Silver BananaTopicReplies
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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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Credit PE vs. traditional PEI'm currently working at a traditional PE firm, and was reached out by headhunters on a few opportunities regarding the private investing arm of credit/special situations firm focused on distressed long-only PE and special situations lending. I didn't find much information on credit PE funds, so w...
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Advent International Corporation - Review - N/A* Awesome opportunity to work on live transactions * Exposure to senior team and executives from portfolio companies . * Hours, but it is justified by the experience you get * You have to be figure out some things by yourself ...
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Atlas Holdings in CTHave not been able to find much on these guys despite considerable growth in recent years. I believe the current fund is 3 billion, located in Greenwich. Can anyone provide insight on the Field Analyst program & recruiting process? Culture? Etc. ...
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Favorite Distressed LMM PlaysCan I get some case studies/examples of everyone's favorite distressed lower middle market plays? Bonus points for anything in consumer. ...
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Moelis NY placements for this cycle (HF and PE)?Hello everyone! I will be interning at Moelis NY in Summer 2019 and was just curious how well Moelis analysts placed this cycle. Appreciate any information regarding this!...
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Help Me Pick Between Two Very Different OptionsI'm sorry for using a burner account but I don't want to give anything away here. I'm current a banking analyst and I'm weighing three options for a new role next summer (2019). I would love to get input from more experienced folks as they're a little different. I think long-term I would prefer to w...
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Buyside Jobs out of UndergradHow do the people who get jobs at places like Silver Lake, Silver Point, and Blackstone do it? Are they just smarter, do they work harder, is it connections? And how do those jobs compare to top banking jobs at GS, MS or EBs?...
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Apollo Global Management - Review - GeneralistHappy with the level of challenge and motivated to continue to grow. Good environment overall vs alternatives.. Long hours which is typical. Would like to focus more on a specific industry or two but am more general....
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Questions to PE recruiters?Hi, I was wondering if there are any PE recruiters / headhunters on the forums please? I came from an unconventional background but have relevant industry experience (but not straight 2+2). In this case, what experience can I gain to make myself a more credible candidate? I'd really appreciate a cha...
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IB or $200M PE Fund out of UG?I'm in an interesting situation and I was hoping that some of you WSO members could lend me a hand. In Summer 2017 I interned at a small PE fund (three employees, $100M fund at the time) after sophomore year. I really enjoyed my time, but due to the fact that I wasn't graduating for two years I re-...
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Deloitte & Touche LLP - Review - N/ADeloitte has a great working culture - the people really make the firm. There are many opportunities to check in with managers for performance reviews every month.. The pay is not enough for the amount of hours that you will work. Expect to work 55 hours throughout the year within the Investment Man...
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Roark Comp?Anybody have ballparks or numbers for Roark in ATL for associates, senior associate and VP level? There seems to be minimal comp info on WSO here, mostly at the analyst level. ...
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Evercore and Lazard NY Placement Just wanted to make a post to see how EVR and LAZ did this year in regards to PE placement. Thanks guys....
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Experienced associate/analyst job search discussion groupHaving worked at a middle market PE firm, where there aren't many peers to trade notes with, pretty much since college, I wanted to see if there's interest in a job search discussion group. It'd be a group for anybody who has gone through or is going through associate or experienced analyst recruiti...
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Culture at Brookfield?Hi guys, Anyone familiar with culture at Brookfield please? Looked at one of their postings online and there was a question on “in 150 words or less, tell us something unique about yourself”. Wanted to get a better sense of the group’s culture please. Thank you!...
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Confused on Credit Suisse Direct Equity Partners, Piper Jaffray Merchant Banking/Private Equity, PE at I-Banks in generalHey does anyone know anything about the DEP group at Credit Suisse or the merchant banking group at Piper Jaffray as it relates to pay, culture, exit opps as an analyst? are these groups similar to Goldman's PFI group? How are private equity funds at investment banks viewed in general? It seems like...
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Greenspring Associates - Interview - N/AAfter going through the fit questions, I entered the more technical section of the interview. My interviewer asked me how to value a company. Initially, I tried to run him through a valuation method like discounted cash flow, but the interviewer stopped me and told me it was not necessary to run thr...
