Search Fund Internship Valuable for IB?
All,
I just finished a summer internship in Corporate Buy-Side M&A, assisting with analyzing CIMs and creating basic one-pager summaries on the opportunities provided by Investment Bankers and also helping to identify some acquisition targets. Keep in mind that there was no financial modeling involved unfortunately.
Now, I am going into my sophomore year, and was recently offered an unpaid internship with a PE search fund. I went in to speak with the guy and he's very laid back, but unfortunately the work I'll be doing amounts to nothing IMO. Just basic identifying targets and some industry research. Should I accept this offer/and will it even help me or should I pursue opportunities elsewhere?
Thanks in advance.
Sourcing deals (identifying targets) is the most important aspect of high-finance - this is what partners do at PE funds. If you actually source something and the deal goes through, your resume will shine (IMO). Whether you want to take it or not is up to you and how interested you actually are.
@A Smith' Thanks for the feedback, that's what I've been thinking, just didn't think that sourcing deals was that significant since i've been worrying about on-the-job modeling experience.
If it's during the semester, do it. It's not worth taking up your summer. I've been interning with one for 4 months now, mainly because I could work from home while I did another internship 40+ hours during the summer. I've put in countless hours doing tedious sourcing, but I recently asked for more and got a pitch book to work on. Haven't done any modeling, but I'm pretty sure I'll get to soon. You're also a sophomore, so stick with it 6 months and it'll look amazing come SA recruiting, just figure out a way to word it on your resume and talk about it well. Also, having an internship during the semester always looks good as it shows you can handle the hours, so take anything really. PM me if you want to know anything else
@America-Isn't-Free' Thanks for the insight, sent you a question via PM.
There is no question you should do it -- but you should not have an entitled attitude (not saying you necessarily have one). You will have to do a lot of grunt work. But that's what interns, especially sophomores, are for. It will build a great resume though.
Worked at a search fund as well. PM me if you want to talk
NotATarget I know this thread is old, but would you mind if I PM'd you as well? Currently at a search fund, trying to network my way into IB. Curious how you did it and how you leveraged your internship. If you don't mind sharing it here for everyone else to see that'd be cool as well.
Search Fund Internship to MM IB (Originally Posted: 07/29/2015)
Hi guys, I was wondering how search fund experience is viewed when recruiting for FT jobs. I have done a lot of deal sourcing but I've only done two DCF's and one lbo model.
My goal is to end up going to a MM IB. I was wondering if you guys have any advice on how to spin this experience.
I am also doing a search fund/private equity internship. It depends. Through my contact, I am into super day in 2 MM banks and hopeful an interviewer at Goldman and Wells. So It depends on various things. is that the only experience you have;any IB or finance related internships. the more the better(particularly the length) that's what is currently helping me.
Bump
BUUMP.
My search fund experience has been very well received. Generally, you don't have to even go into detail describing a search fund, just treat it as general private equity internship experience (which it is). Don't hide the fact that you did a lot of sourcing, embrace that and say that you were able to gradually take on more responsibility (if true, obviously) in taking on some modelling and analysis of deals and being exposed to the negotiation processes.
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