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What I preach is not what I do
Hi everyone, I am looking to make a career change and want your advice. At 29, I consider myself a competitive person with average level of intelligence which I tend to compensate for through hard work and discipline. I am living in London, married with one child under the age of two. I graduated a...
Career path change from growth equity
Hello all! I’m writing to you to have your views on my situation. Thanks in advance to those taking the time to answer, and I hope this thread will help other people in a similar situation. I come from a top tier target school and am currently at a junior position at a growth equity fund...
(London) Drop recent strong exits(e.g. MFPE/MFPC) from your bank + avg analyst class headcount. Merry Christmas!
Merry Christmas All, Currently drafting a 2024 London ranking based on exits(cringe I know but its always useful for guidance for future interns and analysts + I may have a slight case of the tism and enjoy categorisations). Went A2A this year at a us bb and must say quite alot has changed in the...
Breaking into PE from Target School
I am an incoming freshman at an undergrad target school: Harvard/Princeton/Wharton/Yale/Columbia/Stern/Etc What is the best course of action to break into Private Equity right now. I have an internship this summer in finance at an investment fund (and if I want can intern there in college as well)....
Insights into Actis Compensation and Work-Life Balance
Hello everyone, I'm currently exploring opportunities in the private equity space and I'm particularly interested in Actis. I was hoping to get some insights from this knowledgeable community regarding a few key aspects of working at Actis: Compensation Structure : What is the typical compensation...
LBO candidates
Hi fellas ! what is a great LBO candidates in terms of financial performance and also the market that they operate in. And the same question but this time more specifically for a PE that invest in IT, Healthcare and Bakery industries. Thank you !
MSF or Recruit for FT?
Hello all, Going to keep it short. 25 years old, graduated in 2021 with a 3.15 GPA from a semi-target (unfocused, did not value the opportunity, medical issues etc.). Interned at a boutique M&A shop for about a year. In parallel, searched for FT roles but no luck. An opportunity fell into my lap to...
My fund shut down. What's now?
Hi guys, Long time user on this forum and right now I am an Associate in a private equity fund managing some portfolio (~$2bn AUM) and latest news is the fund is shutting down due to disputes within partners and the anchor individual who we were managing the companies on behalf of. Needless to say,...
Ardian & Secondaries
Hello everyone, Quick question about Ardian, what are your thoughts on the company? What do you think of their secondaries/primaries team? Is secondaries a good place to be? Looking at the backgrounds of most Ardian people, I don't see the profiles I see at a Blackstone for example, they dont come...
Feedback - Transition from PE to Hedge Fund
Hi Everyone - Apart from dealing with processes at a PE fund and a work life balance what were some of the reasons you decided to move from a PE shop to a HF? In terms of comp., would you say that they both balance out eventually, however there is very limited space at the top of PE firms? In my...
Blackstone's Taylor Swift themed Christmas video......thoughts?
In case you live under a rock:
Pitchbook/marketing material
Keen to get a better understanding of the use of short pitch books in PE and their common structure I am currently interviewing for an IR Associate position for a PE house, and I have been told I will need to prepare a short pitch book (3/5 slides) on one of their strategies. What is a short pitch...
London PE - Notice Periods
Hi all, What notice period are you all on in London PE? Been moved to 6 months - feels high for the IM level? Assume that'd make any lateral move more difficult.. Thanks
NYC Financial Services Job Search Advice / Direction
Hey WSO Readers - I've been a lurker for some time now and have always found value in the responses to posts so figured I would try it out myself. I'm seeking career advice as I recently stepped away from an Expert Network in NYC after 2.5 years helping grow it to be a competitor of the big dogs...
Small Business Private Equity
Hello all, After a few years on Wall Street, I have come realize a few things: 1) The money is not there the way it use to be 2) The fun and socializing is not there either (sounds silly but post-covid it's dramatically different) 3) With AI, the industry will most likely see even more downsizing...
Private Credit comp info
Hey guys, There's genuinely not much info about private credit comp for analyst levels in London and Continental Europe. Need numbers for firms like Muzinich/Tikehau/Eurazeo etc. info seems to be conflicting. Thanks for all the help!
Should I Buy a PC to Practice Modeling?
Hi all, I'm an incoming full-time investment banking analyst in NYC at an EB and intend on participating in on-cycle PE recruiting next fall. I had a great time interning this summer and enjoyed the work laptop provided to us because it finally allowed me to get used to working on a PC (I'm a...
