Silver BananaTopic
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WSO Hall of Fame: Private Equity Forum The Wall Street Oasis Private Equity Hall of Fame provides a comprehensive collection of some of WSO's best discussions on the private equity industry. Keep in mind this Hall of Fame does not include Q&A sessions by WSO veterans. To view a full list of Q&A’s & Interviews please navigate h...
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Thoughts on Macquarie Infra PE SA over regular investment banking SA?I got a summer offer in infrastructure private equity with Macquarie Infrastructure and Real Assets (MIRA) in New York. What are some thoughts/pros/cons on taking this offer over pursuing a more traditional summer analyst gig in investment banking?...
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Company Interview: Koch Equity Development - Summer Analyst1.) pitch me an investment idea for a stock, can be long or short position. after going through my pitch, asked me industry-specific metrics of growth (think: number of stores, vehicles sold, etc.) 2.) tell me about a time your opinion was challenged. (I gave a story where I compromised with someon...
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Is it true that Private Equity requires more quantitative and technical skills, while Venture Capital is more qualitative? From what i'm reading online, i get the idea that the job in PE involves more technical knowledge, working a lot with models, and having in general more quantitative skills to be applied. On the countrary, i seem to understand that while a certain degree of quantitative skills are still required in...
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Top Cities For Venture Capital In The US and Internationally? Bit curious as to what you all view as the top VC markets in the US/Internationally currently? In the US, I'd assume that the San Francisco Bay Area is the top but what other major cities do you see as hotbeds for lots of activity right now? Also looking on towards the future, what are some up and c...
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What to expect in an informational interview (still undergrad)?Through some networking and cold calling, I've managed to set up an informational interview with an investment analyst for a reputable MM PE firm (outside the US). I'm at my final year at uni, and I have work experience in boutique IB, VC and an upcoming Big 4 CF internship. However my GPA is pret...
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Company Interview: Generational Transfer Entrepreneurs - Summer AnalystThe questions for the most part were relatively easy questions to answer. I remember one particular question that threw me off was how to think strategically about a specific company. This is a pretty standard company but then they said to do some strategic thinking on it. I wasn't exactly sure how ...
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Thoughts on Caisse de Depot - Private Equity as an undergrad analystThe Caisse de Depot et Placements du Quebec (Caisse or CDPQ) manages ~CA$286bn and has ~CA$30bn allocated to its private equity division. They recruit some of their interns as full time hires (although most of them seem to leave to go work in IB after they are done). What does WSO think of them? T...
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Private Equity Compensation? Hi, I was wondering how much I can expect to make in private equity? I have the opportunity to go to a target school in Canada, and I originally was premed, but have developed a liking for finance. I know that investment banks 100k+ in the states, but I how much can you expect to make in buyside fin...
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Millionaire by 30Hey there wolves. I recently set a goal for myself to be have a million dollars sitting in my savings account before mid-age crisis blows me across the face like a metal baseball bat. If there's any of you young bucks out there on the street with a similar goal. Matter of fact, if you're a veteran r...
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Abraaj Capital - Global Anlayst Program - 2017 IntakeHey Guys! With regard to the above captioned subject, I'm looking to get in touch with candidates who have applied for Abraaj's GAP for the 2017 intake. In this regard, I'd be grateful if people can apprise about the status of their application process. Also, all those who are familiar with the sai...
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Typical Percentage Carry at a Megafund vs. MM FundWas wondering if anyone had a good sense for what a "typical" carry precentage is for each investment professional at megafunds (e.g., Apollo), upper MM funds (e.g., Vista Equity Partners), MM funds (let's say investing out of ~$1bn current fund), and smaller funds (e.g., $500mm)? How does that vary...
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Equity for Real Estate DevelopmentWho would you use for private equity in major developments in key cities in Europe for resi and hotel development?...
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Ares Credit / Direct Lending - NYWhat do you guys think about this team as far as credit exit opps go from IB? Seem to be the domiate direct lender in the space but curious what this forum's thoughts are on the group. Pay seems to be comparable if not better than what ive heard first year PE guys making, and lifestyle seems much be...
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Company Review: Goldman Sachs - greatPeople around are smart. I learn a lot.What makes a happy company? There is a growing body of evidence that a happy person performs better and is more successful in the workplace. Whilst the evidence may not yet be conclusive, surely it is better to be happy at work than not? A number of surveys ha...
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Aquiline PartnersAnyone have any insight into Aquiline Partners and its summer analyst and analyst programs? It does "FIG" PE since it specializes in financial services. Would that pigeonhole you?...
