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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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Building A Startup From Day 1 - The Documentary So I haven't been as active on these forums lately as I would like to be. I was first brought in for the finance and investment banking side, but stayed for the great acceptance for venture capital, sales and startups. I've worked for some top startup (largest funding round, company funded by the ...
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Corporate Tax Rate affecting Middle Market firmsHi just want to clarify a quick concept. Does the new corporate tax rate apply to the Middle Market firms a MM PE shop would buy? So now those firms should be more profitable, correct?...
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Clarion Capital InterviewDoes anyone have any info regarding Clarion Capital and their interview process? Any guidance or advice would be appreciated....
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Lateraling from LMM EU to US pre-MBA possible? Since graduating from a semi-target in the US 2 years back I've been working for a LMM fund in continental Europe. It's a small shop (...
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Just got laid off from my 3rd PE job in 4 years - help!I just got laid off from my 3rd PE job in just over 4 years (all MM). I am pretty devastated as I thought this was the one I was going to stay at for awhile. This time I was a VP (first two as Associate and Senior Associate), and was laid off after less than a year there. Last two PE firms were bout...
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Do you guys show economic returns on your CV?quick and dirty for this one - just like the title, do you guys list financial economic returns on your CV on complete transactions you've worked on? ie. Sale of portfolio company X - realized < >%IRR and < > MOI...
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Help with this Debt Schedule for Project FinanceHow do I go about this making a debt schedule given these sets of assumptions? _____________________________________________________________________________________________________________________ Financing Details A bank will provide a project finance loan of up to 60% of the total project cost. ...
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Credit Fund to PE: Doable?Say post-banking you find yourself in a ~5 BN credit fund that invests mostly in senior / mezz debt. How common or doable would it be to shift to a PE fund after a few years? I’d imagine the skill sets largely overlap (modeling / diligence, investment memos & committees). Clearly the credit invest...
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Valuation Services to Private EquityDoes anyone have any perspective on whether moving from Valuation Services to Private Equity is a doable move? I am interested to hear general perspectives but also specifically relating to the UK if possible, I know US/ Europe can sometimes work a little differently. How transferable are Valuation...
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Megafunds starting associates 6 months earlierTwo kids that I know from college (non ivy target, but they were top students in top groups) that graduated in May 2016 so 1.5 years total as analysts at BBs/EB's have recently updated their LinkedIn to "Associate at 'Megafund'" Is this a new trend that is happening?...
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PE networking: subtle or direct?Hi all. I’m a current MBB Analyst, and I’m currently trying to network my way into interviews at top PE funds. Primarily targeting alumni from my current firm and undergrad school. For those of you who are on the other side of this equation at PE funds or who have successfully networked in the...
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Company Review: Hamilton Lane - Hamilton Lane Full TimeI go through the recruiting process. People are nice and down to earth, but I have not started my work yet.. Not that I could think of. But the pay seems to be below industry average. But still, it is a solid place to start my career...
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Fortune 200 FP&A > Big 4 Financial/Strategy Consulting > Fortune 50 FP&A > Private Equity?(1 year, Financial Analyst) - Worked at a Fortune 200 company after graduation in Corp. Finance (budgeting, variance analysis, forecasting etc.) (1 year and some change, Senior Consultant) - Transitioned to a Big 4 firm, in management consulting (Financial Management/Strategy) - worked on some acqu...
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Looking for some articles on non-profit opportunistic real estate private equity (if it exists... example inside)If you take a look at Derwin Sisnett's Gestalt Project that's probably the closest example I can give. http://rethink.vc/community/ Is this common? I am looking for any articles you recommend about non-profit real estate development, with an interest in opportunistic investments in distressed asse...
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Best Practices for SA Prep — Nontarget undergrad made offer to PE MF Hey Monkeys, I've been wandering these forums for too long. I'm a junior at one of the Ivy League schools—not known for placing students straight into PE and its status as an "IBD target" is controversial on these forums—and was fortunately made a summer analyst offer at one of the megafunds (~...
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Goldman Sachs' Private Capital team (ESSG)Hey monkeys, What can you tell me about Goldman Sachs' Private Capital team, which sits within the European Special Situations Group? The analyst role/job type/culture/ anything really... it's quite tough to find tangible information on this team Have face-to-face interviews coming up, no modelli...
