Evercore Private Funds Group (PFG)?
Anyone have any info on this group? comp, exits, prestige? The group doesn't seem to be traditional IB, and I'd like to be able to assess it objectively from its name brand..... was contacted for an info call by a recruiter at EVR
Could we pm? I've been networking with a pfg group at another bank. thanks!
We’re you on the sales or project management/origination side? I’ve heard that latter tends to be a bit more technical.
Yikes, so it's BO? Wow.
It’s still front office. It’s still technically a client-facing function.
I get that it’s not IB but fundraising is certainly not a back office job
Not entirely accurate depending on which side of the group. I’ve heard half is the boring stuff you mention (fundraising work) the other half is structured secondaries which is more akin to traditional banking.
Back office implies a non client facing/non revenue generating role, neither of which is true for this group.
No bone to pick just trying to clarify
I'd like to push back on this as I am at a BB and the functions vary based on the groups mandate. Evercore business is bifurcated into the private funds group(which is the investor relations/fundraising arm) and the secondary transactions(PE GP/Investor stake spins offs)
At my BB, those functions are grouped together and as a result it is more of a IB style role as all analyst need their 7,63 and 79. Base salaries are the same as IB($85 an1/ $90k an2) bonus will be based on the desk fundraising efforts(make money based amount raised), secondary transactions generate fees.
Hours: Fundraising(45-60) / Secondary(IB hours )
I wouldn't create the picture that this isn't as mind numbing as IB because IMO both teams are doing mindless work just one is way more quantitative versus one is more marketing heavy. All based on what you like to do.
I would also add that I've seen exit opps into PE investor relations roles which for the right person is still pretty lucrative ($200k-$300k+ as associates with upper levels potentially getting carry)
https://www.heidrick.com/Knowledge-Center/Publication/2020_NA_Alternati…
If your dead set on IB not sure how easy it would be to lateral internally or externally after 2 years so I would agree on not taking it if offered as your often pegged as a IR/Biz Dev person unless you can get into Evercore's secondary team
I don't know in what world an IR associate these days get $200-300k plus carry. Sounds completely wrong.
First hand experience can say that all private funds work is pretty monotonous and very process/menial task oriented, including secondary transactions.
I know this is an old post but wanted to comment on this so people are given a truer picture of the sector. Im an Analyst at a private market fundraising group and have a close friend in the equivalent group at Evercore. Absolutely agree the work is boring, but in my opinion sitting in front of a spreadsheet all day as an M&A Analyst etc is just as boring. Really I would put it down to what do you prefer, quantitative or qualitative work? That’s the real difference between private market fundraising and traditional IB. Also, saying it’s back office is just silly, private market fundraising is about as front office as it gets in terms of client facing positions. You’ll constantly be talking to fund managers as well as institutional investors on the other side of the business, so really it’s a double-sided client pool. In terms of pay you’re also way off. Bare in mind this is in the UK so you’ll have to make a comparison yourself if you’re wanting US numbers, you can expect £30-40k first year bonus if you’re at a good shop such as Evercore. Which as far as I’m aware is more than first years are getting at most BB’s doing traditional IB. Also, if you get into the distribution and sales side of things, you can earn serious money quite early into your career. E.g. there was a VP who had a good year and closed a significant amount of capital from his client book, who ended up getting paid more than most MD’s in other teams.
can I PM you?
Can I pm you?
I thought this comment was bs when I was considering a PFG offer but genuinely wish I listened to this advice. 100% spot on.
Deleted
Can I PM you??
also interested interviewing for a lateral secondaries advisory position at an EB, currently at a sector specific M&A boutique
So should I nix on the opportunity? My goal is IB....
Probably. From what I heard the exit oops for PFG are slim even if it is from evercore. Would be better off landing on a good group for solid MM bank for exit opps.
If you’re looking at Evercore capital markets, I’d recommend Debt Advisory, ECM, or Private Placements, theyre all pretty respected at the firm for capital markets, especially Debt Advisory which works hand in hand with RX. Haven’t heard much about Private Funds or Private Capital though.
whats your opinion on Private Placements?
how does this group compare to private capital advisory group?
In terms of interview, what will they be asking you?
bump
will technicals be similar to IB interviews?
Opinions on Private Placements?
What are the exit opps out of private funds? can you lateral into IB?
Did you hear back after recruiter call? Interested in hearing about the interview process
After the initial call, you have a phone interview, case study, and then superday
Did you get an offer?
What was the initial phone call about? Just received an invitation to interview & don't really know if the interview process is more behavioral or technial
Hey - any detail on the contents of the case study?
Bump
bump
Can someone explain better exactly what this group does and why someone would take it over traditional IB? I have a first-round coming up and do not know much about it
It's essentially fundraising so if you want to go into IR, it would be great gig.
I have same question about this. Comparing this role to MM traditional IB role, which one is better? Do you take the role eventually? Thanks, you can PM me
As people have said above, it’s basically fundraising/investor relations. You will likely not easily be able to transition into IB down the line or working on acquisitions in PE. I would take the MM IB over this, assuming you’re actually interested in banking. I took a job in M&A for a boutique over PFG.
Does anyone know what they usually ask in the first-round interview? Anything technical or just behavioral? THANKS!
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