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PE Headhunter RecruitingI would appreciate if you could share your knowledge about how headhunters recruit IB analysts for PE jobs. Do headhunters forward resumes to their clients on a rolling basis or is there a particular time, such as a few weeks before the PE interviews are expected to begin, when headhunters begin ...
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Little Known Secret to Start Angel InvestingIn today’s post, I’m going to share an extremely valuable insight which I came across while listening to [The Meb Faber Show](http://mebfaber.com/podcast/) podcast; in particular, [episode #69](http://mebfaber.com/2017/08/30/episode-69-jason-calacanis-little-secret-way-dark-art-becoming-truly-we...
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From Private Equity Associate to VP in Private EquityPrivate Equity Associate There's a perception of people on the street that private equity is the cream of the crop. The hours, the pay, the beloved carry, the work itself - is it all greener grass syndrome? Not quite, private equity is pretty awesome by most standards; that's why becoming a private...
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Company Interview: Bain Capital - Bain Capital1. Tell me about an interesting book that you've read. 2. Tell me about one of your favorite classes and something specific that you learned. 3. In analyzing the market for a commercial vehicle manufacturer, tell me the differences that would exist for suppliers of wheels and suppliers of transmissi...
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Can anyone help me value the worth of this internship?I recently got offered a PE internship at a search fund that specializes in partnerships with companies with $10-50m valuations. They're a relatively new fund so they don't really have a presence in the Bay Area but they've had 10 successful deals thus far in the Software industry. The MDs are reall...
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Infra PE Analyst vs. Pension Fund Infra PE AnalystFirst time writing at WSO. I've been spectator for some time - finding this website has been the best thing ever happened to me. I'm saying this because now I have few decisions to make! FYI. I have always been interested in infrastructure and project finance. Option 1) Public Finance role at BB...
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Energy PE Recruiters/Search FirmsDoes anyone know which recruiters/search firms recruit for the main Energy PE firms? I'm doing oil and gas banking at a decent shop but haven't heard anything yet. Just curious for firms like NGP/ Encap / Quantum / ArcLight/ Riverstone / Kayne/ etc. etc. Any insight on the above is much appreciated...
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Recruiter InformationGiven that there doesn't seem to be too munch information on the clients that most headhunters/ recruiters represent, does anyone know which PE firms the below recruiters represent? Any additional info. on these search groups would also be greatly appreciated. SearchOne Carter Pierce SG Partners Dy...
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Company Review: Macquarie Group Limited ABN - Macquarie CapitalVery big and complex projects to work on. Good atmosphere within the team. Compensation is fine but not too much. Sometimes long hours. Also you do a mix of investment banking (advisory) and infra investing. I was not a fan of the advisory...
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Modeling tests/case studies to share? I'm just beginning the recruiting process at a number of PE shops and wanted to ask if anyone is willing to share some modeling tests/case studies? I want to brush up on my skills. Happy to share what I have as well....
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Special Situations/Distressed PE - strategies? process?Do most distressed/special situations PE funds strategies lie in using their network/i-bankers to source companies that need an equity infusion or might be a good loan-to-own bid? It seems like such a broad area, so I'm curious what the general thought process is behind most of these funds' strategi...
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Goldman Sachs Private Equity Group (PEG)Anyone know what typical total comp is at the analyst/associate/etc. level? Currently a senior at a top ivy and also wondering about culture etc...
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Doing a second pre-mba Associate stint at a larger PE firmI work at a lower MM PE firm and am wondering if it is worth exploring this option once I finish my current program (2-3 years). Let's assume for the sake of the discussion that my long term goal is to end up in a partner-track position at as large a PE firm as possible. My reasoning for considerin...
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Post MBA INVESTMENT Exit Opps: Consulting vs IBDHi All, I am interested in hearing about the finance/investment related exit opportunities that people have seen pursued POST MBA for banking and consulting. I am speaking about someone who joins banking or consulting after MBA with no experience in either beforehand and considers exit within 2 yea...
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Rescue Financing / Control InvestmentsI am senior at a Non-target UG who signed a FT offer with a top-tier BB (GS/JPM) to be in a desk analyst role focused on distressed credit situations (after spending the past summer there). I have good reason to believe this sets me up well for distressed debt hedge funds. However, I recently atte...
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Company Review: Goldman Sachs - 4Djzjdnekdidndidjekdnrjdndndjsksoelsldlrmdkdoekndkvitntidjfitndjfjfnekdnfjfnrmkdkdkekdkjdnrnnrkfkfkfkrmkr. Mdn3odkdoekjfofjrjjrjrkrkrkrkrkrkrkkrjrjrkrkkrjrkrrjrjrjrkrjrkrjrjrjrjrjrjrjrjrkrkkrkrkrkjrkkrkkrkrkrkrkrkrkkrkrkrk...