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Boston Search Group? Any info?Anyone know anything about this headhunter? Any advice in working with them? Looking to join one of the shops they represent...
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Company Interview: Cambridge Associates - Investment AnalystThe most difficult or unexpected questions asked was when we were asked to look at a series of portfolio compositions and choose which portfolio had the best risk return structure. This isn't similar to the normal decision making process because they put extra emphasis on the Sharpe ratio. Overall i...
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Reaching out to current AssociatesHi I received an interview via cold email to a higher up in a MM PE firm. Is it weird to reach out to the current associates now for interview advice? Would that be viewed negatively or positively?...
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((loydcarrison at yahoo dot com))Original IELTS certificate for sale ...- We only produce Real and IDP/BC verified IELTS Certificates - We do not produce fake IELTS certificates as they serve no purpose - We keep client information discreet and we do not share with any third party General support:: (( loydcarrison(at)yahoo(dot)com )) skype...
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Becoming operator for PE backed companiesI was wondering how one becomes a senior exec (CEO / CFO / COO) for a private equity backed company? Is business school a worthwhile step if the ultimate goal is to be an exec? Is spending time at a PE firm on the investing side a good use of time if the ultimate goal is to work on the operational s...
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Ares Direct Lending Hey guys, Curious to know if anyone knows about the group and what the role entails at the Associate level. Any color on interviews would be helpful too. Thanks in advance!...
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PE Interview Tricky Behavioral Questions - Need AdviceHey guys - long time reader but first time poster here - thanks to everyone for all that you do. I am currently an analyst in a MM M&A group. I have had a couple PE interviews with different MM firms and I have repeatedly got some questions that I didn't really know how to answer in a good way. I wa...
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Moving from McKinsey/Bain analyst to PE associateIf anyone has made this transition could they maybe share some insight into what the process was like relative to the standard IB -> PE recruiting path? Specifically, do most people recruit first or second year, would a banking internship right before you start significantly help your odds or potent...
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Modeling new tax lawHas anyone built a model incorporating the changes to the tax law they'd be willing to share? In particular, interested to see ways to approach the interest deduction limitation - disallowed deductions get carried forward so there will have to be some kind of schedule. ...
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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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Part-Time PE Internships in London - any opportunities? Could anyone come up with a few firms that offer part-time internships in PE (or maybe VC) in London? Right now, I only know of Better Capital that offers such an opportunity for students. Any other places you can think of? Thanks! ...
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Company Review: KKR (Kohlberg Kravis Roberts) - Growing place with good opportunitiesOverall company has a good culture and all the core businesses are growing fast. Additionally, the company is expanding into other asset classes successfully.. Some processes in the firm still seem hierarchical. Also the company hasn't grown as aggressively as it can in certain asset classes....
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Company Interview: castle capital - InternThe interviewer asked a lot about how much access I had to industry reports through my university, which was rather strange and led me to believe that this internship was a little sketchy. He also did not ask any technicals and told me much of the work was remote research leading me to believe that ...
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KKR Growth Recruiter?Keep getting messages from Parker Linton for KKR London (growth team) - anyone knows who does recruiting for their Menlo Park office? Think HSP does their out of banking recruiting but is it a different firm for their growth team?...
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Not having any Transaction experienceHi Have an interview coming up, and know that my lack of transaction experience is a question mark. Any ideas on how I can mitigate that during the interview? I was thinking of revising on my technical (learned from the WSO/BIWS modeling videos) and showing stories of how I can learn things, etc. ...
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Changing jobs once before going buyside after 2 years. Have an offer to interview with another consultancy.My goal was to move from my tier 2 consulting firm to a sector VC/PE fund after 2 years. I have made contacts at almost every fund I would like to one day work at, and they know where I work. Now, I have received a request to interview with an MBB (tier 1) consulting firm. They want to bring me on ...
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VC Analyst Seeking Help to Improve his Deal Flow Sourcing and follow-up'sHi, gentlemen! I currently work in a Brazilian VC fund and am responsible for our whole sourcing process. I have some tasks including: - Prospect new startups (not a problem) - Doing quarterly FUP's with startups that are not yet on our investment stage (takes much more time than I would like) - Co...
