. They informed me that I will have a case study including "some basic analysis in excel and prepare a few slides on powerpoint to present your [my] findings". Does anyone have experience with a secondary case study/modeling test? Will t...
|3||2 days 6 hours ago|
Hey guys, Wondering if any of you monkeys and gorillas know of any executive search firms that either specifically work in finding PE Operating Partners, or have a pretty dedicated practice in this space? Even more specific, if you know of any that work with CIOs (Information, not Investment), that ...
|5||2 days 13 hours ago|
I'm aware that many PE shops use Executive Search firms to find quality Operating Partners (CEO, CFO, COO, etc) to plug in at portfolio companies. I'm trying to find some of the larger more prominent Search firms that are used by these PE shops. Any input on these types of firms is greatly apprecia...
|1||2 days 23 hours ago|
Does anyone know how operating partners at portfolio companies at megafunds are compensated? What sort of equity options could an operating partner at, say, Carlyle expect to be awarded over a 3-5 year period? Obviously, the answer is dependent on the performance of the portfolio company in that ...
|7||2 days 23 hours ago|
Hi, I'm interested in pursuing private equity in an emerging market, primarily for the experience (e.g., growth focus, unique ownership structures, cultural context, 'wild west' of investing) and because I love to travel / experience new cultures. I could imagine transferring as a senior associate e...
|2||3 days 6 hours ago|
All, I've recently received an offer to join a minority investment fund (~$400M) which sits within a larger, buyouts MM PE fund in NY (~$2-$2.5B) range. The compensation package is ~$200K all-in and I was wondering if this is in-line with similar opportunities. Thank you for your help! ...
|13||3 days 17 hours ago|
I have a preliminary 'conversation' with a product launcher for an uber-like start up that recently completed a Series C. As far as I know, I would be the first r one of the first dedicated investments guy hired there. The role is for someone with around 2-3 years of experience. Just wanted to know ...
|0||3 days 21 hours ago|
I have an interview for a direct lending role - this is my 1st one and I haven't been able to dig up much information on what to expect in terms of interviews question. Hoping someone could shed some light. Thanks for any insight you are able to provide. ...
|3||4 days 10 hours ago|
Pre-mba monkey here, 2+yrs consultant specializing in pharma/biotech industry, and before that did product management at a fortune 500 med tech. Looking to switch over to the VC side (at a firm interested in health tech), but do not have any contacts in the industry. Any advice on making the transit...
|0||5 days 6 hours ago|
Guys, Is anyone familiar with the credit investing role within Macquarie? HHs said the platform is similar to GS Special Situations Group, but unlike GS, here all the strategies are housed under one fund. I am very unfamiliar with credit investing roles in general so would appreciate any help/ inp...
|0||6 days 4 hours ago|
Hi all - I'm trying to get a sense from those on this forum who work in PE about the types of perks / benefits that most PE funds offer. Is it typical for most funds to provide lunch for free, pay for dinner past a certain time at night, pay for cars / taxis back home past a certain time, give assoc...
|15||6 days 4 hours ago|
Hello everyone, Love this forum and the wealth of information available. Just wanna check your opinions, I am attending LBS next year and post MBA I wish to work in PE. My prior 5 years working experience had been in the medical industry and I have no experience in finance at all. However I do have ...
Mr. Small Hams
|6||6 days 17 hours ago|
Was curious if anyone had any experience with this firm? Started a few years ago so little information on them, seem to be having strong success ...
|2||1 week 3 hours ago|
Hi all- I wanted to start out by saying thanks for all the information made available on the website- has been very helpful thus far. I'm a current law student at a T10 school and have recently decided that law is not for me. I would eventually like to end up in PE, but obviously have some very lar...
|1||1 week 4 hours ago|
Hi team, Trying to network in to a pure growth equity firm in my city and i'm looking for books that will help me understand the process? Thanks, TG ...
|0||1 week 6 hours ago|
Hi guys,I need a little help over here.I was looking to break into private equity from the start of my junior year.However I was only able to get a BB summer internship,however I am not interested in that since I am more into the buy side and I want nothing else other than that.I was able to secure ...
|9||1 week 12 hours ago|
I am starting my internship Monday and getting kinda nervous. On my offer letter it stated that I am going to be doing the following -Support deal team in any research and execution efforts related to thesis development, deal execution, or portfolio company management -Utilize research methods to t...
|1||1 week 1 day ago|
Hey guys! I wondering if VC analysts examine 10k/10q statements in their line of work since they work with privately held companies? Give me dif scenarios if you do thanks! ...