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Info on CD&R / Centerbridge / Cerberus / Golden Gate / OnexIf anyone has familiarity with the above shops past what is listed on websites, already on WSO, or in public pension documents, would be great. If anyone has had these guys in a sell-side process would be good to know what your impression was. Primarily concerned about b-school pipeline, deal experi...
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Thoughts on Permira?There doesn't seem to be much info on Permira here. Any thoughts on culture, deal flow, senior members, reputation, comp for the American office (either NY or Menlo)? I know they have a strong presence in Europe and have done some interesting deals there, but am curious about what people have heard ...
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Prudential - Interview - InvestmentsOne on-campus interview, followed by two in-person interviews at their Newark location. I feel the most difficult part was they didn't explain what the capital group did very well. They called the loans "deals" over and over and not truly explaining that or the link their group had to the capital ...
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HIG Model TestAnyone have insights on HIG Capital (NY office) for their Advantage Fund? I have a modelling test next week for Summer 2020 and would appreciate any tips or thoughts...
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Recruiting for Private Credit vs Private Equity?For those of you who have had to make the decision to recruit for either private equity or private debt, what made you choose your decision, did you do both, one or the other? Ex. Would you rather do Ares Direct Lending or Ares PE...
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From IB to operationally focused upper MM funds (BainCap, H&F, Golden Gate)Hi guys, Does anyone have experience recruiting for the consultant friendly operationally focused upper middle market funds coming from IB in Europe (e.g. Bain Capital, Helman & Friedman, Advent, EQT)? Did you perceive to be at an disadvantage compared to consultants (as is the case for consultants...
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Sample /practice case studies?Hi guys, Are there any books/learning resources on practice case studies please? I’m not asking for real ones but just ones we can do as practice before interviewing. Much appreciated if anyone can recommend a course or something. Thanks!...
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What does IVP mean on this forum? It appears IVP has been tossed around to define either Institutional Venture Partners or Insight Venture Partners with the former being venture and the latter have a combination of venture, growth and equity. Is only one of them "IVP" and what are folks' thoughts on the two? I would be interested ...
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Private Equity Internship - LondonHi guys, I am about to graduate in engineering (MSc) from a top engineering school in Europe (think Oxbridge) and did an internship with a returning offer in a tier 1 consulting firm (MBB) - not London office though. I am really looking to break into PE - either long term post MBA or now by possibly...
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How real is the pigeonhole?Hey guys need some insight here: so I’m a second year analyst at a BB power group at the moment but have the opportunity to move internally to another group. They're just starting out a junior team at this office and so I’d work directly with a super lean vertical and closely with an MD. Thing ...
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OMERS - Review - Generalistinteresting work, good community, good work-life balance, good brand, large institution with credibility. --------------------------------------------------------------------------------------------------------------------------------------...
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Tiny PE firm or established PE fund of funds?Quick synopsis: I don't like my current job so I'm interviewing at a small PE firm and a large PE fund of funds. Is it better to work at a small PE firm or a well-respected PE fund of funds? Company A is a small (20-person) PE firm that specializes in real estate debt. It is hard to find a lot of i...
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Blackstone Group - Interview - TreasuryBasic behaviorals and technicals. Was really asked why corporate finance instead of investment banking, which was difficult because the MD was clearly not satisfied with my responses. Was asked about currency exchanges (Sterling denominated vs. EURO). Second round phone interview was much easier as ...
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Two-Year Sabbatical/Break from PEI’m a Senior Associate at a MM PE fund in my mid-20s. I enjoy what I do, but want to try something different. I’ve had an entrepreneurship bug as far back as I can remember, so this would be the most logical place to jump, for me. Chances are I’ll fail. I’m quite realistic about the probab...
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Venture Capital/Growth Equity Fund of Funds Exit OppsHi all, I'm graduating college this winter (BA in Econ from a lower top 10 public) and I'll be starting a full time at a venture capital fund of funds soon after. This past summer, I did an internship at a US equities active management firm with a fairly large AUM (but not particularly well known)....
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Impact investing - choicesHello everyone, The subject of impact investing hasn't been very prominent on this site so far, but maybe there is someone here who could help. I'm currently in M&A at a strong MM shop in a major city and but decided to abandon banking for international development / impact investing. I've secured ...