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Blackstone Ventures, any news on BX VC fund since 2017Q1 Earnings Call Comments?Title pretty much. I was wondering if Blackstone has started building out its team for the venture capital fund they mentioned on their 2017 Q1 Earnings call (alongside the Infrastructure fund they mentioned that they have started building out)? [https://www.axios.com/blackstone-is-expanding-into...
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Keeping up with PE / industry-specific newsHow do you guys keep up with PE news? Currently in banking (UK) but want to get some sort of daily alert / news email with regards to (European) PE news. The FT has a PE section - anything else you guys use or find helpful? Also I am interested in the healthcare and consumer sector - but I am curr...
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Terra Firma Graduate LondonHi all, I was wondering if anyone else has applied to the graduate programme at Terra Firma? If so what stages are everyone at in the process? Thanks...
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Leaving IB Before Recruiting for PEBeen at an elite boutique in M&A in a major city (not NYC) for about 2 years now. At first, I was interested in continuing on as an associate (my firm allows A to A), but I'm leaning towards PE now. Given hours, I find myself exhausted, with little time to prep for PE recruitment. I know people on t...
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Company Review: Apollo Global Management - Great exposure for a sophomore. Food provided every day. Breakfast lunch and dinner. Pay was great for living in the city and good exposure to senior management through weekly seminars. . Old office but the office just got moved after my summer. No intern events throughout the summer except one. Seemed like the front office intern...
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Thoughts on Terra Firma?What are everyone's thoughts on Terra Firma? Are they a strong/prestigious fund? If you had a choice to start out on their grad scheme in PE or join one of the top 3 tier 1 BBs (GS/MS/JPM) or a top tier 1 EB such as Lazard/Evercore/Centerview etc.. who would you go for? If your ultimate goal is PE....
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Exit opps from big tech corp strategy & relocating to EU#### Background I've been happily employed in a **good strategy role at a big tech company** for the last 2.5 years. The focus is on modelling, building and managing a pipeline of innovation initiatives to drive material shareholder value. Before that, I worked for 2 years at a **growth-stage sta...
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Abraaj Group Hiring ProcessDoes anyone know what their recruiting process is like? What's the timeline? Do they do the year and a half thing in advance like the north american mega funds? What's the best recruiters to use (if any)? Any information would be very helpful. Thanks All...
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Memory Repair Protocol A contemplation**Memory Repair Protocol** A contemplation rehearse includes having a solitary purpose of center, lessening any diversions. It includes calming the psyche prattle with the goal that we can go further into our own being. There are numerous types of reflections some are visual like concentrating on a ...
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Company Interview: Goldmark Advisers - tradercuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuckcuck...
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Company Review: The Abraaj Group - DisappointedInteresting markets and international people. Knowledgeable about the markets in which the firm operates.. Pay is low, lack understanding of how other PE firms work (too many people at this firm not in essential functions, hence too many mouths to feed)....
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PE Fund-of-funds......exit ops?Given the state of the economy, like many other recent MBA grads I find myself considering alternate career paths. I currently have an offer at a PE Fund-of-funds. The position involves investing in different GPs across the PE industry along with co-investments in portfolio companies. My main questi...
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BBH Private Equity Arm Hey guys, any thoughts on BBH Brown Brothers Harriman's PE arm? BBH Capital Partners? Size, Culture, and name in the Street. Thanks. ...
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Investing in Companies/Startups as part of B school story? Hi there, I am an Associate at a middle-market PE shop for reference. I am thinking about investing a nominal amount in publically-traded companies or startups as a way to a) follow the market and get a deeper understanding of the sectors I cover b) showcase my genuine strong interest in investing ...
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Company Interview: StepStone Group - AnalystNothing beyond basic knowledge of R programming and stocks. The most difficult part should be how to finish the exercise in a short time. Strong quantitative background would be good for you to answer questions. Unlike usual skills company needs in fin company, they mainly focus on R/Python rather t...
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Blackstone Portfolio Operations GroupCurrently at a BB AM division. Been looking at consulting-type jobs, and just found out about BX POG. Does anyone know what an analyst does there? Hope it opens up opportunities to look at various company operations, but the Analyst position description sounds like a big middle-office job without m...