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How to Explain What Private Equity is to a LaymanHow do you guys explain what private equity is and what you do to someone has no idea what PE is in a way that they can understand? Seems like every time I have this conversation they just nod there head and smile, so trying to come up with a prepared response that a layman can grasp and appreciate....
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Best Private Equity Firms in San FransiscoAnybody have any insight on this? Would love some insights on good PE shops that hire out of undergrad (Stanford/Berkeley)...
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Company Review: CPP Investment Board - InternPretty relaxed environment with no face time and smart people. At the same time it was too relaxed sometimes. . Too relaxed at times and some people were complacent. Some people never get fired which makes people lazy....
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PE Internship and payHow many here has interned at a PE firm in the US? Is anyone willing to comment how much they got paid a month? I might have a internship at a low-middle market PE firm for a year and I'm wondering what I can expect to get paid. Thanks!...
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Corp Finance to PE - UpdatedFellow Monkeys, I'm a first year analyst at a respectable MM (Jefferies, Mizuho, Macq) in a corporate finance advisory role covering TMT. The bank is known to have some high profile clients in the TMT space and I have had some exposure to some rather large names. Before my role here, I was a credit...
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PE Firms Recruiting UndergradsI'm a senior at a target school (HYP) who did a tier 2 consulting internship last year (OW/Deloitte/S&) and am looking to start my career in PE. Does anyone know if any PE firms are still in the process of filling their 2018 analyst classes with college seniors?...
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Rollups in IRR calculations - how to address?So let's say you're given a case where the sponsor with majority ownership of a company makes several smaller roll-up acquisitions. If it **doesn't** say whether or not the sponsor uses their own money, do you assume the company uses their cash on hand, assuming they have some, and the rest is spons...
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What does an experienced private equity associate resume look like?Hey guys - I'm currently finishing up my first year as a PE associate and am thinking now would be a good time to update my resume (have closed two deals). While there are a billion examples of investment banking resumes out there, I haven't seen a single example of what an experienced private equit...
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Final round interview with Megafund advice?So I have a third round coming up at one of the top funds. and I'm really stumped on how I should be preparing since we've covered all bases. From what I was told from HR after the second round, the next stage will probably be with the associate/VP again. The interview line up looked like this (30 m...
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FIG PEI'm a first year analyst in FIG at a lower BB shop who's debating whether to move A to A down the line, or move to PE. I know the FIG PE opportunities are narrower than other coverage groups, and was hoping to hear some thoughts on PE shops focused on FIG, particularly if anyone has any knowledge on...
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PE summer internship applicationHi guys I am aware of difficulty of breaking into private equity after graduation. But I just want to know except for Blackstone, CDH, Hong Capital, Hillhouse Capital Group are there any other private equity have summer internship program? Well I come from China and now study in London Therefore l...
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Ares Special SituationsHey guys, If anyone has interviewed with Ares' special situations team in LA or knows anyone who has, would love to hear about your experience. Have a first round coming up so wanted to know what the process entails. Thanks in advance!...
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Performance Equity Management I have a second round interview with PEM and part of the interview will be an hour long technical exam. Any idea of what the technical exam might consist of? Is it a lbo model? I'm really interested in this firm so any advice or suggestions would be much appreciated. Thanks! ...
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Business Development Comp in PE?What is the comp range for business development associates at well known MM private equity firms in medium-high cost of living cities?...
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Target monkey who graduated from non-target zoo. Landed an interview with Vista Equity Partners. What do I expect?Been fighting like hell to break into banking. Became deal sourcing ninja. Now have PE interview. What to do now? How to prep?...
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SIlverLake Partners; Buyout, Late Stage Growth or both?I noticed that Silver Lake Partners pursues "large-scale private investments in companies within the technology, tech-enabled and related growth industries" but that it seems from looking at their portfolio they do a combination of buyout (Dell) and late stage growth (Groupon, Ancenstry). Is this ...
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Is Search Fund Experience Valuable?How is Search Fund internship experience looked by Investment banks and Private equity firms? I have work on a few lbo models, build three statement models, work with brokers for finding deals and evaluating CIMs....
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Blackstone First Round Interview - Real Estate (Hong Kong)Hi, I'm an undergrad junior, non target, internship in Corporate clients last summer but not really IB -- I have an interview with Blackstone Hong Kong Real Estate in a few days and was wondering if anyone could give any insight about it? Any information about Blackstone's general first round inter...
