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April 30, 2024
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FYI Vault guide is terrible.
I'd offer to give a run-down of my day, but there's definitely another post where this has been discussed. Either GameTheory or numi did a pretty extensive overview if I remember correctly.
We definitely broke this down in the past and I will dumb it down...
This is what I did yesterday (pretty demonstrative of what I have been doing for the past few years)
Arrived 830-9 Having read front page and C section of WSJ and listened to Bloomberg
9 - 11 Spent updating an operating model in accordance with newly revised management projections of one of our portfolio companies. We are preparing the company for a merger so we are modeling various scenarios/consequences.
Reviewed multiple CA/teaser packages from our bankers at various BB/MM banks. The teaser is a one page summary of the investment (sometimes the actual company is not disclosed i.e "Project Stone") along with high-level historical financials and projections. I generally negotiate the terms of the CA and have my MD sign-off. In a few days we will receive the OM or CIM (Offering Materials) and begin delving through and deciding whether or not we wish to put forth a preliminary indication of interest for Round 1.
I am constantly on the phone with our fund investors discussing the current state of their principal investments and in the current environment they are generally demanding their money back ASAP.
We are also in the process of fund raising so we have been drafting memos and compiling information for an offering deck. We generally work alongside our bankers and collaborate on a final version.
We just closed a rather large deal so we have been digesting the acquisition so I have been spending a siginificant portion of my time communicating with management and working on implementing our 100 day plan (provided by our consultants).
I generally hit the gym around 730-8 depending on where we are in the various deal cycles. During closing time I practically live in the office but other times I am out by 6:30 hanging with friends.
I wouldnt describe my group as typical but I think the aforementioned activities are pretty comparable to industry standards although hours are significantly longer at many places.
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