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Management Consultancy to PEHey, I'm looking for some advice from the WSO community re. a move I'm thinking of making into PE A little bit about myself: - Currently a high-performing consultant at a boutique management consultancy, specialising in the energy sector (commercial strategy, market entry, cost reduction etc - p...
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The 411 on Impact InvestingAt the moment, my goal is to end up at an impact investing private equity firm. Does anyone have any experience with this or work in the industry? If so, could you tell me: - What firms are the big players in impact investing? - Where are said firms located? - How does recruiting work? Same as MF...
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Company Review: Fortress Investment Group - Great BrandBrand is really great. Everyone knows who you are. A lot of discretionary capital Deal flow Office location. Comp is reportedly low compared to peers. As much as half as much as what other firms might get you. No 360 reviews - this can lead to skewed outcomes. ...
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Wealth management over PEWealth management over PE, what could be the arguments? How to justify it? What's good about wealth management? thanks...
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Dallas PE Funds Opinions/Insights?It seems like a lot of the Dallas-based funds are kicking off their process for 2019 start associates. Anyone have any opinions/insight on the best funds in terms of dealflow, culture, returns, b-school etc.? Funds that I've seen include Insight, Trive, Kainos, CenterOak, Redbird, CIC, Gauge, Lonest...
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Co-Invest for Carried interest, what is reasonable?I have been offered a job as a PM/Director of a PE Fund with 200M AUM and looking to raise new Fund of 350AUM. I have been offered significant carry in new Fund of 20%. However I will need to contribute 20% of GP commitment of 1% of total raised capital (1% * 350 * 20% = 700k) as a co-invest in orde...
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IFM Infrastructure NYCHey all, Just wondering if anyone has any experience or knowledge in regards to IFM investors. In particular, i’m interested in any insight on their infra team in NY, but any experience or knowledge would be helpful. In particular, i’m interested in learning about the following: - what their i...
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BIG Ideas for India's Budget 2018 ... Unlocking US $ 1.24 Trillion of value trapped within Indian cities![BIG Ideas for Budget 2018 ... Unlocking US $ 1.24 Trillion of value trapped within Indian cities](https://www.linkedin.com/pulse/big-ideas-budget-2018-ulocking-us-124-trillion-within-puntambekar/) **Executive Summary :** The Budget proposal below is addressed to Mr. Arun Jaitley, India’s Fin...
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From IB to PE RE/InfraI have been at a top bbb for the past 2 years and I'm looking to move to PE real assets (RE and/or Infra). Since I am not in the RE or Infra group I have literally 0 related deal experience on my resume and was wondering what I should emphasise in my cover letter to counterbalance that. Hinting that...
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Company Review: Fulcrum Capital - Great cultureCulture is awesome, very good access to senior partner level management and good exposure to service providers and portfolio companies. Small team with few juniors which means there are less people in the same age group, minimal resources for assistance in terms or marketing etc...
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Do venture capital firms ever hire consultants? If so, what kinds of firms hire, and for what?My best guess is that if there are VCs that hire consultants, the ones who do so are the larger firms, and that they hire them to do due diligence on later stage companies. My second guess is that the larger firms hire consultants to do portfolio work, either for individual companies or for overall ...
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Was it a mistake? A confused Private Equity junior.I went through the typical path – top school / top BB IBD 2 yrs then I joined a PE earlier last year. I didn’t join a mega fund like most of my friends did – I joined a newly established PE founded by some very competitive and credible senior partners from some top mega fund, the shop they sta...
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Bregal PartnersDoes anyone have any information or insight into this firm? Are they an up and coming MM PE player? And how are they perceived overall? ...
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Private Equity EnergyHow different is a private equity fund specialized in energy from traditional PE funds? Do you use LBO as well? Do you value companies based on NAV with exploration, production and marketing parts? How does it work and what are your thoughts on that? Thanks...
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Blackstone Energy PartnersHi All, Does someone know the Blackstone Energy Partners team. Do you have any feedback to provide and recommendations for interviews? Thanks a lot!...
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Recent GMAT and B School InsightGents, Nearing the time I need to apply and go to bschool. I understand there have been similar posts, BUT given the nature of the GMAT, I feel anything on this subject older than a year is now dated. For those of us applying to b school and taking the GMAT I have a few questions: 1. Tips and tri...