PE Seniors: How do you guys manage WLB in the long term, whats the path to long term success/avoiding burnout in PE?
Before anyone points out that there are many such threads on the forum, yes there are and I have used the search function and gone through those and I still have a couple of qustions and a couple of observations. I'm trying to get the opinion of senior guys here so ideally VP and above. Not to say...
London PE Consumer focused Off cycle opportunities, networking etc.
I will be traveling to the United Kingdom next year to complete my studies and would like to use this time to explore off-cycle internships. I had previously completed various finance internships, but I recently recognized that my area of interest is mainly centered on the retail/consumer/luxury...
Move from Search Fund to Investment Banking?
I have just got an offer for a very small search fund as an analyst. Would working at very small search fund provide valuable experience I can leverage to get into investment banking. It only started 2 years ago and they have only done one deal so far. I studied Finance from a non-target and just...
Apax SA 2024 London
Anyone hear back re next steps in the process? Heard from VP they are in the final stages of shortlisting...
Seeking WSO Community Guidance re Upcoming Background Check Exposure for New Job
Dear WSO Community - Would appreciate people's thoughts as I navigate a tricky situation. Not looking for legal advice and am definitely doing my own work there. My hope is that people can share first or second hand experiences to help inform my situation and that if anyone finds themselves in a...
PE second round Interview - Internship
Hello everyone, so after my first round, the partner told me what to expect for the second/ final round It will a be whole day in their office, and the first phase will be analysing a random Investment memo and discuss it with the partners, second step is to build an LBO model from scratch which I'm...
Finance and The End of History / The Alchemy of Boomer Magic
First things first, which summarizes this blog: "Past performance is no guarantee of future results" Many of you have found yourselves on this forum seeking for advice to break into the world's most lucrative industry. You see before you past generations of billionaires and centimillionaires created...
Being recruited to PE from Corporate America
Greetings all - I'm being recruited from a C-level role in corporate America to be a managing director on the operating side of things for a PE firm. This firm has +$20B under management with a great track record of returns. The work sounds interesting to me but I'm sightly worried about the risk of...
PE internship Interview
Hi everyone, I have an 30min interview with a private equity firm in Belgium, and they called the interview "an Introduction" and it will be via teams, what should I expect ? thanks in advance !
Sophomore Seeking Internship Advice. Should I take this if it's unpaid
Hi guys, I'm currently a sophomore (diversity) at a semi-target uni (think IU Kelly, UNC, UT, etc.), majoring in finance. I have two (remote and unpaid) internships on my resume—one in PE and one in IB. My GPA is well above average, and my extracurriculars are also solid. I recently received an...
Why do PE firms charge monitoring fees just to offset them?
Hey all, I was reading a bit about how private equity firms make money and came across monitoring fees and offsets for LPs. I think I understand why offsets exist and that without offsets, LPs are effectively double-charged. But I don't understand why GPs bother with monitoring fees if they're...
Best city in the world for PE outside the US
Hi, We all know that New York is the largest financial capital in the world. This is where you can earn the most. And the US is the land of Opportunities. However, taking into account factors such as total comp (and carry) adjusted for cost of living, and WLB, what is the second best city to work in...
London vs Zurich vs Frankfurt
Hi, Which of the above cities is the best for working in PE? For example, which of them offers the best total comp (and carry) at specific career stages (especially VP/Principal/Partner). What are the differences in the work-life balance?
Tikehau Capital - London info?
Hey guys, any insights on Tikehau's Private Equity and Credit teams in London? Culture, reputation, comp , work-life balance...? Not much clear info on WSO about them. Heard they pay badly, but can anyone confirm the rest?
Not getting more matches despite working at a top PE firm
Hello all, I changed my job status to "Private Equity Associate" at The Carlyle Group on Tinder, Hinge and Bumble three months ago but for some reason I am not getting more matches compared to when I was in banking or at uni. On average, I got between 5 and 7 matches every week (across the three...
Does this strategy have a specific name ?
Hello guys, my question may be dumb for some of you but here I go, A growth equity fund that I know is raising a new fund with a new strategy but I cant find any other fund that have this approach. Basically, they will buy companies, that have been struggling to get above 20/30% growth yoy, and will...
