Silver BananaTopicReplies
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2017 Private Equity Report – 8 Category Highlights The 2017 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 4,750+ user submissions from professionals in the private equity ...
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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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Growth Equity recruiting undergradHello, I'm a current sophomore at a top target recruiting for summer internships, sophomore summer internship currently and junior summer internship next spring. Would like to join as a growth equity analyst after graduation. My questions -What are the technical questions/knowledge I need to prep...
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Advice Please! Growth Equity Interview Questions?So I just got notified that I've been invited to interview at a top tier growth equity firm, and the opportunity just sounds absolutely amazing so I'm desperate to land the position. If someone currently at a growth equity fund wouldn't mind elaborating on the interview process, I'd be forever grat...
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FT PE Analyst from UndergradHey everyone. I've seen a couple of posts like this, but nothing specific to my situation. TLDR: I want to begin the process of networking/preparing to be recruited as a FT PE Analyst when I graduate, May 2020. Any tips to a college junior in this position will be appreciated! More detail below. I...
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Work on the deals side or support of the Portoflio Would you rather work on the deal side or support the portoflio companies? Ceteris paribus - pay, hours, lifestyle ect. ...
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Tailwater Capital - Interview - EnergyThe most difficult portion of the interview was the technical questions related to oil and gas valuation. There were multiple valuation questions where the interviewer provided a portion of the normal information given to value a property or company, but made you come up with your own assumptions. T...
Strategy& - Review - GeneralistStrategy&'s Deals Strategy team is a fantastic place to work. Great mentorship, interesting, fast paced projects, and a fun, intelligent group.. Like all Tier 2 consulting firms, there is general dissatisfaction with the prestige of the company, especially with its integration into PwC....
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Only way to enter PE is via Headhunter?Hello, Not coming from I-banking so I already know everything is working against me. Still going to try though. Quick question though, is working with a headhunter the only way to land a job at a PE firm? Can you email the firm on the application process at all? Or is finding a headhunter the only ...
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AMA: Senior Associate at MM PE FundI used WSO extensively when I was breaking into finance and have been meaning to do this for a few years now. **Background**: I grew up in a town with ...
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Deloitte & Touche LLP - Review - Investment Bankingiuhlkjblhbflbslifesalrihjewsiuhlkjblhbflbslifesalrihjewsiuhlkjblhbflbslifesalrihjewsiuhlkjblhbflbslifesalrihjewsiuhlkjblhbflbslifesalrihjews. iuhlkjblhbflbslifesalrihjewsiuhlkjblhbflbslifesalrihjewsiuhlkjblhbflbslifesalrihjewsiuhlkjblhbflbslifesalrihjewsiuhlkjblhbflbslifesalrihjewsiuhlkjblhbflbslife...
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LBO - Seller's Note?Just took an LBO modeling exam for an interview and had a question. Part of the financing was a seller's note at 0.5x leverage (in addition to a revolver and term loan). I was fine with setting up the sources and uses, but was not sure how the seller's note gets treated in the debt calcs and IRR. T...
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StepStone Group - Review - Private EquityDecent hours. . Culture. ...
FIG Partners - Review - Technology, Media and Telecom (TMT)Awesome benefits package and ability to learn. Career progression is also fantastic and they allow you to have regular meetings with seniors. Long working hours and little weekend freedom. If you want a place that challenges you constantly then this is it....
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Interview - Case study help (Urgent)Hi everyone, Currently doing a case study for an interview on an private e-commerce company. How would you go about projecting visitors to the website going forward? The issue I have is that while I know marketing spend would increase going forward, I have no "scientific" way of justifying how sit...
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CSC Generation PE Associate - Anyone familiar?Anyone familiar with CSC Generation? Searched through the forums and couldn't find anything on them outside of a post from someone asking for help with a case study that sounded similar to the one they ask you to complete during the initial screening process. The firm appears to be relatively youn...
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TEDx Talk ... Five Practical ideas to Triple the size of the Indian EconomyDear Colleagues, Attached is my recent TEDx talk on five practical ideas to Triple the size of the Indian economy via the "CONSTRUCT INDIA MISSION" Link to TEDx Talk : **https://lnkd.in/ev4YArF** The Government of India has immediately reacted to the Presentation made to them and the TEDx Video ...
