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||4 months 1 week ago|
Searched around but couldn't find much info on this. Anyone know how the Altamont Capital Partners (mid market PE firm) analyst program stacks up against a traditional IBD internship for eventual exit to venture or larger PE shops? ...
|3||6 min 48 sec ago|
Title says it all. ...
|8||30 min 48 sec ago|
Currently working on an industrials deal at my MM IB and absolutely loving it. Curious as to what the best industrials-focused PE firms are? I'd love to focus on this industry going forward. Thanks a lot guys. ...
|9||1 hour 4 min ago|
Anybody know anything about Pinnacle Ventures? Info on them online seems to be pretty sparse. Thanks! ...
|18||3 hours 39 min ago|
I have an offer to a BB PE Co-Investments and Secondaries group in Canada and an upcoming superday @ BB NY S&T as a sophomore. Please help me decide - I'm torn between the two! I want to go into IB in NY at either a BB or an elite boutique for my junior year summer - which internship will set me...
|1||6 hours 29 min ago|
Do most private equity firms allow associates to co-invest in their fund? ...
|13||11 hours 33 min ago|
Hi, I need an advise on starting a career in PE. I want to make a career transition from Financial Risk Consulting (Ops Risk) to PE. My background: Currently, I am an risk advisory senior consultant at Big 4, prior to that I spent 2 years in finance transformation practice in another IT consulting f...
|13||14 hours 24 min ago|
Hi guys, Just created this account to remain anonymous. I recently graduated from a target in UK and wanted to return home (Switzerland). I have been networking ferociously here to break into IB or PE. After a life draining process, I have been offered an analyst position at a PE firm here. They usu...
|2||20 hours 51 min ago|
Hi All - I'm ~5 or so years out of college. I did not do a formal 2 years of investment banking and was instead hired out of undergrad as an analyst at a fund. I've worked at several firms in several major US cities. I've worked at one smaller regional firm with $500M - $1B AUM and have since worked...
|41||21 hours 12 min ago|
Hi All, This is going to sound unrealistic..but here goes.. I am an older surgeon (50 yo) who is interested in Private Equity/Hedge funds (involved in hospitals, clinics etc). Have an EMBA from a top 5 school. How would I combine my interested in PE/Hedge funds with my background and current life-st...
|2||1 day 3 hours ago|
Hi guys, I am facing an important decision for my career and I like to share it with you. Background: * Italian Management Consultant, I've been working for almost 3 years now for Second Tier Consulting firm (Top 4/5 in Europe according to most rankings , way below in US) * Planning to apply to MBA ...
|0||1 day 11 hours ago|
Currently a 2nd year at a bulge bracket looking to move into PE. Just beginning the recruiting cycle and my recruiters are asking me for my bonus number. I was middle bucket ($50K) and am afraid that may turn them off in continuing the recruiting process. Any advice? ...
|0||1 day 13 hours 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) ...
|14||1 day 14 hours ago|
Any good sites you guys read for news on what's happening in the PE space? Or is it just dealbook NYT, WSJ, etc? ...
|2||1 day 17 hours ago|
Guys, long time lurker here. I tried searching for a similar thread, but I don't think it exists. W I am an international first-year fulltime student at a top 5 MBA program (Kellogg/Booth). I went a top 20 liberal arts college in the US. Prior to MBA, I was running the strategic planning & busin...
|5||1 day 21 hours ago|
So I've been interning at a well known tech VC firm for the past 3 months, and I'm loving every minute of it. I had initially planned on doing 2 years of IB and then eventually move into VC. However, I'm re evaluating my option right now and I've decided that I want to go into venture capital immedi...
|1||2 days 5 hours ago|
Have yet to see a clear and concise answer to this. In my opinion I would say anything above 1 billion in AUM is MM and above 10-20+ is approaching the MF PE category. ...
|0||2 days 8 hours ago|
It's been several weeks now since I received my offer from a top MM PE firm. As several other users can attest to, the PE recruiting process can be an absolute grind. After having had some time to reflect on the entire process, I thought I'd share my experience in the hope that it might answer some ...
