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My unconventional path into finance NEED ADVICE
I grew up in a small beach town in Southern California. Going to school was not the priority as I grew up surfing and spending most my days training thinking I was going to be a professional athlete. After a string of injuries, I had realized that this was not going to be the career I once thought...
LMM 60-min modeling test
I have final round interviews coming up with a LMM fund, and I need to brush up on my LBO modeling skills. Does anyone have 60-75 min modeling tests they could send my way? Happy to provide a fintech, strategic finance case study in return.
Private Equity | Head Hunters | Parabolic
Hey guys, I am a rising senior studying Economics. I am interested in private equity but do not have prior banking experience. I am an operations analyst at an upper mid-market private equity firm. I recently came across Parabolic, a head-hunting agency, on Handshake. As soon as they saw my resume,...
What happens during an acquisition?
Please pardon this very elementary question. What exactly happens during an acquisition? (By a PE firm) Does the target company's equity investors get cash? What about when the firm is resold? These are all just random guess-questions. As you can tell, I generally have no clue about what happens and...
Advice
I am currently working at a special sits fund as an analyst. I am considering moving to a top RX shop (PJT, Evercore, HL, LZ, Moelis, PWP), but am a bit conflicted. On the one hand, I work on something that is somewhat niche for most of my time and I feel as if working on for another year will not...
Growth Equity
Seeking some clarity on growth equity and the vast landscape of funds out there. As far as I can tell, the are at least two distinct kinds of funds: (1) The late-stage VC-style fund, which does Series C and later in venture-backed startups (i.e. IVP, CapitalG, SoftBank, Sequoia/a16z/Accel growth...
Who Should I Be Networking With to Make My Life Easier ?
As someone breaking into the PE/GE space, what are the most useful connections to have? In terms of deal origination, fundraising, and selling, who should I go out of my way to connect with? For example, should I know someone at every top BB and EB bank, or is that overkill? Should I work on...
ADVICE SMALL PE VS DCM BB vs EB
Hello I have received two offers: 1) Small/LMM PE shop with 500M AUM 2) DCM BB. in addition, I am in the last stage of the interview process with an Elite Boutique firm for a generalist role (M&A and Rx) My end goal is the buyside (PE or HF). Could you please advice and compare: 1) Small PE...
Investment Corporation of Dubai
Hey all, As the title suggests, looking for some insight regarding the Investment Corporation of Dubai, especially around team dynamics, deal activity, progression, comp, work hours, and what it's like to work in Dubai as a non-citizen (for reference, I'm from the APAC region). ADIA, QIA, and...
comp survey?
Did anyone else get this survey/do it? I heard they're publishing it, might be interesting to the what's good in the market. https://forms.gle/fBXzQB8GHFLNmW297
KKR '23 London Intern
Going to keep this simple + can't find any information online so I'm asking here. Does KKR hire in London for Summer Interns in PE/RE and (when) should I expect applications to open?
Interested in Connecting w/ Debt Investors who invest in Asia Emerging Markets
Simple post here. Serving as an exclusive advisor to a prominent family in Asia Emerging Markets who are looking for debt investors for their infrastructure project (North of $100M). Realized that there are many family offices and credit investors that focus in this geography. Happy to share...
Inflexion Private Equity
Monkeys, I have an upcoming first round interviews with Inflexion next week. I haven't seen a thread covering them yet, so thought it would be good to create one. Anyone has gone through the process yet and would care to shed some light?
Book: "Venture Capital, Private Equity, and the Financing of Entrepreneurship" by Josh Lerner, Felda Hardymon, and Ann Leamon
Hello all, I am trying to find the following book in PDF: Title: Venture Capital, Private Equity, and the Financing of Entrepreneurship Authors: Josh Lerner, Felda Hardymon, and Ann Leamon Please share where I can download it or share it if you have it. Thanks all!
GP capital advisory - M&A
Hi everyone, I would be interested if someone could shed light on GP capital advisory (not the secondaries advisory nor Fund placement) in companies like Campbell Lutyens. I would be primarily interested in their M&A teams dealing within the alternative asset manager market as well as Minority GP...
Comp survey?
Did anyone else get this survey/do it? I heard they're publishing it, might be interesting to the what's good in the market. https://forms.gle/fBXzQB8GHFLNmW297
Lifestyle
Diving into one of the more contentious topics on this site - lifestyle and hours. We spend so much time hearing about the misery of 80-100 hour weeks as an analyst, which doesn't improve at all if you head into MF/UMM PE. So, assuming you're an IB analyst looking at your next move, what do you do?...
