PE Recruiting from MM Bank
Hello All,
I am very unfamiliar with how this process works so please bear with me. From my understanding, headhunters reach out to first year IB analysts to help them obtain PE interviews. I am joining a NYC LMM bank next summer (Stifel, Lincoln, CG, HL etc.) in the M&A group where I know deal flow is strong. However , I am concerned headhunters will not reach out as it is not a big name bank.
How do a approach NYC PE recruiting if I have deals under my belt but no brand name? Do I need to apply directly? Reach out to headhunters myself? Any info on this or timelines would be greatly appreciated! Also I am very interested in MM PE not just UMMPE/MF if that helps.
Plenty of headhunters will still reach out to you almost from day 1. The main difference will be the PEGs they are putting you in front of. I.e., you will be getting looks from LMM groups vs. MF or upper MM. Sounds like you have plenty of time, but make sure you prep before doing calls with the headhunters since that is essentially an interview for them to determine how qualified you are and whether you are worth their time and effort.
Make sure you ask around about reputations of the different HHs that reach out. You'll get spammed from a bunch, so make sure you are selectively using ones that will treat you well and get you the best opportunities for what you are looking for.
Nice job thinking ahead, but you have plenty of time before you need to worry about this stuff - enjoy your senior year while it lasts.
Does the same hold true for banks one tier under the ones OP mentioned? Gonna be bank at somewhere between MM / regional boutique
I would imagine yes. Many HHs are in the business of casting a wide net and will go after as many email lists as possible. You just need to be realistic about what you are trying to do. If you are in MN at a regional bank and telling HHs you want to do NYC MF or MM PE, they won't give you the time of day. Midwest LMM PE on the other hand would make more sense.
Assuming you are at a decent LMM shop, you will have solid deal experience, so focus on being able to speak intelligently about each deal and your involvement in them. LMM funds typically place a greater emphasis on "likeability" as well since it'll be an office of <10 people.
LOL you’re wilding putting HL with this list. Regardless, you’ll get enough looks from LMM and a few MM funds.
Yea I’m not sure I would put HL in the same bracket as those others in terms of exits. Even when we’re talking non-RX.
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