|37||2 days 9 hours ago|
I'm looking for responses from people who have gone through this before. Let's say I'm looking to lateral from my current company (company A) to a different company (company B) doing the exact same job as I am currently. For example, at my company, you receive your bonus 4 months after the end of ye...
|2||2 days 10 hours ago|
When PE firms purchase asset management firms, do they use leverage? Or is it a simply equity investment? Any other insight would be very helpful. ...
|1||2 days 11 hours ago|
Currently a year into my public finance analyst role and looking towards exit opportunities - interested in joining an infrastructure pe shop or any pe shop that will accept analysts from the niche world of public finance, any comps or suggestions? ...
|2||2 days 19 hours ago|
Hi, I know that there are lots of resources for investment banking interviews and I was wondering if there are any specific resources for preparing for private equity or credit hedge fund interviews? ...
|0||3 days 20 hours ago|
Here's a question for all you Analysts in IBD. Why is everyone so obsessed with exit opps of IBD, group placement, and moving into PE? Why don't people want to stay on with banking and move up to the Associate position? From what I hear, the hours average out to about the same (70-90 hrs/wk) and the...
|106||3 days 22 hours ago|
Hi guys, Do you think it is feasible over 6 months to be brought up to a competent Associate / Snr Analyst at a 4/5 person Mezz fund, with limited debt experience? I have an offer and need to consider day-to-day, how difficult is the job to be brought up to scratch in order to convert to full-time.....
|0||4 days 9 hours ago|
Does anyone have access to or know how I can obtain a list of Family Offices in the US? ...
|11||6 days 22 hours ago|
How in depth are the modeling tests for PE interviews? I've heard that you generally get 30 minutes for a basic LBO without a BS and an hour for a more in-depth one that incorporates a full operating model. For example, how much time would you get for a modeling test like this one?http://www.street...
|0||1 week 3 hours ago|
Guys, What exactly does an associate at a big secondaries fund such as AlpInvest, Lexington Partners... do? How are the exit opps and also bschool applications? Thanks so much! ...
|0||1 week 5 hours ago|
I am working on a model an equity research model for a company which has term loans with bullet repayment, and interest rates of "margin (2%) + LIBOR". Does anyone know what LIBOR is correct/most commonly used as base rate, in terms of 1 month, 3 months, etc.? ...
|5||1 week 5 hours ago|
Hello, This is my first post here although I have read the site on and off for some time. I run an RIA which focuses on alternative Asset Management but recently I was approached by a reputable firm about working with them in raising capital for litigation funding. My question is does anyone have an...
|0||1 week 5 hours ago|
What is the scene like for PE professionals in Denver? Who are the most well respected shops? Is it developed enough to network effectively? Does the lifestyle support longer term opportunities? ...
Walker Texas Banker
|13||1 week 12 hours ago|
Just curious where or if the revolver commitment fee should be included in the paydown waterfall. It's out-going cash so I'm thinking it should be included, but does it come before or after the paydown of outstanding revolver balances? ...
|3||1 week 1 day ago|
Hi, lurker & first time poster. Can anyone share their experience or knowledge on how modeling intensive FoF secondary/co-investing positions are? (Think...Coller, Stepstone, Partners Group, Ardian, Pantheon,etc.) How deep do you really dig into the underlying companies when evaluating a seco...
|0||1 week 1 day ago|
All, I'm currently in my 2nd year in a pre-MBA Associate program at a MegaFund in NYC that doesn't offer VP promotions without business school. I already decided that I don't want to go to business school for several reasons and am looking for advice on my next career move. I want to stay in finance...
|6||1 week 1 day ago|
I recently accepted an internship at a venture capital boutique (very small team). When I went in for the initial training, I expected to sign an official work agreement stating my hours, salary, etc, but my boss and I only discussed it briefly, although he did state the correct hourly salary that w...
|5||1 week 1 day ago|
I am about 3 weeks removed from receiving three PE offers (from MFs and top MM firms), both elated and relieved to be done with such a crazy process. I saw that another user commented saying he'd do a write-up about his experience going through the recruiting process and figured I'd wait to write up...
