Which PE firms are stricter with bank/group/target school and which are more open?
Based on speaking with people and here it seems that some megafunds are stricter with top school/top bank/top GPA while others are more laid back? eg. Silver Lake, Bain Capital, KKR being more strict and Carlyle being more lax about letting solid candidates have a chance. not saying carlyle's easier to get into at all, just that it will give a top non-GS/MS guy a chance to interview unlike the other places. just curious because i'm not the greatest candidate on paper so any idea on this would be appreciated.
Are you talking about specific preferences of specific shops / megafunds??
This is how I see it:
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And Carlyle is a much bigger fund than Silver Lake or similar firms... (and what is the obsession with Silver Lake on these boards?)
Solidarity, what I meant was which of the top PE firms care more about 1 as opposed to 3/4. I wrote Silver Lake because they seem to be very pedigree focused along with Bain Capital (everyone with summa cum laude Ivy with GS TMT), while carlyle seems to be more willing to take chances with an "average" candidate (only on WSO is taking a guy from a solid BB "taking a chance"). what other top PE firms do that?
There may be a bias towards candidates with the type of profile you're describing, but if you're smart and have solid deal experience, you can land an interview. Obviously, the bar is high to even get that interview, and will always be high, but just for some encouragement, I know many guys from CS and BAML that did not go to HYP get in to KKR and TPG, etc. In fact, getting into any PE shop is insanely selective; the competition is intense.
I wouldn't necessarily discount yourself to the degree your implying above - but I hear what you're trying to say. Believe in yourself, that's all! Carrying an attitude of defeat before the race even starts is never healthy.
From what I've seen, Carlyle has "fatter" deal teams. A lot of undergrads from my school end up working in their RE funds
I have a friend who just recently joined Silver Lake--quant non-Ivy grad, MS industry group. I guess you could call that an 'anomaly'
To answer your question I'd have to say that to a certain degree, every top shop is looking for a "pedigree." Some may be more selective (as you've mentioned) but your main focus should be in interviewing/group placement at this point. And plenty of people lateral from MM funds
@Solidarity, I agree with your ranking but I'd add industry group as 1b. Someone coming from a hot M&A sector (healthcare, TMT) is much more likely to get a job than someone in financials or CD. Sectors obviously go in and out of favor but it's helpful if yours is in favor in during recruiting season.
Thoughts?
Bain only considers students from top target schools. Carlyle & TPG don't care about school
What about Apollo?
Generally mixed, you likely need to be either top group and or top school. know that the two who just started in NYC this past august were both top target schools, one EB and one top 3 BB group. heard the class next year is people from OK groups but not top tier (assume they went to target schools to make up for it but don't know for sure). know of a person who got an offer a few years back for PE who was GS TMT/FIG but complete non target and got an offer there.
Somebody posted the BX m&a placement for the current second years on this site. 1 of them is going to Apollo, and given bx's recruiting practice it's safe to assume the guy is from Harvard/Wharton.
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