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SPOTLIGHT: Private Iniquity Rules and FAQsThe goal of Wall Street Oasis' Private Iniquity is to give our users the best possible snapshot of life in private equity, from internships and recruiting to compensation and career progression. Working towards that goal, we've created a Frequently Asked Questions page for Wall Street in general, as...
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Debt Buyback/ExchangesHey guys, Was just wondering if anyone had any good resources, articles, or personal experience they could share regarding debt exchanges/buybacks. I've seen some public companies do this when they get distressed (buy back/exchange debt at a discount to face to lower leverage and improve interest ex...
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Life after PE - the other roadAs I mentioned in a previous thread ("How to Make VP in Private Equity"), a couple years ago I said goodbye to the private equity industry and decided to try my luck in the tech industry. Not as a VC associate. Not as an "entrepreneur". As a programmer. Yep, you read that right. After thinking ...
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Private Equity Associate Off Cycle RecruitingDoes anyone know if there are any firms looking for pre-mba off cycle mba hires? Either immediate or summer 2016? What is the best way to be plugged in to opportunities like this that pop up? ...
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PE Investment Memo Examples?Fellow monkeys: Does anyone have an example of a PE investment memo that they can share? Ideally, I'd like to see one from a prior case study when you guys went through buy side recruiting. If nothing else, can someone give me an outline of some of the most relevant topics that I should hit upon whe...
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UnleveredIRRHello everybody. I am analysing the Internal Rate of Return from an operation of LBO by Private Equity firm. I have already computed the levered IRR. Can I compute the unlevered IRR in the following way? As Cash-outflows at the entry, I put the total purchase price. While for the next cash-flows I p...
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Boutique PE firmsI am currently in a mid-market city working in Big 4 TS. I am in the interview process with a small PE firm in the same city. Is there something as too small of a PE firm? I have never heard of the name before but all of the resumes of the team members are very impressive. Also, I know every firm ...
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Moving to the Southeast - Any advice for job huntingSo I am looking to potentially move to the Southeast for family reasons and starting my job search with the goal of being down there by year end to March next year. I am currently looking for any advice on head hunters in the area for PE/VC/HF work...please let me know. ...
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Carried Interest QuestionHi -- Novice question here: could someone explain to me the concept of "dollars at work" with respect to carried interest? For example, if I'm given "$500k" in carry dollars as part of my compensation plan, what does that mean? Thank you in advance. ...
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Cinven case studyAnyone knows how the recruitment process looks like in Cinven for the internship program? I know about the case study in the second round. Any thoughts what's that? LBO? Investment pitch? DCF? This is for internship program in London. ...
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What are the current post-MBA (Senior associate) salary/bonus numbers?Just wondering what to expect to be raking in 6 years from now. Anyone familiar with these numbers? Average post-MBA (senior associate) salary/bonus for megafunds, large funds, and MM? I'm thinking for megafunds it's somewhere around $150k salary and $150k bonus. ...
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PE first round interview at mega fundHi, I have my first ever PE interview coming up and it's with a relatively new team at a mega fund (KKR/TPG/BX type, and it's in London). I think I'm well prepared for the technical / modelling stuff (which I think it's more likely to get after 1st round interview) but a bit worried about the first...
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How to talk with the VP, super fan of the LOTR and GOTFind out the interviewer will be a fan of Lord of the rings, Hobbits, and Game of thrones. ...
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PE Funds That Sponsor MBAAnyone know of funds that sponsor MBAs (even if just for the very top associates)? If not, then what is the best route to go from an associate role at a fund that forces you to leave for an MBA, to a senior associate / VP in PE without going to business school? Obviously lateraling comes to mind, b...
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Groups within PE firmsWithin Private Equity firms, I know that there are different groups aside from the actual Private Equity group. Can somebody elaborate on why the PE group is generally regarded as the most prestigious and desirable? If you work in a different group within a PE firm (e.g. fundraising, investor relati...
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Going Back to BankingI know this sounds like an insane question, but would anyone here go from private equity back to investment banking? I know exactly what the implications are here from a lifestyle/compensation perspective, but I'm wondering what happens to the promising Associates/VPs who just don't have what it t...
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Fundraising Role - Seeking AdviceI am an investment banking analyst at a middle market bank in coverage finishing my first year and I am seeking advice. I would very much like to break into the hedge fund / PE fundraising space at the end of my second or third year of banking. I know where my strengths and interests lie and feel ...
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Agribusiness PEDoes anyone know where I can find a comprehensive list of PE funds that focus on Sub-Saharan Africa? ...
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WSO Private Equity Resume Template for Professionals with Deal Experience is Released!Big Announcement: WSO private equity 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 Management C...
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Private Equity 2/20 business modelHi guys, Just learning finance on my own. Would appreciate if anyone can throw some light on the business model of 2 and 20 of Private Equity firms. Assume XYZ firm, a PE, raises $100 from investors, takes a 2% cut (of AUM) to take care of its internal operations. XYZ then invests $90 in 3/6 private...
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Relationship Manager ->Actuarial Analyst -> PE analyst offer(24 Yo). What now?Thanks for WSO. Received PE analyst offer but in a small emerging country in Central Asia. The final destination is the "Street". But it shouldn't take forever. What now? Need advice. Background: - Business planning club - Local university, Econ major, GPA 3.2 - Local second biggest commercial ba...
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PE Asset Management/ FoF / Consulting - Career PathRecently finished undergrad and accepted an offer at a PE Asset Management firm. Hoped to work on a team doing PE secondaries or co-investments (transaction based work), but ended placed on a team doing manager due diligence. While the work is interesting with a ton of exposure, I am worried I am wa...
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2nd Round coming up - HELP!So I have managed to attain 2nd rounds with a decent sized shop about 70bn aum (avp level role I believe). During this 5-7 hour 2nd round at least an hour will contain a case. It will be focused on asset allocation since the role will deal with portfolio allocation. My background is in consulting an...
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Taking a break after a pre-MBA stint in PE -- doable, or a disastrous idea?As some of you already know, I'm a second year Associate in lower middle market PE and I'm coming to the end of my stint (program ends in July) and am pretty burnt out. I don't really care for PE and am just brutally sick of working on deals. The process is monotonous and it's something I'm just not...
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Post MBA associate to PE FoF's / Secondaries?Hi all, Apologies if this has been mentioned before. While the topic of the slim possibility of getting into a direct shop without analyst experience has been beaten to death, does the same likelihood apply for PE FoF / secondaries? Appreciate any advice. Thanks. ...
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