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Ironwood capital in Avon, CTHas anyone ever heard of this firm? I was looking at it for a summer internship after my sophomore year and was wondering if a place like this would help with BB IBD junior year internship recruiting. The only real reason I am thinking about this is that it is close to my house and i would not have ...
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ResearchI am a beginner in this field. I want to gain enough knowledge on this before applying to b-schools and move on to a career in private equity or hedge funds. ...
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Fundamental analysis on securities trading business (please help!)Hello everyone, So I need to do a fundamental financial analysis on a business that is 100% focused on trading in securities (they are not in market-making for clients, they earn small but consistent margin from arbitrage). This is essentially and investment fund. On the basis of my analysis we are...
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2018 Private Equity Report – 8 Key Highlights & Trends The 2018 Private Equity Industry Report compiled by Wall Street Oasis (WSO) provides insight on total average compensation, professional development, senior management and more. All statistics featured in the reports are based on 5,630+ user submissions from professionals in the private equity ...
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New York Technology Focused Buyout ShopsHey guys – I wanted to try and get a list of some reputable buyout shops (not growth equity) that participate in internet/software buyouts. I know that the majority of these are located in San Francisco/Palo Alto/Menlo Park. However, there are a few such as Siris Capital (web.com buyout) that are ...
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Should I give up on trying to move from tier two consulting to blue chip PE and instead shoot for banking?I'm a year and a half into the job and have been working so hard to break into PE from consulting, but it's not working. I'm wondering if it makes sense to just call the two years a wash, reach out to fellow alumni of my undergrad, and start over in banking as an analyst next summer. Will a reset b...
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Buy side tipsWhat kind o tips would you give someone who wants to work in the buy side? For instance in terms of internship/academia . In my particular case, doing a Msc Finance is absolutely necessary (poor undergrad brand). Which kind of master do you suggest to work there (I know, it includes a broad variety...
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Macquarie Capital vs Macquarie MIRAI have an option to either work as a SA in MacCap or Macquarie MIRA (their PE arm) in the real estate group. Which do you think is a better opportunity overall. I know they are known for infrastructure making me think MIRA is better but I am still a little torn. Long story how I got both offers but ...
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Neuberger Berman - Review - Private EquityGreat company with great culture. Deal flow is very strong and AUM is growing year over year. There is a lot of positive momentum. Partners are intelligent and care a lot about the work they are doing. No clarity in terms of long-term career opportunity. No formal staffing and review process. Senior...
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How long did it take you to land your offer?I have gone through a handful of rounds for private equity ranging from 1st round to final rounds and have come short every time. This has become a frustrating time for me and it is only making me lose track of the end goal as the entire recruiting process is wearing me down. I am a second year at ...
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What is Canada comp like?Hey everyone I just have a quick question about PE in Canada. What are the comps like at the big Canadian PE shops (Onex, Birch Hill, etc)? What are the comps like working at a PE arm of a pension fund? Is IBD or PE generally better in terms of long-term careers in Canada? Thanks...
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Two Output Variable Data Table?Hello! I am trying to create a two-variable data table showing two output variables. I have never seen one before but believe it would be very slick. Here is what I am trying to do: Input variables would be hurdle rate and upside split. Output variables would be GP IRR and LP IRR. I am envisioning...
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Credit to PE I'm an undergrad who will intern at a credit fund at a larger PE firm like Apollo/Ares/TPG/BX/Bain/KKR. I'm not sure if credit is what I want to pursue long term, and don't know about placement yet -- I could end up doing anything from distressed to CLO to direct private credit investing. If I want ...
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Lost in my career (Advice needed)I don't want to make a super long post but hoping to glean some advice from the forum given folks here are quite knowledgeable and helpful. Long story short, I was a typical monkey who thought he had his life together. I went to an upper ivy (HYPS) and then MBB for 3 years and then started a UMM P...
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BDCs Investing in Companies with Under $10M in Revenue?Does anyone know of a BDC (pubco or not) that does deals with companies that have under $10M in revenue/between $1M - $3M in EBITDA?...
