Making the most out of a search fund internship
I have an offer for a search fund internship for the coming summer (highschool senior), and I've been asked what I want exposure to besides sourcing during the internship (e.g: building out financial models for x number of companies, sitting in on owner calls, valuations, etc).
It's relatively small and I believe I'll be the only intern, and while I'm interested in the investment vehicle and potentially doing something with it one day at the moment my immediate goal is to recruit for IB out of undergrad. Given that, what should I be looking to get exposure to this summer?
Literally anything & everything you should try getting exposure in. I did one freshmen summer and I'd say most important in order are: Modeling/Valuation (all types from OpModel to LBO), Being on as many calls as possible (Due dilligence, meeting the founders/owners, etc.), then sourcing.
To put it simply, Everyone with a search fund internship does sourcing but not everyone gets to model & join important calls. Look to gain interesting stories as those will likely contribute to your overall "pitch" when you are recruiting for IB. Hope this helps.
It does help a lot thank you so much, I mentioned during one of our calls that I wanted to get to do modelling and valuation + sitting in on calls but he asked me to try to be a bit more granular—do you think I should specify what kinds of models I'd like to do or just "as many as possible"? Again, thanks a lot.
Depends what types of models your firm does + what is your current knowledge right now? If your unexperiences, then start with OpModels then ask for more on your plate down the line. Try to get on as many calls as possible too
I don’t really have any experience right now beyond going through the BIWS accounting, valuation multiples, and dcf guides. I think the firm also does DCFs, and I’m not too sure what else but I could ask. In this case, do you think it’s best for me to just ask to start with OpModels and as many calls as I can? Thank you so much, I don’t really have anybody to ask for advice.
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