|113||1 week 1 day ago|
There really isn't much on this site (or really anywhere) regarding private equity business development / deal origination professionals. I know that in Growth Equity, demand for these types of positions is growing as the market space gets crowded. I have an internship this summer for this position....
|5||1 week 2 days ago|
Hi, I'm working on a LBO short model that's very basic. For some reason I keep getting negative cash flow is this normal? If anyone could review my work or would like to help out please send me a direct message ! ...
|3||1 week 2 days ago|
Hi all, what is the difference between starting at Blackstone as an analyst fresh out of undergrad or moving to Blackstone after say 2 years at GS IBD? If you move after 2 years are you on the same level as the analyst that just joined after college? If not then are you an associate/ 3rd year analy...
|1||1 week 2 days ago|
Does anyone have any recommendations on what database to use or how to go about finding financial and other material information regarding a private, PE-backed company? I was thinking of Dunn & Bradstreet or PrivCo but have not used them before and wanted to generate a few suggestions before I s...
|6||1 week 3 days ago|
Any tips on making this transition? Spent 2 years doing BB IBD, at a Hedge Fund now and want to PE. Does it make more sense to get an MBA to make the transition or to try to move over now? ...
|1||1 week 3 days ago|
I know these two spaces are totally different in terms of the type of work they do, but I took a venture capital internship this semester hoping to get exposure to the private markets and evaluating tech products in general. How can I spin this experience to get into PE later on? ...
|3||1 week 3 days ago|
If a company is planning to IPO 15% of their company and they currently have 200 shares outstanding, what would be the formula to calculate the number of shares issued? I thought it would be: (Current Shares outstanding * %IPO) but the actual formula is: (Current Shares outstanding * %IPO) / (1 - %...
|2||1 week 4 days ago|
Hello everyone, I'm in a position to start full-time either in a mid-size private equity or big4 accounting firm M&A advisory. What's your opinion on this if the pay is similar? One thing that I am concerned with in PE is that it might be not as a strong reference when applying for MBA to top ti...
|6||1 week 5 days ago|
Hi peeps, I am currently applying to PE firms for associate-level roles and now preparing my entry into processes. About my background: done 2 years in one of the main BB financing teams on the street (think DB LDCM, CS LFSG, JPM LAF) and 1 year+ at one of the MBBs with lots of PE exposure. Got a nu...
|0||1 week 5 days ago|
I've been working in real estate at a small REPE firm since I graduated 1.5 years ago. Even though I like real estate, I feel my earning potential is too low, and I'd also like to venture into something more challenging. I went to a big 10 under grad b-school (think Illinois, Wisco, Indiana) with a ...
|1||1 week 5 days ago|
Undergraduate junior here, currently going through the recruiting season for BB IBD. We had a small resume drop earlier and I was invited for first round phone interviews with Stripes. They seem very interesting, especially with the kind of companies they invest in (I love tech). But while I have do...
|3||1 week 6 days ago|
Hi guys, wondering if anyone has seen or has a good, flexible model for a startup PE firm or REPE firm (any illiquid manager doing closed-end funds)... I mean the management company itself. The model would show say the first 5 years from formation, and include costs of salaries (with guys hired over...
|0||1 week 6 days ago|
Does anybody know much about Pinnacle Ventures? I have an interview with them lined and was there doesn't seem much information about them online. Would greatly appreciate some word on the street about them? Thanks. Edit: Realized somebody else has already asked the question today. So sorry for the...
|0||2 weeks 23 hours ago|
Hi everyone, Does anyone have a worked example to show the difference between American vs European waterfall calculations? I do understand the concept but would like to see an example on it. Managed to find this article online but have no clue how the figures came about (http://www.slideshare.net/ad...
|5||2 weeks 1 day ago|
Anyone know about these two groups in terms of exit opps to PE, pay, hours, etc.? How are they compared to IBD? ...