Secondary PE Analyst after 2 years of 3 separate IB/PE internships post-undergrad
First post here. I've been a reader for a while, never contributed. Figured I owe it to at least pass on something personally relevant, hopefully applicable to at least one of you out there. Also cognizant this might get flamed by the community for whatever reason but hey, I figure it's honest and...
The *Long-Term* Interest Rate Projection Discussion Board/Echo-Chamber
Hey All - Obviously the market gives us a detailed picture of where they think rates are headed daily via the yield curves, fixed/floating swap rates, and etc.... But I wanted to get the groups thoughts/projections looking PAST this rapid run-up of rates to combat inflation, and start a bit of...
TAM vs. whitespace opportunity?
hi guys - what exactly is the difference here? is whitespace a subset of TAM? so if TAM is $1B, whitespace might be $100M that's actually serviceable to a Company? from what i understaND, TAM is the total revenue opportunity assuming 100% market share. so is whitespace the portion of that pie that...
Growth Equity
Looking for some clarification on growth equity firms, specifically regarding the stages they invest at and the level of operational involvement they have. Can someone clarify the distinction between the types of firms that function more as "late-stage VC" type funds, with large investments in...
Partners Group 2023 FA Program
I wanted to start a post about the Partners Group 2023 Financial Analyst Program. Did anybody else apply to this and has anyone heard back? I checked with my friend who is in the program last week and was told that they did not hear anything yet. I saw last year's post and someone said that they got...
PE Analyst Comp
Hi All, I was just wondering if anyone knows what a PE Analyst's compensation looks like, particularly in Canada. I saw that Brookfield takes on analysts sometimes in their Toronto office and was wondering if anyone has insight into what their numbers look like. Thank you
Non-PE 1st Year Analyst Comps at Top Megafunds (Carlyle/Blackstone/KKR etc.)
Hey everyone, I'm joining a non-PE group within a top megafund (Carlyle/Blackstone//KKR/Apollo etc.) as a summer analyst next year and am wondering if anyone has any insights as far as what I can expect for total comp (base + bonus) for a 1st year analyst. Appreciate any input!
Blackrock Private Credit Comp
I have an interview for a Blackrock private credit investment associate role coming up, does anyone know salary expectations here? I assumed somewhere in the ~225k-250k all in range.
Direct Lending / Private Credit Comp
Looking to gauge the market on overall private credit comp these days given salary increases over the last year or so. I'm a first year Investment Associate at a middle market private credit shop, looking at 175-200k all in, but would be curious what others are seeing. Would love to hear some data...
What is your favorite example of a controversial PE/activist deal that worked?
This could be forcing austerity on a city/country over an infrastructure investment, a corporate raider acquiring a massive company then ripping it apart to sell off the pieces while laying off thousands of workers with no warning, or a fund acquiring what is essentially a monopoly on some niche...
How to get better at paper LBOs under pressure?
Currently recruiting for PE and just cannot figure this out. I'm on my 3rd firm and just seem to crack under the pressure when the paper questions get asked.I have good modeling experience on the LBO side coming from a sponsor heavy banking stint & generally do well on "take-home" cases. I know it's...
I Want To Sell/License An Idea to Apollo
Good day, I have an idea that I want to sell or license to one of Apollo’s subsidiaries, but I don’t have the funds for a patent and the tech is beyond my knowledge. There currently exist several companies and technologies that could help myself and/or Apollo achieve said idea. I’m looking for...
Future Career -- Suggestions Needed
I am currently doing my master's degree in economics and I am graduating in June 2023. Undergraduate: University of Toronto (Canada, Cgpa was not ideal) Double major: Economics & CCIT Postgraduate: Fudan University (China, Current Cgpa: 3.4) Economics 3.5 years in the fitness industry in Canada. I...
Negotiating start date as lateral hire?
Hey guys - I'm currently wrapping up my second year as a PE associate and lateraling to a similar fund. Obviously, I want as much time off between jobs as possible and the new firm wants me to start ASAP. I negotiated a start date in the third week of September basically saying my current program...
Novacap SA 2023
Novacap SA 2023 applications recently came out on my school portal (UofT). Just thought I'd create a thread so people can share their updates. I know they have a TMT, Industrial, and Financial Services group. Also, does anyone have any insight on culture and comp at this place - glassdoor is all...
Post-MBA IB Associate to MM PE
Thinking about trying to make a move to MM PE in a "Tier 2" city and would like to understand feasibility as well as starting level of seniority and comp I might expect given I'm currently a post-MBA IB associate at top-tier EB in NYC (~ 2 years experience). Would I have a chance of coming in...
Cantor Fitzgerald IB or BBH PE (SA 2023)
Question is in the title. I've been incredible fortunate to have received two offers (Cantor Fitzgerald IB in NYC Healthcare and Brown Brothers Harriman in their PE arm). I was wondering what people believe to be the better choice. For context, BBH comp is slightly higher for SA and the MD...