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Are any sourcing firms still interviewing?Thanks, any info is appreciated......................................................................................................
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Mainsail Partners - Culture, Comp, Work / Life BalanceCan any previous / current investment professionals (or friends of such individuals) comment a bit on this firm? Looking for information about their associate program in particular. I haven't read too much about them, but from my view they seem like a solid, growing firm with an interesting strategy...
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European Waterfall Compensation ExpectationsDoes anyone here work at a PE firm that has a European Waterfall distribution structure? AKA carry isn’t realized for the GP until the entire fund reaches carry, rather than individual exits. I’m wondering how compensation/bonuses are for a fund with a European Waterfall, considering the fund ...
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Corporate Venture Capital vs Independent Venture capital firms ?what's the pros and cons of starting your career in CVC vs independent VC firms? Will having the brand name on your resume (i.e intel capital, comcast ventures and etc) help you to move to top VCs like Sequoia or Andreessen? or I'm better off starting at a independent VC shop with a good track recor...
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Innovating Deal Sourcing FunnelHey everyone! I'm working at a corporate VC and am in the process of rehauling our entire sourcing process hahaha. Currently using Excel 365 with Power BI, and everything is so boggled down and slow and buggy it's terrible. So basically, in my ideal world there's a form where startups can enter the...
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BlackRock Raising a $10-$20bn direct PE investment fund, “Long Term Private Capital”Has anybody heard about this group? They’re raising a $10-$20bn fund and I’m interested to hear any news or gossip that fellow monkeys may have...
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Carry Timing Two questions regarding how carry usually works at middle-market PE funds, particularly at the Sr. Associate / VP levels: 1. If you join a firm when the current fund is 50%+ invested, do you still get carry (assuming you otherwise would)? Is the amount typically reduced proportionally, or how does ...
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CPP Investment Board - Interview - Private EquityThere will be a lot of questions focusing around what you think makes a good company to invest in / investments you have made. There is a case to complete in 48 hours as part of the super day. The other questions are basically an extension of guide questions or about your prior experience / about yo...
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HBS Search Fund Conference TodayUsing a throwaway here, though I am a consistent poster - anyone at the HBS search fund conference today (hosted at HBS) and want to connect during the networking cocktail hour? I am considering raising a search fund and am always looking to meet fellow monkeys. Thanks!...
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Baring Private Equity Asia - Reputation?Hear that they recently had a $4.5 billion first close. Anyone aware of their reputation in the Asian PE landscape? Certainly can't be too bad with a first close like that, but how would they compare to American / European megafunds in the region? Thanks in advance all!...
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MM/LMM PE Recruting - 2019/2020Anyone have any advise regarding who the best recruiters are to work with in the space? I'm currently at a MM bank in a regional office as a second year analyst with a few deals closed. The majority of deals being from $200MM-600MM. However, I was fortunate enough to work on a $2.5Bn sell-side that...
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Experience with Siris Capital?Anyone have exp with Siris Capital? Is this a high calibre / reputable shop? Currently an mbb consultant and being positioned by a recruiter for a role there. Had never heard of them. ...
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From HF to PE with no prior banking experience Folks, Anybody has experience with moving from value investing HF to PE without prior banking experience? Went from no-name undergrad straight to HF thank to an unconventional background, but now 4 years in am looking to switch, but concerned about the structured pedigreed recruiting process for P...
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Canadian PE - which firms have spring and summer internship programs?Hi guys: A quick question please - do you guys know which Canadian PE firms run spring internships (aside from PSP for Quebec schools), and what the timeline for these generally are please? Similar questions for summer - I've seen occasional postings from Brookfield - but is this something they oft...
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First job experience, PE/VC Tech FocusHi guys, first time posting here. First internship experience and have an interview with a little investment team, tech focus. I know the basics for IB interview, any advices on how to master a PE Interview where u should be tech oriented? thanks...
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Blackstone Group - Review - Asset Managementvery positive experience for junior employees with tons of opportunities to learn. senior people are approachable at all times . none - the hours are reasonable from a finance perspective. overall culture is very positive and there's not much to complain about. HR seems a bit overworked and not very...