|6||2 weeks 1 day ago|
I need advise, I graduate in 2015 from a top 10 international MBA and have since been trading (non prop) at a BB. I have been applying to PE firms as much as possible and receiving little to no responses. Closest was a firm that responded when I applied to an Analyst level position. The reason fo...
|0||2 weeks 1 day ago|
Hi all, First post here, wanted to start with saying thank you to everyone here for sharing your experiences and taking your time to help everyone out. I am in the process to start applying for SA positions 2017, and as many others here I aspire to transition into PE after a couple of years. With t...
|4||2 weeks 1 day ago|
Any info on comp for a 1st year analyst at goldman private equity group? I'm sure it varies between their London/NYC/Salt Lake locations, but does anyone have any idea? ...
|2||2 weeks 1 day ago|
Dear all, I want to apply either to the PE or the Tac Opps analyst program, can somebody give me a friendly advice on my cover letter? (I have a PE background but I also invest on a personal basis) Thanks! ...
|0||2 weeks 1 day ago|
Hi, There are currently two (excellent) offers on the table. One at a large PE investor (team) where I will work in FoF (think: Harbourvest), and another one at a 3-5x smaller pension funds PE investor (still large: >5 bln AUM) where I will work on FoF-Co-Sec investments. Apart from some internsh...
|6||2 weeks 2 days ago|
Lets say I owned a small PE fund and I was the sole principal/GP/employee, and my fund generated $10 million through current investments/portfolio companies. Those $10 million would be taxed through carried interest at 20%, which would leave me with $8 million. Is the $8 million that I earned treate...
|1||2 weeks 3 days ago|
Anyone taken the GoBuyside aptitude test? What's been your experience with it? ...
|25||2 weeks 3 days ago|
How strong is BR PE ? I've heard they've got a very strong Real Estate investing team? How do they compare with independent PE funds? and MF's like Blackstone? Are the exit ops to PE MFs from BR real estate investing and pe good? Salary prospects for BR PE/RE? ...
|0||2 weeks 3 days ago|
Hey everyone, I was directly contacted for an associate position in PE Real Estate for one of the largest Asset Management companies in London. 1. Does anyone have experience with working for such a company? 2. How much do they pay? (I have 4 years work experience in RE and IBD with a wide network ...
|1||2 weeks 3 days ago|
Hey everyone, Hope you're all having a good day, first time poster on a discussion btw. So basically I was working at a reknowned PE house for about 3 years (3 years ago), and I eventually got so frustrated over the internal politics and other issues that had built up over the years, that I quit on...
|9||2 weeks 3 days ago|
Hi All, I am explaining to my senior management the steps and timeline involved in establishment of a private equity firm. I have enlisted the below steps and timelines. If you can please provide your input and also if possible give an idea of initial cost (i.e. only for formation costs / consultant...
|2||2 weeks 3 days ago|
Had some downtime and was just curious about the chances. Quick context: got to my position non traditionally with no MBA. It's one of, if not the most, prominent shops in town, albeit small. I'm loving it and have no intentions of leaving soon. I'm doing very well here as well, or so I've been tol...
|4||2 weeks 3 days 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...
|26||2 weeks 4 days ago|
So, I was wondering how PE at investment arms at large insurance companies are looked at in terms of quality of role, prestige, pay and exit opps. The role would would engage in primary fund investments, co-investments and secondaries. Is this not really thought of as a "true" PE position? ...
|5||2 weeks 4 days ago|
've recently quit my job and was invited to work on a startup with a friend in Asia. We raised over 100k in VC funding and were about to start but my partner had a family emergency and our investor pulled out because I can't do it alone for reasons I won't go into here. After graduating from my targ...
|0||2 weeks 5 days ago|
Anyone have info on interview for Growth Equity at Norwest? Happy to revert back once process is complete. ...
|2||2 weeks 6 days ago|
1. In an LBO deal, do we have to use the target's cash on hand as a source? Say if target has $2MM cash on it's BS and Sponsor is contributing $20MM in Equity, do we include the cash on hand as extra source or the Sponsor's equity includes the $2MM? 2. A hypothetical deal has the following structure...