Best affordable undergrad target-schools in Europe
Hi, I will be graduating from high school next year (one of the best high schools in my country, with a GPA in the top 5%). I have always dreamed of pursuing an IB -> PE career (especially in London, but I don't mind Frankfurt and Zurich as I am learning German, currently B2). However, my parents...
Evercore vs Lazard
Hey y'all I am new posting on here but was just curious of what people's takes might be: If you guys had offers from both Evercore and Lazard (same group), what would you pick and what are your takes in terms of Compensation (Signing Bonus, Salary, EOY Bonus), exit opportunities into Buy-Side...
Best Reads for PE
You know how when people prepare for restructuring they read Moyers and the HL RX case. What is the equivalent of this for private equity? Are there any core readings that help you really understand the industry at a deep level?
Seeking guidance for masters programs - Profile evaluation
Hello, I am turning to you for advice and insights regarding my search for an "elite" master programme. My goal is to pursue a career in M&A and possibly move into private equity. Below are my credentials and aspirations: Academic Excellence : I have a strong academic record with a GPA of 3.9/4.0,...
Oncycle Recruiting Looks Possible for Canadian Bankers?
Incoming first year analyst trying to learn more about PE recruiting. I know its already extremely competitive for junior bankers based in the US to get looks on oncycle, and my question isn't necessarily for MF oncycle recruiting but was wondering how possible it is to get oncycle looks if based in...
UBS London Best Teams for Exits
Looking for some guidance. Aware of previous discussions but none reflect effect of UBS-CS integration and current 2023 market. 1) What teams at UBS London get looks from UMM headhunters? Eg M&A, TMT, GIG, LevFin etc 2) Is it 2 year analyst to associate due to Credit Suisse integration? 3) Is it...
Is this the Black-Scholes of Private Equity?
Hey fellas, a couple of the guys in my city's networking groupchat (it'd be generous to describe these oafs as friends) started a Youtube channel and apparently they're able to solve for levered return really fast. They shared their first video in the gc earlier this evening. (This is their video...
Straight to PE vs doing 1-2 years of IB First
Looking to hear thoughts on the topic from people who took either route. Long story short, I know I want to do Buyout PE (and have interviews for a few full time roles). However, I am thinking it would maybe be better to stick with my full time EB offer for a year or two, go through the analyst...
Explanation of Advanced Private Equity Deal Mechanics and Ratios
Want to break into a UMM/MF buyside seat after graduation, got contacted re processes with some funds running analyst programs through HHs, background ivy, MF PE and EB RX internship experience in NY. Wanted to gather some thoughts and explanations on advanced private equity deal mechanics and...
What is the difference between Sam Bankman Fried's "FTX" and any other bulge bracket bank?
Why was Sam Bankman Fried's company "FTX" relocation of customer funds to separate financial ventures considered illegal but when the big bulge bracket banks do it, its legal? The big bulge bracket banks like Chase use money from customer deposits/savings to lend out in the form of Mortgages and...
How Hard is it to Hold Onto Your PE Seat?
Obviously this is a function of rates/the current market, but seems to me that lately a lot of associate level folks in PE on this site are posting about being forced out / feeling anxious about not having a PE seat for much longer. It's a given that MF funds tend to have 2&out programs, but for...
Co-investment Case Study
Hello, I am working on a co-investment case study (it is almost an LBO model test from my perspective): That target company is a fictitious public company. The sources and uses are quite straightforward to compute, although I am not sure whether to use Total Equity Value or Total Enterprise Value in...
How underpaid is this in PE?
A friend at a LMM PE firm was offered $100k base + $50k bonus as a 2nd year associate. This seems well below market right even for a sub 300M fund?
Need a Change of Pace... Flat Hierarchy Firms
I can't deal with this hierarchical bull anymore. I am at MF doing tech PE right now, but I hate the bureaucratic nature that comes with it – I feel stifled. What are some places where I can continue being an investor that has very flat hierarchies? Any specific firms or broader categories of...
Syndicates/Investing into PE firm as an LP
Would anyone be willing to chat about their experience investing/setting up a syndicate? I have an oportunity to invest into a strong PE fund's next vintage and looking to learn more about people's experiences with syndicates
Syndicates/Investing into PE firm as an LP
Would anyone be willing to chat about their experience investing/setting up a syndicate? I have an oportunity to invest into a strong PE fund's next vintage and looking to learn more about people's experiences with syndicates
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