Leonard Green & Partners

dontbugme:

bump. any update?

You looking at associate or analyst level? At the analyst level they have had a program established for a couple of years now, and along with Ares are your two big options for PE in LA out of undergrad. They have been doing accelerated recruiting in the fall for SA positions. For this year, I think they may be in the middle of the process or even completed at this point, but I'm not sure.

dontbugme:

at the analyst level, how would lgp compare to top tier ib?

My take on evaluating buyside options vs IB out of undergrad is that you should only go the buyside route if it is an industry/firm/geography where you really want to be and could see yourself long term. At a top tier banking group you are very likely to have recruiting opportunities on par with or better than a firm like LGP. So the advantage to going direct to the buyside is primarily that the experience for your first two years may be more relevant (although some argue you'd be better served in the long run getting more deal exposure at a banking group) and hopefully you can be promoted within the firm to Associate and possibly beyond. But both of those factors don't amount to much if you join a place like LGP but know you aren't going to be happy staying long-term; if you want to be mobile within a few years, then you'd probably be better off at a top banking group where the recruiting process is well-defined and there is a natural exit after 2 yrs.

So basically, think about it in practical terms and ignore the "prestige" of going to PE right out of undergrad. If you want options and aren't sure you want to do upper-MM PE in Los Angeles, then you'd easily take a top banking group in NYC over LGP. On the other hand, if this really is your dream job, then why not go directly to doing what you like?

Not really. Seeing as MF PE analyst programs still occasionally lose kids to top banks/groups, I don't see why LGP would be any different.

Mostly qualitative. Runs through some basic LBO questions (ie. if entry multiple is a and exit multiple is b, ebitda growth is x%, capex is c per year, what's the MOIC). Very similar to banking.

LGP just recently had a recruiting mixer with ~50 1st years..... better get ready.

They are pretty early last year as well....

any more recent info on them? should i expect them to do recruitment again this upcoming January/February? any insight appreciated on timing or interview process.