|8||2 weeks 6 days ago|
Aside from the fact that work permeates all parts of life, what sorts of interests or hobby do you all have? For example, I like to read about psychology, which is why I'm asking this question. Curious to see if there are any consistent interests across the industry. Let's hear em ...
|7||2 weeks 6 days ago|
I am beginning to look for a private equity interview guide to study. Is there anybody who used the WSO PE guide? If so, could you provide a little insight into why you liked it or did not like it. Thanks. ...
|2||2 weeks 6 days ago|
I have an interview coming up with a co-investment fund. What is the best way to answer the "why do you want to work for us" question? I was thinking about saying something along the lines of co-investment model gives associates the chance to really learn about a company, build detailed financial mo...
|9||2 weeks 6 days ago|
I'm a VP in MM PE, ask me anything. Interview prep questions, industry questions, etc. etc. ...
|145||3 weeks 1 hour ago|
*Looking for Life Advice* - Dear WSO Fountain of Wisdom, I need your help to tell me what it is that I might not be thinking about when considering three main job options that I am likely to be faced with soon. Given that I'm in Australia, and the market is smaller and consolidated, you'll see that ...
|12||3 weeks 4 hours ago|
Would really appreciate some intel on XIO Group. They seem sizeable (some sources say $5bn AUM), and recently beat out Advent for a $1.1bn buyout bid. Apart from that, there is an astonishing lack of info for a fund of this scale... Does anyone know anything and can share? Most interested in their A...
|4||3 weeks 14 hours ago|
I'm currently working in FIG at an EB, but focus primarily on Asset Management M&A - out of curiosity, how would you guys pitch other financial institutions (i.e. Insurance, Banks/Thrifts, SpecFin, etc.) for investment purposes. In other words, what would be the most important elements of a busi...
|0||3 weeks 14 hours ago|
Background: I am a senior at a target (think Columbia, Chicago, Duke), have a ~3.9 GPA, interned in one of the "top groups" at GS/MS this summer and received a return offer. Question: which MFs recruit directly out of undergrad? And do they primarily convert interns to FTs or do they also hire FTs d...
|5||3 weeks 1 day ago|
I'm coming into my second year at an upper MM PE fund and starting to think about what I want to do next. My goal longer-term is to move to a smaller MM (or lower-MM) fund hopefully closer to my hometown. In the meantime, I'm thinking I want to do graduate school. My fund is decently well known, bu...
|13||3 weeks 1 day ago|
Received a FT offer to start at industry group with decent deal flow history in European BB in London next year. I know some BBs in the lower half of the informal "prestige rankings" certainly place analysts into top PE funds but realistically is it an uphill struggle if you're not at GS/JP etc. in ...
|9||3 weeks 1 day ago|
eg. an investment company which buys shares of a private company and holds them for a long period, is it considered PE or AM? or say BlackRock becomes a shareholder of a tech unicorn, can this be labelled as PE? ...
|13||3 weeks 1 day ago|
Hey guys, There are already some posts about that but no real answer.. I would like to know whether somebody has an insight or any interesting information about Actis PE and/or Al Abraaj Group (I am trying to break into PE in Africa/Middle East). Another question, do you think I can cold-email an s...
|9||3 weeks 1 day ago|
My buddy is an international student here in the States and he's wondering if it's possible for international students to land buy-side gigs (PE/HF). Do you personally know anyone with Visa sponsorship on the buy-side? What types of funds are they at? A more detailed question - do international stud...
|9||3 weeks 3 days ago|
Currently go to top 20 MBA program and cold-emailed someone at KKR. I have a distinct connection outside of school (think sports rivals, etc.) to said person and thought I could ask about his experience. His response to my email was: You go to ____ university!?!?!?! I only talk to people from Yale...
|13||3 weeks 3 days ago|
Hey guys, So as i may have mentioned on previous posts, I am a combined law student at a top university in Australia. I have Venture Capital and Private Equity Internship experience among others, and some genuine entrepreneurial experience (ie i started stuff that actually got traction). Have read ...