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Company Interview: Borland Capital Group - Borland Capital GroupThey asked most questions on your resume. They went point by point through your entire resume and then asked you questions about the different aspects of your resume. The only hard questions they ask is that they want you to pitch a stock, and pick an industry for you to go long or short on. They al...
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How is TA Associates and CVC - LondonCan anyone comment on the below for TA Associates and CVC: - Lifestyle / Culture - Type of fund (TA more like a VC fund?) - Sourcing Model - is TA really mostly cold calling CEOs? - Comp - Brand name / prestige (not so much important but would still like to hear your thoughts) Couldn't find mu...
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Abraaj GroupIt's been a while since they were discussed on this forum and never really in depth. They continue to grow their fund ($9B currently) and expand their international presence. I was just wondering if anyone has had any experience interacting/recruiting/working for them. I'm currently at a BB on the...
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What makes a good VC? (Research project)Hey everyone! Hope you're having a fine Saturday. I am working on a stats project and have decided to do it on what makes a successful VC. I need to come up with both quantitative and binary qualitative variables. Here's what I've got so far: Quantitative: -total $ amount raised in all funds -total...
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Venture Capital & Private Equity: Casebook - differences between editions?Hi guys, just need help with a quick question: are the cases from the older editions included in the newer ones? or are they constantly refreshed? Am asking to figure if I should get the 4th or 5th edition. any other inputs on the book are most welcome, looking to purchase to learn more re the inv...
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Corporate Development to Private EquityHey everyone, I previously posted about [this](https://www.wallstreetoasis.com/forums/entry-level-corp-dev-exit-opps) in the CF forum, but would like to see if anyone in the PE forum could share their experience moving from an entry level corp dev position into a PE analyst/associate role. Thanks...
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Where to Find PE Fund Performance DataI know when I was interviewing for PE, it was very hard to find PE fund performance data to gauge the attractiveness of different shops. Unless a PE fund has done ridiculously well or sh!t the bed, performance data isn't usually easily available to the public. Know Pitchbook provides some info, but ...
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PJT Secondary Advisory FT Analyst? Hello everyone. A bit new to WSO in that I have not officially posted before. I recently received a first round interview invitation for PJT Partner's Park Hill Secondary Advisory Group in NYC. I interned at a BB this past summer. I have not been able to find much information online since PJT Partne...
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Company Interview: CITIC Capital - PE Internthe most difficult and unexpected question is about the stock pitch because I thought it would ask me several questions about the financialling modelling and I have prepared the EBITDA EV and other things It turned out I never met questions like that Insead I was asked to looked for some promising...
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Infrastructure Private Equity Analyst InterviewHi guys, long time lurker, infrequent poster. I have an upcoming interview and although I have a rough idea on how to prepare, I was looking for some insight from more experienced people. For example: what valuation methods should I focus on, any relevant literature I could take a look at, etc. Any ...
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Starting investment banking career in EM vs USAHello all, If faced with the decision to start your career at a BB in an EM (LatAm, for instance) vs lesser known IB or PE firm in the US, which would you choose? I feel as though the BB brand (especially if at a JP/GS/MS) can still carry weight to US buyside recruiting, particularly if one is alr...
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Company Review: Carlyle Group - SatisfiedGood people, good comp, good work. highly recommended for people who want to get experience in private equity. None as of now. Obviously it is not a 9-5 company but everyone already knows that. People are good. ...
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Strategy& Deals Team to Private EquityI'm a senior from a target school currently applying to Strategy&'s Deals Strategy team in NYC, which does M&A advisory work for PE firms (from what I understand, they do commercial due diligence and growth strategy projects). I am curious to know if the firm and group in particular have enough name...
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Please rip apart my PE/VC information Memorandum (attached)Hi all, we are listing a SPAC that focuses 100% on Mining companies. The model is simply a listed PE/VC firm. Find attached our Memorandum and rip me apart like a Monkey. Tell me the fund is terrible and advise me where you can, I really respect the wealth of experience in this form. In the last se...
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Alix Partners (Exit Opps, etc) Hey Guys, So recently, through a former boss getting me an inroad, I was fast tracked to a second round of Alix's restructuring summer analyst program in SF. I was wondering if anyone could speak to exit opps- whether it be B school, PE (I've heard about exits strictly from restructuring), or st...
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Path to PE: Corporate Finance vs. M&A AdvisoryHi everyone. I am a recently graduated in engineering from a top school and acting as and FP&A analyst of an operating plant on the steel industry. I am having by now some interviews on Big4 M&A advisory and thinking what should be the best nest step for me having in mind a mid-term career in PE. ...