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Mental Deal FrameworksIn the world of VC/PE, you're expected to make quick decisions regarding how you can make money. To do that, it's important to have some mental deal frameworks handy. Would love folks to share some that they've got across the spectrum of asset classes they're investing in. I'll start: In the growt...
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MBB vs MM PEHigh guys. I got junior internship offers at an MBB consulting firm plus a middle market PE firm (AUM is btw 1-5 bil). I'm having a hard time making the decision of which to take; only have a couple of days left to decide. Personally, in the long run I want to be a corporate executive in the pharma ...
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When calculating DPO and DIH in Working Capital schedule, do you base that off of COGS, or COGS + D&A?I'm working through an exercise right now that lists COGS in an absolute dollar amount on the income statement, and lists D&A as a % of revenue. What I'm wondering is if you calculate Days Payable Outstanding and Days Inventory Held by using COGS, or COGS + D&A, and why? Thank you all VERY much a...
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GIC Direct Investment GroupCan anyone comment on GIC's PE division? How does it compare to other traditional LBO funds? Do they really only take minority stakes / co-invest? How would an associate role at GIC position you for other PE roles further down the line? Also, if anyone has insights on the interview process, would ap...
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How to get my foot in the door of Private EquityHi, all, I'm a freshman from a non-target school who is really interested in pursuing a career in private equity. I have had coffee/phone chats with people from sell-side firms. Generally, they advise me to get into an IB for a few years then go to PE... My first question is that, in your experien...
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2019 On-Cycle PE Recruiting: Headhunter RankingRecruited on-cycle in early December and signed with an upper MM buyout fund in NYC starting Summer 2019 (flagship fund size: $6-9 bn; AUM: $20-40 bn). Lazy Friday in the office and wanted to contribute here somehow - figured one helpful angle could be an update on the relevancy and efficacy of var...
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Eldridge Industries InterviewI got an interview invitation at Eldridge Industries second round. Anyone have any experience with this?? ...
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Cerberus Capital Management - Review - Private Equity-Pay is great -Exposure to deals -Monthly dessert day to celebrate birthdays -CEO of operating company is a great guy. -Culture is not great (can be a little old boys club) -Unclear how to get promoted -Very very few women...
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Maranon Capital Analyst Program?Does anyone have any insight into the Maranon Capital analyst or associate program? Saw them on an article on PEHub the other day. Seems like a solid shop that invests Senior, mezz, and equity. Not too sure of it’s reputation but seems to have an analyst program on the investment side, with majori...
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incorporating share buyback in entry multipleHi guys. Would like to seek your wisdom on hypothetical valuation case. Assume that sponsor buys 40% stake of the target at 250. The target has net cash of 200 and recorded LTM EBITDA of 50. The purchase price is fixed as this comes after negotiation with the seller. Right after the acquisition, t...
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"Walk me through a deal" for consultantsHi WSO, Though the "Walk me through a deal" question has been covered extensively for bankers, **how should consultants prepare to answer these questions? ** At my firm (MBB), we typically do not have access to much of the financial information (e.g., multiples, expected IRR, etc.) nor focus on ma...
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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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STOP obsessing about windows to jump thru for PE!!!Starting my rant.... I just got asked about career planning for the move from IBD to PE, yet again. I've a lot of sympathy for my fellow WSOers, really I do. But I've got to tell you stop obsessing about windows to jump to the buyside. Everyone always has some "rule" they'be heard of. Let me l...
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Any Info on Carlyle Energy Mezzanine?I know that they closed a $2.8bn fund in Oct. 2016 and invest across the cap stx in all areas of energy, but was wondering if anyone had any more specifics on them. Particularly, Comp? Group Size? Deal flow? Interview process? Thanks....
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How involved are MF associates in pulling interviewees into the screening process?One of my firm's clients is a MF but I work for folks who I don't think are the type to make an introduction for me if I told them I want to recruit for PE. I also have a family friend at the fund but I'm not sure they wouldn't just turn around and tell the folks I work for that I'm recruiting. I ...