|1||3 weeks 3 days ago|
To start off, I love Kobe Bryant - the guy is a legend. Today, he announced his venture capital firm, called Bryant Stibel, and apparently has been running it along with Jeff Stibel for years. Current investments include sports media website The Players Tribune and legal-services company LegalZoom....
|50||3 weeks 4 days ago|
A few weeks ago, I shut down my ThinkPad for the last time, turned in my security badge, and said farewell to my colleagues - and to PE and private equity interviews. I found myself in a position in which many private equity associates find themselves every summer: thanked for my efforts, praised f...
|82||3 weeks 5 days ago|
I started as a summer analyst in a boutique and things have been good. I have trust and confidence in the management and this seems to go both ways. I've been able to not only analyse but also participate in investor and client meetings. It's the end of the summer and although I have 1 year left in ...
|1||3 weeks 5 days ago|
Hello! Does anyone know anything about Landmark Partners, a secondary PE firm in CT? Culture? Work? Comp? Thanks! ...
|2||3 weeks 6 days ago|
Has anyone ever worked with these guys? If so, what type of project and what was the experience like? ...
|0||4 weeks 1 hour ago|
Does anyone know what the interview for the CPPIB analyst rotational program is like? Does it gear towards the technical or stick to more personal type questions? Moreover, does anyone have any info on the culture and the experience of being an analyst over at CPPIB? Interested in applying for this ...
|1||4 weeks 12 hours ago|
I'm looking for what I believe to be fairly simple data - the total number of small to medium sized enterprises in the EU for each of the past 20 years. I've found some information at the following site, but have been unable to find the historical data. Anyone know of a good source for this data?h...
|0||4 weeks 14 hours ago|
Hello all, Interview question: I am asked to liquidate a portfolio of companies. The portfolio has two companies: 1) Japanese company: no debt + normal cash flows 2) US company: debt (70%) & equity (30%) + normal cash flows After talking to a few investors in the market, I was told the followi...
|0||4 weeks 1 day ago|
What I've heard this team: - Gores consists of two main teams: M&A team + Operations team - More diligence-focused than typical operations teams - Spend non-diligence time as operators of the portfolio companies - No financial modeling required Questions for the group: - How good is the deal flo...
|2||4 weeks 1 day ago|
Hi all, I landed an analyst role at a TINY (think 4 guys including me) regional PE boutique after grad. The firm does micro deals, the largest I've seen so far is $12M. I've been here a few months, and already a couple red flags have popped up, pushing me to start preparing for an exit in 6-9 months...
|4||4 weeks 1 day 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...
|24||4 weeks 1 day ago|
I realize that most of the work is run either out of Toronto or Calgary for the metals/mining sector, but do the big banks do any investment banking out of Vancouver (RBC, BMO, CIBC, Scotia etc.)? How about PE shops; any decent MM shops out there? And is comp signficantly lower at the associate leve...
|19||4 weeks 1 day ago|
Does anyone know about the interview process for ADIA PE fund? What should I expect for format and technicality? Also, is there a mechanical difference from PE firms in the US? Thanks a lot in advance! ...
|0||1 month 29 min ago|
So I'm a 1Y at a pretty good boutique (MoCo/Laz/Evercore/Gugg) that traditionally has had gotten good upper-MM/even MF looks over the years. Headhunter love is usually present even if at BX ("PJT") RR levels, and the older guys at the firms have been getting inbounds for a few weeks asking for my cl...
|1||1 month 11 hours ago|
Hello, I am a consultant with a tier 2 consulting firm, perhaps even lower tier 2. Two days ago I scored a first round interview with the recruiting firm for an associate for role with a EU29B megafund. I know this sounds weird, if not outright BS, but its true: They hire consultants, and an associa...
|10||1 month 13 hours ago|
Apollo Global has agreed to purchase cloud seller Rackspace for $4.3B, a 38% premium to its closing price on August 3. The New York-based private equity firm will buy San Antonio-based Rackspace for $32 a share in an all-cash transaction, according to a statement Friday. As part of the deal, fund...
|10||1 month 1 day 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...
|9||1 month 2 days ago|