|3||1 week 1 day ago|
Hey Guys, I have not found any posts regarding breaking into PE by working for a portfolio company and becoming an operational partner, hence I decided to open up this thread. I just graduated without a job lined up and have started networking with PE firms focused on the lower middle market and wan...
|19||1 week 1 day ago|
Hi, What modelling techniques would you use to calculate returns for growth equity investments? Other than a simple LBO (which is less relevant because I'm assuming the growth investments in question are not reliant on leverage), I'm not familiar with other methodologies. Thanks in advance ...
|2||1 week 1 day ago|
Has anyone heard of them? They are a small PE firm in Boston that focuses on industrial technology. Thanks, crash17 ...
|2||1 week 1 day ago|
Hi guys, I've got an offer at a small PE fund in London and I was wondering if the pay is ok or not. The fixed salary will be between 35k and 40k GBP, on which the bonus as well as a participation in the carry. I don't have previous full-time work experience, but I do have a Master degree. Do you th...
|8||1 week 1 day ago|
Just started working at a new private equity fund. We don't have a lot of the back end figured out (e.g. HR, investor relations, deal management), although we do have capital and a strong senior. I've worked in PE before, but usually we had assistants or a finance / Ops / compliance team handle a lo...
|2||1 week 2 days ago|
So I am working for a start-up that has raised a bit of capital. The company is in a bit of an awkward spot, because they have raised some angel investor money and the founder has put in money, but a lot of VCs aren't ready for the company. Many VCs want to see certain revenue targets that the sta...
|5||1 week 3 days ago|
I'm exploring options for post-banking opportunities in finance, but I've categorically ruled out getting an MBA. Thus up until now, I hadn't given PE much thought. I'm starting to reconsider PE due to some firms promoting to senior associate sans MBA, which is very appealing. I intend to make my ...
|5||1 week 3 days ago|
I plan on going to Queen's this fall for their Bachelor of Commerce program with the hope of getting into IB and ultimately PE. Unfortunately, I didn't apply to Ivey because I didn't like their program structure (2 years of something unrelated before Ivey begins). I also got into BBA/Math at the uni...
|1||1 week 4 days ago|
Does anyone have any knowledge about the small advisory/IB Blackmore Partners based in Chicago? ...
|99||1 week 4 days ago|
I'm looking at IBD exits- can someone tell me the real PE experience? I have really not enjoyed my time in IBD, and I want to move into more strategic type of work. I was thinking Corp Dev at a top tech firm or Strategy consulting, but figured I shouldn't rule out PE- yet. Can anyone share some expe...
|3||1 week 5 days ago|
I am a junior at a non-target and currently work in startup and SME consulting for a F100. We regularly work with local angels and venture capitalists to raise funding for our clients. This summer I will be interning at a local private equity/venture capital firm (1bn Aum), while also working part-t...
|6||1 week 5 days ago|
Over the last 12 months, we have made a big effort to improve our private equity interview prep package by bringing to you relevant webinars with specific regional information and actual deal walk-throughs...I think for those of you that don't watch the webinars, it would be helpful to give you a br...
|2||1 week 5 days ago|
Hey everyone, I just joined Wall Street Oasis in hopes to get more information. I'm currently going to a semi-target school. JPMorgan, BoA, Morgan Stanley and The Big 4 all recruit from there, I'm not sure which positions exactly but I don't think it's IB, and to my understanding it's very hard to ...
|4||1 week 5 days ago|
Hi all, I'm currently looking for any information on Helios Investment Partners in London : - Culture - Hours - Comp - Exit opps - Interview process Anyone here already interacted with them ? Thanks a lot ! ...
|2||1 week 5 days ago|
I'm currently weighing two internship opportunities for the summer. One is with a search fund that specializes in the ADG space and the other is with a structured/project finance group that focuses on infrastructure and energy projects. It's my understanding that the project finance internship will ...
|1||1 week 6 days ago|
Merchant Banking BB vs. VC Which offer would you take? Both at solid firms. ...
|1||1 week 6 days ago|
Anyone have recent updates on 3i? Know that they went through some cuts in PE back in 2007-2008, and currently has a small team in NY. Thanks. ...
|1||1 week 6 days ago|
Big Announcement: WSO Private Equity Official Resume Template for Experienced Professionals with Deal Experience is Now Public!: Click here for the free investment banking resume template for college students. For those of you with deal or project experience coming from Investment Banking or Man...
|20||1 week 6 days ago|
1. PE fof internship : 6 months minimun chance to convert (considering end of year after 6months, if might be hard to find a full time job right after that) 2. An IB risk management role full time slim chance to go to lbo side ...