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XPV Water Partners in Toronto ? a friend of mine recently told me about this company. https://www.xpvwaterpartners.com/ . seems pretty legit. anybody has any insights on the compensation, lifestyle and etc ? Thanks!...
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Mid-Market PE Firms pushing digitalization to manufacturing portfolio co's?Any PE firms interested in leveraging digitalization to manage manufacturing operational costs at portfolio co's, please give me a shout. Working with several PE firms including Industrial Opportunity Partners, Catalus Capital and their mid-market manufacturing portfolio co's now. Our customer ...
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PE Background Check For Series Registrations?Do PE firms’ background checks look into your series registrations or need a u-5? Also, what if they have since expired but they were listed on your resume still? Would it not make a difference if they don’t require them not being a bank?...
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anybody knows anything about PSP investments in Montreal ?just got an interview from PSP investments in Montreal for their Direct Private Equity team. This is for an internship. Anybody here can share any info on the interview process / tips ? Thanks a lot! ...
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How to raise a fund - what I know, and what I'm clueless aboutHey all, I enjoyed the AMA on furndraising before, so I thought I'd share what I've learned again, but also to ask for help because in fact there's a LOT I don't know about fundraising and can learn from you monkeys. **What I've Learned** * fundraising is 65% product, 25% market, 10% process. ...
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Insight on Denham Capital and Orion Mine Finance?Curious on comp, culture, etc. I know orion has been pretty active over the last year or two with the acquisition of dalradian, but hoping for insight from mining industry professionals or those that have worked at those funds...
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Stepstone Private Equity ? anybody knows anything about Stepstone private equity summer analyst positions in New York ? Do they do private equity fund investments or direct deals ? I don't see them on any buyouts lol. Thanks!...
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Bank Merger ModelAnyone from a FIG group have a scrubbed LBO model that could bum from them or swap them for some sexual favors much appreciated. ...
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Career in PE: MBA Finance or Master of Finance?Fresh graduate, currently have job offers from two firms: consulting business analyst in (think LEK/Parthenon/ATK/Accenture) vs S&T non-BB (think Nomura, Wells Fargo, HSBC). First option will allow me to have a better shot in MBA Fin, the other offer will allow me a better shot in MoF. Which would b...
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Clothing Choices - New HireI just accepted an offer at a well-known PE firm in NYC. I come from a very informal (tech) workplace where a polo shirt, jeans, and sneakers was the standard. I'm coming in as an AVP and I'm not a suit person at all. I start in about 3 weeks and it was made very clear that the new firm will be sui...
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Distressed vs. Credit vs. Special Situation vs. Turnaround PE What is the difference between all 4 types? I've been able to find a lot of PE funds with credit arms, but what are the big names in special situations and turnaround PE? Private Equity Strategies The following was originally posted by certified user @I Invest", a private equity associate, and has b...
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Platinum Equity - Interview - GeneralistHardest question I got asked was to look at three different companies and decide which would trade at the highest multiple. Other question that was unexpected was tell me on your resume a deal that you think is a good deal. Then once he finished, the interviewer said not tell me why we should never ...
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Choosing between entry paths into PEHi guys, I am at somewhat of a dilemma, and wanted to get some outside perspective into the decision I am facing. I am an European monkey about to graduate with Msc by the end of the year and want to land a upper MM (e.g. Bain Cap, Hellman & Friedman, Advent, EQT, Silver Lake) or a MF PE role few...
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Preparing for the buysideHello, I am currently a consultant (MBB) and have accepted an offer to join as a Pre-MBA associate for a lower middle market PE fund next summer. What do you you think is the best way to prepare for the modeling component for my new job? Since I am a consultant, this is what worries me the most; ...
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Recruitment Marketplace Startup – Input NeededI am currently conducting market research for a recruitment marketplace startup serving the finance industry. Our goal is to build a tool that actively finds professional opportunities for you. I am currently looking for feedback from finance professionals, to assess the greatest needs are and then...
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BlackRock - Review - Private EquityGood lifestyle with a culture that does not emphasize face time. Everyone is vested in each other’s success. . Location, depending on the type and nature of the work environment in which you like to work. Rolled up within a large organization. ...