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Company Interview: Harvey and Company - Junior AnalystWhy do you want to be at this firm? Usually an easy question to answer, but because of the unique nature of this firm I found myself struggling to come up with a good reason why I wanted to be there. They are looking for people who are content to sit at a desk and do company/market research for 8-...
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Company Review: Blackstone Group - Summer Analyst and First YearGood people, free lunch everyday. Summer analyst program is cool with scheduled events and speaker series. Really strong division between the deal people and back office. Also, the interns rarely mingle because of hours...
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Hamilton Lane AdvisorsAnyone heard of them? I am confused as to what they are considered...an AM maybe? I would appreciate someone's help. Thanks to all in advance...
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Private Equity Interview First Round.. How Do I Prepare?Got offered a first round interview with a PE firm on campus. 2 interviews, 30 minutes each. Was told on Friday, interview is on Monday (tomorrow). I met a few people in the company at office hours and I have NO IDEA how I even got an interview (5 people on campus were selected for first rounds). I...
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CPPIB SA Versus I-Banking SAAnyone have any thoughts on taking a summer internship as part of CPPIB's new rotational program versus taking a Canadian investment bank? ...
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Company Review: StepStone Group - Needs to improve workflow managementHours were very good, generally, and the work they did was interesting. For the most part, the employees were not very demanding.. They did not master the workflow management / staffing process for interns, since it was a new program. Also, they only made one full-time offer out of five summer analy...
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L Catterton, New Mountain Capital, CharlesbankAnybody here have firsthand knowledge of these places? Wondering what the people are like, the apps process, how they're perceived prestige-wise. Seem like good back-ups. ...
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Typical hours for an Infrastructure Asset Management summer intern?I'll be interning at JP Morgan Global Real Assets division this summer and I was wondering what typical hours would look like? I suppose less than IB, but to what extent? Also, does anybody have any advice. Thanks!...
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Company Review: Apollo Global Management - Apollo Global Management PE Summer AnanlystGreat team, learned a lot, structured training in the beginning for all interns. Weekly sessions to learn about the industry and various groups within Apollo. Only got to see interns once a week, new office is really far from the main office, schedule is variable...
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Is this considered a search fund?Hi all. Recently left post MBA Corp Dev role and raised some funds along with a partner and several hnw investors to buy out and run a small biz with ~$7m in revenues and about 50 employees. While this may sound like a search fund, one fundamental difference is that we are also looking to make one ...
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Seeking recruitment advice: MBB BA/A/AC w/o finance experience -> PEHi, I'm an MBB consultant and I have a few questions about PE recruitment. I found this forum a few weeks ago and spent some time reading past threads. I couldn't find past threads answering my specific questions, hence I decided to join and post. I'm interested in working in PE (like many other...
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Company Review: The Riverside Company - Good company to work for, steep learning curveSteep learning curve, high responsibility, good company culture driven by co-CEOs, global reach (North America, Europe, Asia-Pacific). Relatively small deals (EV up to $400 million), small fund size, long hours, relatively high employee fluctuation...
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Aurelius UKHi guys, I have an interview Thursday with Aurelius UK for an internship, a Distressed PE firm. I would appreciate any insight about the company, what do they usually ask.. anything I should know, please....
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Structuring management rollover and promote in practiceSo I know that management equity incentives can be structured in a variety of different ways. What are the most common structures for management equity, and how are the equity incentives funded? Like do you give them illiquid shares upfront, some type of convertible instrument, preferred, etc.? ...
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Headhunter meetingHad a headhunter meeting the other day and emailed a thank you email after. Should I be worried if they never responded? ...
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Moving from PE to VC or Growth Equity?Currently an associate at a MM LBO shop after doing 2 years at a BB. Have had a good experience thus far, but have in particular enjoyed the earlier stage investments I've worked on and would like to move my career more in that direction. What is the transition from mature MM LBOs to growth or VC ...
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Thoughts on Maranon Capital?How is Maranon Capital perceived as a MM lender? And does anyone have any insight into the firm itself?...
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Blackstone tactical oppshey guys, I have an interview scheduled with tac opps for next week (with 2 MDs from the team). Would anyone be able to provide any pointers on potential questions, things I need to know before hand. Any technical questions? My background is BB LevFin (2yrs) + mgmt consult (2yrs). Thanks...
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Boulder, CO - Grey Mountain PartnersJust curious to know if anyone has any information on this firm or knows anyone who has worked there? I'm looking for info on the culture, hours etc. and how it might compare to other Denver based shops (Platte River, KRG, Bow River, KSL, Lariat, others) Only info available on WSO seems to be qu...

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