Growth Equity Analyst Salary Range?
What should a growth equity analyst expect to make out of UG? Is there much of a difference between firms? Tell me: Base Range Signing Bonus? Bonus Little insight on this topic on this forum, no transparency how much an analyst should be shooting for / if they are getting underpaid. Also, if you are...
MBB or IR PE
Hello everyone, I just finished my undergraduate. I have a management consulting offer as an analyst for an MBB and another Investor Relations Analyst offer in a Private Equity fund. My goal is to work in Private Equity in investments. I like both offers and am unsure which decision to make. I have...
M7 Chances?
Hello all, I'm a college senior considering a 2+2 M7 program but also open to applying after my analyst stint. Looking for a profile review and any advice or constructive criticism is welcome and appreciated! Academic Profile: Semi-target in the northeast Finance and economics major 3.6 GPA 730 GMAT...
Looking for opportunities to jump into PE / PC in the US from London
Hi everyone, I am a student in Europe and will join as an investment analyst of PE/PC in London (think BX/KKR/WB/GS/Carlyle/CVC/Bain in terms of AuM and brand name). From a tier 1-1.5 school in Europe (probably no name in the US but we have awesome exchange/double degree programs with Harvard, MIT,...
Leaving after one year
Hi, I have an offer for a great PE opportunity starting this summer. I'm a first year analyst and ideally will leave my firm after my bonus is paid out later this summer. I like my group, but the new job is an opportunity I don't wanna miss. I don't want to be an asshole and don't want to burn any...
Tips for New Grad breaking into Private Wealth Management
Dear WSO friends, I have a sales and trading internship( rotate in FICC structured credit trading and AM sales) lined up for the summer in HK. In my resume, I worked for a family foundation to build their network with GPs and LPs as well as two previous sales internships in investment banks. I feel...
Starting a Career in HF vs. PE
Hi All, Finishing my masters in finance next month and I have a few options for starting a career in either HF or PE. Would greatly appreciate any advice or insights. I really enjoy analytical work and telling a story with a compelling narrative. I really like my VC internship but it seems...
UMM PE ops role interview format + prep
I am currently at an MBB and have an upcoming interview for a PE ops role at an UMM fund. It is the internal consulting arm that drives operational improvements like cost reductions/optimizations and revenue growth across the PortCos. The team is entirely prior consultants. The recruiter mentioned...
Modelling Case Studies - Working through the material
Hey all, Recently completed a DCF case study for an interview, where they provided 5-6 equity research reports on a company, along with historical financials, and asked me to build a model and do up slides explaining if it's a yes/no on investing. I realise it's a pretty standard test, but it was my...
PE / VC Recruiter Database for US and EMEA
I've pulled together a long list of all private equity, growth and VC recruiters for both US and EMEA / London. Where possible, I've also included their specialties (e.g., tech, infra, distressed) and seniority focus (pre-MBA, post-MBA, mid-level etc.). Please share the links with others and let me...
MM PE SA 2023 Concerns
So I accepted a SA position (2023) for a MM PE firm (around 2-4 billion AUM) pretty early on. Culture seems great and I would get a lot of deal exposure. However, I'm starting to second-guess my decision because it seems as though starting off at a MM PE firm (assuming I get the FT offer) may yield...
BB Tier 2 FT vs. Tier 1 SA vs. CO
Hi everyone, new to the website and would want to get a bit of career advice from the monkey tribe. I have talked to a lot of people, and the "best" advice always seems to come along the lines of "do what's best for you, you have so much time, rankings are for insecurities, nothing really matters,...
Thoughts on Vista Equity Partners for PE Associate role?
Looking for advice on culture, how it compares to other mega funds in terms of comp (longer term not necessarily just at Associate level), culture, brand recognition / prestige, exit opps to hedge funds (not Analyst level but at Associate and above levels), and MBA placement. Assume that location...
How long does it take to hear back after case study assessment
Last week I went in for my final round and in-person case study. That was done, They said they would get back to me the same week or the following week. On average how long does it usually take?
Power point Case study advice
Hello all! I really need some advice. I have a powerpoint response to a case study due on Friday. However, what is confusing to me is that the information on the prompt is all from June 2021. Am I supposed to behave as if we are still around this time period or, should I use more modern information....
IRR Approximation for Multiple Years Sell Down
Hi Monkeys, I am struggling with the below question (to be done on paper) and thought I could lend some help with this community. My question specifically is how do you approximate a IRR with multiple period cashflows? How would you go about solving this? "A PE firm acquires a $150 EBITDA company...
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