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Africa RisingAfrica has received both positive and negative commentary, mostly negative as news outlets who unfortunately influence perspective in the west. Africa possesses a vibrant young population that has embraced technology, very learned populace and vast mineral deposits. An average of 4.5% GDP growth in ...
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MM Funds - On-Cycle vs. Off-CycleI'm currently an analyst at a MM, starting to plan for PE recruitment. I'm targeting LMM to MM funds approx. $250-$750m fund size. How many of these funds even recruit on-cycle? If they are mostly off-cycle, am I better off waiting another year to start fresh with recruiters, give my full effort, et...
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Altamont Capital - Interview - Strategy1st round: Why Altamont? What are you looking forward to the most? Where else are you looking at/in the process with? 2nd round: Very case-oriented. Explain possible reasons why top-line was constant while profitability decreased. It was very-open ended and each interview will differ depending on w...
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Sell services to PEHi Everyone, New at WSO and wanted input from qualified individuals in the PE world. I did a few searches and didn't found an answer, hence, this posting. So what is my product? I am an IT broker, meaning I am able to find you the best solution and the cheapest on the market for your infrastructur...
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TorquestInterested in PE in Canada and came across Torquest. Currently not a lot of information them. Any thoughts?...
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Are top PE opportunities really only for the super stars?Seems like this site really exaggerates the candidates who make it to the top MM and MF firms have to come from elite backgrounds, graduated top 5%, and worked at GS or Evercore. I see a lot of the guys at these top places don't always fit that profile, for those of you in the industry that work wit...
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Categorizations of debt in LBOIf a typical LBO has debt providers defined by the following levels: Revolver Term A Term B Senior Sub Mezz At what point does lien 2 start? Said another way, can Term A and B both be considered first lien? Then, would senior (whether secured or unsecured) be where the second lien starts? Or, is...
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China Investment Corporation - Interview - N/Athe topic in group interview: select the target for acquisition from two companies. only 2 among 8 candidates went to the next round in my group, quite fierce competition but little time for preparation actually as long as you reach a number, you will survive in this round The subsequent one-to-one...
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H.I.G. CapitalDoes anybody know anything about H.I.G out of Miami, Fl? I know they do a little of everything but I'm trying to find out, what are their strongest groups, how's the deal flow? ...
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I'm a VP in MM PE, ask me anythingI'm a VP in MM PE, ask me anything. Interview prep questions, industry questions, etc. etc. ...
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Working in REPE straight out of undergrad pigeonholing? ---delete-------------------------------------------------------------- ---delete--------------------------------------------------------------...
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LBO - Seller Note, how to model S&U and 3 Statements Took a model test recently, that included the transaction being funded with a 1.0x contingent seller note. this note is assumed to be paid out in full (at exit) if seller meets a certain ebitda target at exit, and is payed out at a certain % between a range of EBITDAs. Does this show up on S&U? Also...
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Why low multiples matter?Hi :) I am preparing interviews in private equity and I have a question. How come a company with a lowest valuation multiple ( say EBITDA for ex) will be more attractive that a company with a higher valuation multiple? I dont understand because multiple are relative.... So i dont see the point/l...
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Lateral or B-School?Hi all, I'm currently an associate going into his 3rd year at a MF in NY. I'm starting to think of next steps and am curious to hear the thought process of those who were on a "partner" track role who decided to go to B-School instead. What pros and cons did you weigh in making the decision? Did yo...
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Full Time Job PlacementHello, I am currently deciding between a few offers and would love any insight, and if anyone could share their progression in one of the roles. To give context, I am from ny and would love to start my career there. Long term I would like to be on the west coast and working in real estate pe or at a...
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Legal Cannabis InvestingHi All, I received an offer to join a Legal Cannabis-focused PE shop. The fund has ~$70mm of AUM currently, 4 Investment Professionals (3 Ex-Mega-Fund Partners and 1 Associate), and 5 portfolio companies. They're in talks with some big Anchor investors and in the process of closing their fundraise ...