|2||1 week 6 days ago|
This summer I am working with the deal team at a small PE shop. Any tips for material I should go over before the internship? ...
|0||1 week 6 days ago|
Let's assume that you're interested in buyouts, but you are an unknown quantity and a novice. ...
|2||1 week 6 days ago|
Hey, I have 2 Off-cycle internship offers, one at Cinven Madrid and the other at GS PIA PE London. Which one should I choose ? Knowing that Cinven do not recruit anlayst whereas GS PIA does. In terms of exit opp ? Thx ...
|11||1 week 6 days ago|
I wanted to tell my story on this forum - as WSO has been the sole reason which helped me learn about the industry and how to break in. I am from downstate New York, born and raised. I was a poor student in high school, so much so I didn't even take my SAT's. I was sent off to a residential junior c...
|34||1 week 6 days ago|
Hi guys, I'm going to attend Wharton this fall. I know that every year a few top students can get jobs at places like Silver Lake and Blackstone as private equity analysts and I'm just wondering how to get a job like that. Besides keeping a 3.9+ GPA, what else should I do? Any advice is appreciated!...
|8||1 week 6 days ago|
Hi, I am choosing between two job offers to work at a Private equity secondary buyer and secondary seller/advisor. Wanted to know if anyone had any insight on which would be better for my overall career at this point - I am 24 y.o. so still a junior professional. Can anybody tell me which would be b...
|1||2 weeks 6 hours ago|
Hi there, I have an 6mth internship offer from a French PE firm focusing on fof, but minimum chance to stay after the internship. I have already graduated from my post grad. Given that it is end of year after six-month and people would stay for their bonus, meaning I might need to wait for a long ti...
|2||2 weeks 19 hours ago|
How helpful will a freshmen PE search fund analyst internship be for future IB job? ...
|5||2 weeks 22 hours ago|
Hey guys- I am looking at banks with PB functions (so think MS/GS/Citi/Boutique PB) that also raise Private Equity funds. Would the PE fund be considered an investment manager from an operational standpoint? Investment Advisors in PB typically recommend asset allocation strategies to their clients, ...
|10||2 weeks 1 day ago|
Hello everyone! I'm writing because I have to make an important decision and I really need a wise advice. I have recently got offered a job in a small VC firm in San-Fransisco. I have also got an offer from an Asset Management company in Boston. VC definitely sounds more appealing to me, however, I ...
|3||2 weeks 1 day ago|
Hi guys, regarding the semester abroad I had the idea to choose a country with a strong SWF so that I would be able to present a coherent story when applying for a position there after a few year in Banking. I read a few positive stories about ADIA, Mubadala and Aabar in the UAE, but also GIC in Sin...
|9||2 weeks 2 days ago|
For those who choose to go this route, how do they usually try to manage their internships? I imagine most don't just go Finance/Finance/Finance their three summers (assume a 4 year program), but I also assume that last summer has to be Finance if you're looking for an "exit" back into PE/HF (perhap...
|8||2 weeks 2 days ago|
Hi Could anybody help me with the tests conducted at IFC during the recruitment process (for associate investment officer in Asia)? I already have undergone the modeling test and a couple of interviews. Now, they say there is an another round of written test and an interview. Any idea what that woul...
|0||2 weeks 3 days ago|
How much financial modelling skills would someone fresh out of undergrad be expected to have if shooting for PE/Banking? ...
|7||2 weeks 5 days ago|
I did an AMA before but I lost my login details. Here I am after a year in PE. This forum is a constant source of amusement / info so I am happy to answer any questions, with the caveat that anyone participating is a total loser like me who is on WSO during Xmas : ) ...
|53||2 weeks 5 days ago|
Long time lurker on a new account. I'm an incoming 1st year IB analyst. Was wondering if anyone could suggest books or other general resources to help prepare for private equity recruiting. Have already checked out the LBO chapters of the Rosenbaum book, and currently reading Moyer's book on distres...
|4||2 weeks 6 days ago|
Monkeys, Can you tell me about the recruiting cycle in London for junior level PE (pre and post-MBA)? I've heard that larger firms traditionally used to hire in the Fall period (beginning September or later, but usually finishing before Christmas). Considering movements in IB bonus timing, is this s...
|0||2 weeks 6 days ago|
I have been cold emailing firms the past week and got an email from a legal counsel ? at a large PE firm. He said they get tons of resumes sent in and can't fit everyone but he would love to meet me on friday to talk about why I would fit in and my plans. He said he would add me to the list. Thi...
