Best way to break into Private Equity Business

Question

I am looking for any good advice on how to break into the Private Equity business. I have extensive training in M&A but have not worked in the business yet.  Any help would be great.

cphbravo96 · Accepted Answer

abcdef123456Thanks all for your advice. One of few topics that everyone seems to agree on. Most likely, MBB is going to be my next step for a couple of years.

How can I increase my chances of getting into PE from MBB? I believe that in consulting you don't do any valuation, LBO model building, etc. ? Do I need to learn these stuff on my own or are they not necessary for entry-level applicants? Are there any specific skills I should try focus on in consulting that would improve my chances?

abacab · Answer

You are far away from PE. Best course of action is try to lateral to Deloitte/E&Y/PwC/ACN type place in their operations groups (not MBB, cause they won't take you, and don't make a fuss when you are slotted in as an entry level analyst). From there try to do MBA (cause PE firms don't hire PwC analysts). Since PE straight out of MBA without prior experience is really difficult, try to do MBB or IB and see if you can end up in some smaller PE shop from there. In summary, going to PE asap might not be possible, now or ever.

Ricqles · Answer

wells is ok. To be honest, getting into any solid funds (talking about LBO buyout shops or credit funds here, not growth guys) will be tough with a bank that's not gs, ms, jpm. People sometimes even hype up how "you do 2 years of banking and you get a PE job!" is so easy. Reality is, if you are not at top groups, you are the beggar. Yes, there will be people from wells, jef, db, citi, ubs, barclays, etc. going to very good/solid funds, but it's far from the norm and should not be expected.

BananaStand · Answer

I agree with ledger123.  I've never seen anyone from those banks (other than Jefferies) at > $2B AUM MM PE shops.  Macquarie's FIG group could be a small exception given they acquired Cochran Caronia, a fairly well-respected insurance-focused boutique.

Recruiters will put you in a database, but unless you blow them away in your info interview, they're unlikely to fight for you when they have more of a "sure thing" in Analysts from larger, BB firms who will have the same GPA and undegrad pedigree as you.

You're going to need to work the external networking or lateral to a larger bank.

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Best way to break into Private Equity Business

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