Currently in IB at Citi (niche group) and am curious about trying to recruit for PCA full time. Any insight on the process or what the technical q’s are like for EBs,and how it differs from traditional IB interviews (esp in terms of technicality). Thanks.
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Fundraising / project management.
Building out the fund docs - pres, marketing materials
Could also cover secondaries which is a different beast
Have a few PCA memos / docs; feel free to pm
Primaries is not very technical its fundraising and project management
Secondaries is very technical and GP-leds can get hairy - they are inherently conflicted transactions
When you say technical, what does that look like in the work? Is it deeply technical work or just conceptually complex?
Both, these are usually "passive" investors who will solve for risk through structure and price. They're bids when structured (like from an Elliott or Renwave Kore) will be a pain to model out. Also proposing terms requires the same level of detailed returns analysis.
this is adding on to the layer of you actually need to be able to market and sell the company as well whether or not your industry bankers are on the call.
Thank you for this. In terms of the experience for a junior in a GP-led group, how does the technical and modeling experience differ from M&A as a junior? Of course they’ll be different, but would you say you are still doing similar amounts of technical work?
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For PCA i'd highly recommend you check out this e b interviews site. they have a few pca interviews in the database which are really good. a lot of interview questions are written using that database too
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