|5||2 weeks 6 days ago|
Hi I was wondering if someone had knowledge on the software industry specifically SaaS such as salesforce or zendesk.. If so please PM me, I want to pitch a stock in that industry and would definitely appreciate any help I can get! ...
|0||3 weeks 8 hours ago|
What would be the most appropriate / marketable experience to break into growth equity and venture capital? Consulting or IBD? Do either value the technicals IBD gives you? I would think not, someone please correct me if I'm wrong. ...
|1||3 weeks 10 hours ago|
Hey Guys, I have an interview with a private credit fund this week. I am currently in associate at a boutique IB and am interested in learning more about the day-to-day of a private credit analyst. I am trying to leave IB primarily to get away from the spontaneous hours and working weekends. I do n...
|8||3 weeks 13 hours ago|
Hey everyone. I am currently a Financial Analyst at a large Fortune 500 manufacturing company and enjoy it for the most part but my passion is for investment banking, private equity, trading etc. My experience is mostly in the corporate finance world and I feel this sets me apart and allows me to an...
|2||3 weeks 23 hours ago|
Good evening everyone! (or whatever time it is in your time zone), I wanted to open up some time for Q&A with the WSO community. WSO was a very helpful tool in helping me pursue internships and gain knowledge on particular areas in finance, specifically IB, PE, and VC related. I believe it is on...
|25||3 weeks 1 day ago|
Hi all, Just wondering if anyone had all-in comp numbers for first year associates at megafunds and MM funds for 2015. I've seen a few older threads on the topic, but was just curious how the numbers currently stand. I'll start: Larger MM 140k base up to 100% bonus ...
|30||3 weeks 1 day ago|
Does Ross or Stern hold more weight in terms of recruiting and landing positions in PE or VC firms? I like both schools and am about to decide on Ross, but my parents believe Stern would be better because it is located in NYC and is a private university. I am from north Jersey so I do eventually wan...
|5||3 weeks 1 day ago|
Hey guys, I've been searching around the forum, and haven't found an exact answer to this, so maybe someone could help me out with an educated take. I am an Ivy League undergrad Worked in IB right out of school, on the coverage/M&A side at a BB in NY (not GS/ms/JPM, but top 5-8 let's say) for ...
|7||3 weeks 2 days ago|
After my last AMA, I got a lot of messages and reachouts asking to discuss how we came up with the idea for Nextvest and to get my perspective on how the PE industry is evolving. To that end, I thought I'd start up more of a "discussion-focused" AMA to give my perspective and also to hopefully see ...
|2||3 weeks 2 days ago|
TL:DR: Bonus was $14k this year, and I'm having a difficult time staying positive, what should I do? Full backstory: Joined a small PE shop shortly after school. First year bonus was 0. Reviews were good, no issues, superiors said that they are still early in the J curve and couldn't afford to pay a...
|38||3 weeks 2 days ago|
I have not had a thorough scrub of my resume since grad school (3-4 years ago). As I am looking around for other positions I am trying to determine if my resume is up to industry standards. Does anyone have any experience with the WSO resume service? Is it worth the $199? ...
|0||3 weeks 2 days ago|
I've read this I think once or twice on WSO and many other times on random places on the internet. Clarifications from anyone who is actually in PE would be much appreciated. If they do ask, could one just lie, or do they go through the trouble of requesting evidence? Also, is it possible this is tr...
|19||3 weeks 2 days ago|
Haven't been able to find much helpful advice on the topic above. I have an interview for a "sales" position within a well known prviate equity shop. I am assuming this is more of a raising capital, IR type of role. My goal of all goals was to be at a PE shop, so this would accomplish that 100%, ho...
|12||3 weeks 3 days ago|
Hi Everyone, I'm not sure if this is a trend, but recently I've seen more and more people went from two years at BlackRock to great buy side opportunities, such as KKR and Sequoia. I was wondering what are some advantages that two years at BlackRock have over 2 years at banking? It appears to me th...
|1||3 weeks 3 days ago|
Hello, I'm a junior at a non-target. I've been looking to break into investment banking as a path to private equity, and right now I'm evaluating two last-minute choices for a summer internship (outside NYC). One is a very small, local boutique M&A advisor (does industrials and energy downstream...
|2||3 weeks 3 days ago|
At least that's what David Siegel thinks. While certainly not a huge name in the industry, the guy seemingly has some good firsthand experience-- and isn't afraid to disparage the model of venture capital as a whole. I believe venture capital is broken, both for LPs and entrepreneurs. While the ve...