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Private Debt/Direct Lending Exit Opps?Where do the majority of direct lending/mezz investment professionals go following their stint at their respective firms? Can they go to credit hedge funds or distressed debt funds? If anyone has any firsthand experience or know of others who have made the jump would love to hear ...
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Family Offices ListDoes anyone have access to or know how I can obtain a list of Family Offices in the US?...
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IMC Financial Markets - Interview - MarketsThey asked me to review a book on a lot of trades for a certain stock (although they wouldn't say what the stock was) and then make predictions for the stock based on the numbers. I was not expecting questions this closely applicable to trading; I was just expecting mental math/ probability. I would...
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PE, VC, IBD recommended reading list I've put together my fall reading list, thanks to kind advice from fellow WSOers. Sharing in case it's useful to you, or in case anyone wants to add some suggestions. **VC** * Venture Deals, by Brad Feld * From Zero to One, by Peter Thiel and Blake Masters * The New New Thing, by Michael Le...
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2019 Blackstone SA TimelineDoes anyone know when Blackstone is planning on opening their applications for the 2019 SA position? What does their timeline look like? ...
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PE recruiting 2020With recruiting season around the corner, I was wondering if people can help with the following: 1. When should we be reaching out and meeting with headhunters? 2. When should we expect actual interviews to kick off? 3. Who are the top 5-10 players in each of these categories (NYC only) -- Mega (>1...
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Apollo Global Management - Review - Leveraged FinanceGreat coworkers, smart people. Interesting problems and always willing to go in to difficult spaces and make deals . Long hours, limited ability to move up. Lower levels not typically included in structuring discussions....
Goldman Sachs - Review - Private EquityPro is working at Goldman and working with genuine people,developing the professional network, and increasing your skillset.. Some people find SLC a con of the job. If you like the outdoors, SLC is a great location to go to and not a con....
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Have PE recruiters reached out yet?What is the timeline for recruiting this year? I've seen CPI and Ratio reach out to people. What about the other headhunters? (SG, Dynamics etc.) ...
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Private Equity/ Private Investment Divisions - Minneapolis-St.Paul?I'm coming up on graduation May of 2019 and I'm trying to prepare for the fall recruiting season. Specifically trying to move to the Minneapolis - St. Paul area. Does anyone have any info on the private equity scene in the Twin Cities area? I'm aware of some firms like Norwest and Stone Arch Capita...
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Vista Equity Partners Analyst ProgramI'm doing an summer analyst internship at a MM bank right now. Me and a bunch of other people in my class got a blast email from a recruiter a VEP about summer networking events they're having in Chicago and NYC this month. I applied and (surprisingly) was invited. Does anyone know anything about V...
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Thoughts on Kayne AndersonWas looking for some thoughts on the firm and its different departments. Thanks....
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Does buyout PE offer better learning opportunities than VC for Pre-MBA associates?Happy New Year everyone! Currently a senior beginning to evaluate opportunities for after 2-3 years at an MBB. In regards to PE, it seems like the vast majority of people considering this path tend to focus on buyout PE versus Venture/Growth stage PE (based on what I have seen). Can anyone shed s...
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Sports Private EquityI had a thought the other day. Are there any firms that have invested in a sports team/franchise as say a 'portfolio company'? One example, although a bit different, is Elliot Management took control of historic Italian Football team AC Milan this summer after the past owner defaulted on the debt t...
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TPG Sixth StreetHello Monkeys, Does anyone have any background on TPG Sixth Street in SF? anything you can share would be very helpful. Thank you!...
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BNP Paribas - Review - Private EquityThe atmosphere in the company. The team was really nice and for a first work experience it was really rewarding to work in this kind of atmosphere.. As an intern, you can't have access to all the duties of the work (not meeting the clients, not taking part into some of the most important discussions...
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Thoughts on ZX VenturesAnyone heard of a firm called ZX Ventures? What are your thoughts on it? Anything helps, thanks in advance!...
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Starwood Capital Group - Review - Real EstateGreat pay, great culture, inspiring directors. The people are great to work with, alot of in-office dinners. So many hours, a lot of grunt work. To be fair, you make a lot of money and lots of prestige, so no one really cares...

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