Audax Group - Interview - GeneralistCase study was the most difficult. Asked how you would consider an opportunity around investing in a company that made signs for public transit systems particularly used in Philadelphia (SEPTA rail, bus, etc.). Started from scratch and was asked to walk down the income statement from there. I was gi...
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Need help with a Growth Equity Sourcing TestHi everyone, Created a burner account for the sake of anonymity. I'm interviewing with a fund (think TA/Summit/GA/IVP) that asked me to source a few companies that fit these specific parameters: - $15mm Revenue - Double digit growth I have identified a few consumer, enterprise IT and securit...
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100-Day Planning ExamplesHi fellow monkeys, I was tasked to lead the effort of drafting a 100-day plan for a new investment. Appreciate it if you can share examples/templates/recommended structures? My internet search didn't return much... Thank you in advance!...
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Startup Pitchdecks for Venture Capital Does anybody have a good example of a Startup Pitchdeck for VCs? Other than the ones you can find online. anybody mind sharing some of their own? Thanks! ...
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Calculating Investor Gross IRR where you have cash inflows before outflowsWe have a new fund (1 year old) which uses a revolving line of credit to fund investment purchases. We used the line multiple times before we called capital from Investors for the first time. Investors received distributions before they ever contributed capital. Because of this, there is no initial ...
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Highbridge Capital Management - Interview - EnergyHad to pull together a 15-page case study with model, industry analysis and asset-level valuation on an E&P company and present to the team. Key ask was to figure out whether to invest and at what level of the capital structure. Leaned heavily on upstream knowledge and recent deal comps as credit ex...
PSP Investments - Review - GeneralistCulture was good and the Company and had several resources for analysts to succeed and get promoted. All-in-all good place to work.. Hours were terribly long and felt I was not getting compensated for the level of stress. Individuals were okay at time but team cultures varies a lot by team....
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Canadian PE Phone InterviewHi everyone, I just got a PE phone interview from a Canadian PE fund. I knew that I had a weak background compared to other candidates (Did maths in undergrad + accounting in master + BIG 4 Acct Experience + 0 deal experience). I knew that my chance was not big. But still I want to do something. I s...
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Haven't heard back from final round interview?I finished up a final round interview with a fund a couple weeks ago and I thought I gave it my best and got along with the team pretty well. Did think I could've done a bit better in some aspects, but for the private equity recruiting process, it always seems like all candidates can do better. It'...
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KKR Real Estate Credit TeamHi all, I have a first round interview coming up with KKR's Real Estate Credit team and I was hoping someone here could shed some light on what to expect/how I should prepare. Any help is appreciated! Thanks, Tim...
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Fundless Sponsor LaunchWSO Members, I am launching an Independent Sponsor (Fundless-Sponsor) firm to focus on Lower-mid market deals in the US and Canada, and I was interested in receiving feedback from the community regarding interest in partnering with me on a part-time or full-time basis. I currently have a network of...
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IESE vs HEC MBA? I have 7+ years in Oil and Gas and Power experience across Africa (operations and later advisory) and recently gained admission to IESE and HEC, ideally I would like to switch careers to PE firms that buy in Africa, what school best supports my ambitions and realistically how hard will it be?...
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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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Warburg Pincus - Review - Investor RelationsGreat culture and company. Very cordial community and a lot of possible exposure to senior management across the firm. . None. Great company and very flat, cordial culture. Work is incredibly interesting and access to a lot of new opportunities. ...
Audax Group - Review - GeneralistWork was very interesting with a lot of varied intusdry coverage and considerable deal flow to learn from.. The hours and style of the fund made work extremely heavy, lots of add ons create tons of repetitive work. ...
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Lack of ModelingSecured a FT offer in a group that is known as the top group in the bank. Strongest deal flow and hardest group to break into. Only issue is that they don't model. Goal is MM PE. Do I need to look at lateraling to another group based entirely on the fact that my group doesn't traditionally run with ...
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Best Groups to Snipe Talent From?Looking for recommendations on specific groups/firms I should be targeting to snipe talent from. We typically buy/invest-in companies with under $10M rev in the eComm/consumer brand space. We've been targeting an assortment of LMM firms because the BB guys have a skill set that is too different an...
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