|11||3 weeks 3 days ago|
I've got a few models here and there to look at and practice with, but they are from BIWS (which is fairly straightforward) or some that are very very messy... I was wondering if anyone have a few good examples to share with me? Something I'd like to see is how dividend recapitalizations are includ...
|33||3 weeks 4 days ago|
Financial gurus, I've been having trouble figuring this out and would appreciate some guidance. So say a company issues stock based compensation. What happens to the balance sheet when the company grants the shares? And what happens to the balance sheet when the employee exercise the shares? What li...
|4||3 weeks 5 days ago|
I'm a sophomore and was offered a Winter Internship for 2017 in their audit service line. I am from a completely different state and applied to the New York office because that is where I want to work when I start working FT wherever that may be. Does anyone who was in my situation know if they prov...
|0||3 weeks 5 days ago|
Hi I am in fact evaluating an offer of in house FIG M&A Corp Development. I am age 30, been in the industry and consulting and thus offered this Corp Development role. The deal volume will be huge and I am thinking if I would be able to pitch myself for PE after 2-3 years in Corp Dev. Should I ...
|7||3 weeks 6 days ago|
The title says it all - I just went through a 2 hour lbo model, and my balance sheet didn't balance. I did get down to sponsor IRR...but just wondering if the unbalanced balance sheet is a dealbreaker...? ...
|10||3 weeks 6 days ago|
|12||3 weeks 6 days ago|
Hi all, See here: http://www.askivy.net/articles/private-equity/inte... Not sure how to forecast the change in working capital (there is a funding gap at the beginning, but then? should the change in working cap be equal to year 1?). Got SBs for any help. ...
|2||3 weeks 6 days ago|
I have been in TS at a mid market Big 4 for several years now. I have been actively looking for a number of jobs, however, nothing has come to fruition quite yet. My fear is that I will get too far into Big 4 that I will become too "specialized" and be less attractive to potential employers. 1) ...
|13||4 weeks 7 hours ago|
Hey all. I am thinking about doing a masters degree in the UK (I am American) for various reasons (money, time etc). However, my grades are not good enough to get into the top tier schools (Cambridge, Oxford, LSE, St. Andrews). I was just curious as to your thoughts whether or not firms (national an...
|1||4 weeks 7 hours ago|
Hi there, am hoping to get your view on the appropriate carry structure (as well as base + bonus range) - $100 - $200mn VC fund - I will join before securing anchor LP (i.e., have not started fundraising) - Joining as senior associate (4 years of BB IBD experience) - 1 to 2 partners (depending on fu...
|8||4 weeks 10 hours ago|
How common / likely is it to move from secondaries PE to direct PE? Wondering if moving into secondaries will rule out any chance of moving into direct PE down the line, if secondaries doesnt prove to suit long term This is at the Associate level btw ...
|1||4 weeks 1 day ago|
So I am looking at SaaS business model. They are paying re-sellers a trailing commission of the clients that they sign-up/sell to. It's 10% annually of whatever revenue their client pays. There are no upfront costs to the company. How would you calculate the cost of customer acquisition? Someon...
|0||4 weeks 1 day ago|
Just curious, do superstars go into buy side right away or do they go into a top bb group? ...
|23||4 weeks 1 day ago|
Would putting a 740 GMAT on your resume during PE associate recruiting (out of IB) help or hurt? I'd really appreciate if someone could shed some light on whether or not GMAT helps and if 740 GMAT is acceptable by MF and top MM funds. For context, not trying to compensate for low SAT or anything. J...
|4||4 weeks 1 day ago|
What is the correct way to model a minority position in a company, financed with a combination of new leverage and convertible preferred securities? For example: Assume the founder of the business owns 51% and a sponsor owns 49%. With new leverage and sponsor equity, the new sponsor would purchase t...
|2||1 month 2 hours ago|
Hello, I was in the US Air Force for 4 years, left to finish college at an extremely non-target college in the southwest and was able to break into Private Equity for a state pension fund. I have competed against peers from all over the country, including some a Ivy League schools and have worked ...
|6||1 month 5 hours ago|
Can anyone recommend any VC books for non-business student? If it matters, I am particularly interested in biotech/pharma. Thanks. ...
|8||1 month 8 hours ago|
Hello all, I am looking at a company with inventory that gets financed through its vendor at ~1% interest. The company books this as part of accounts payable. Question is, does this get treated as debt and will the equity purchase price get reduced by the value of accounts payable (portion that a...
|0||1 month 9 hours ago|