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PE firms with Analyst PositionsMonkeys, Which PE firms have analyst positions? I know some MM shops do but I have heard the training is often inadequate. Whereas I have heard at some MM shops the training and experience is second to none with chances of promotion. Please let me know, thank you in advance!!!...
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Private Equity Recruiting Kicked Off?Heard this per head hunters / friends at various banks. Curious to hear what others have been hearing. Thanks...
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Experienced PE Associate Resume Examples/Advice?Does anyone have examples of what an experienced PE Associate's resume looks like? Can't find much information on the topic on WSO or elsewhere, and I'm planning on updating my resume to reflect my first 6 months in PE (might consider passively recruiting if good opps come along, so getting a curren...
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Private Debt PEWhat is the compensation, lifestyle, and work load of people who work at a PE firm in their private debt arm? I'd assume doing private debt at TPG or Bain etc is less prestigious and pays worse than actually closing on private equity deals. Would most ppl here even prefer a MM shop over doing privat...
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Company Review: Advent International Corporation - Good oportunity- High degree of freedom to create value on portfolio companies - High exposure to senior staff, both in portfolio companies and fund. - Long hours, often because of senior staff insecurity - High politics on the portfolio companies side...
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Chicago PE shops. Apollo? Ares?I am currently in IB in an energy group, but looking to move to Chicago when i jump to PE. On Apollo's website, they have Chicago listed as one of their offices, but on linkedin / WSO there's no trace of them. Is the Chicago office of Apollo mostly support / administrative roles? Suggested alternati...
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Can PE Internship help with Job hunt?Hey all, I've been browsing WSO for quite a while and it's definitely helped me out a bunch so far but i haven't found any forums in regards to how to fully leverage a PE internship. Background Info: I go to a semi-target school, Senior finishing up final semester with Economics degree, starting ou...
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Pitchbook vs Mergr/Low Cost AlternativesI work for a family office PE firm and have been tasked with looking for a database with comps on the deals we close in the 10 - 50 Mil EV range. I've narrowed it down to Pitchbook and a low cost provider called Mergr. Are you all aware of any other low cost alternatives to Pitchbook? Their products...
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Leaving banking early?Hi all, I am doing IB at a BB and I received a private equity offer for 2019 during on cycle recruiting, and they gave me the option to start earlier in 2019 (January/Feb). I was wondering how leaving banking early (instead of staying my full two years until the summer of 2019) is viewed? Down the ...
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Pre-MBA VC salaryWhat is typical pre-MBA compensation at a VC firm in a major market (e.g. SF, NYC) after two years of IB or consulting? I've heard the total comp is lower than PE, but looking for information about typical base salary, bonus, and carry ranges. ...
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What will happen to PE compensation once Trump reclassifies carried interest as regular income?Trump has said many times along the campaign trail that he intends to close this "loophole," though his cabinet appointees so far would suggest otherwise. However, it will be difficult to cut taxes to the levels in his proposals without closing off a good number of deductions and preferential tax r...
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Company Interview: StepStone Group - StepStone"Tell me a time when you have to deal with time conflict or a very urgent deadline" I told them I am usually good at this kind of pressure. To me it is all about time management. When assigned a lot of tasks to do - I would list everything on my calendar, have a think about how to prioritize and the...
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BB IB --> Growth Equity --> ?-delete- -------------------------------------------------------------------------------------------...
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Small firm premiumHi, Working at a Belgium family office, investing in SMEs. Right now I am working on a valuation model and looking for some literature to back my small firm premium (i.e. Duff & Phelps - Guide to cost of capital) which can be added to the CAPM. Can somebody help me out? Many thanks....
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Thoughts on Gilde Buy OutWhat are everyone's thoughts on Gilde Buy Out? What is their reputation and how good would they be in mentoring their juniors? Want to see if this is the right place to start within PE in the Netherlands. ...
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Company Review: Silicon Valley Bank - SVB - Great lens into venture but not without its flawsGreat place to cut your teeth in Venture. Lots of smart people who are interested in venture and great access to world-class clients with tangible impact right away at associate/analyst level.. Comp is low relative to geography and market and it can get overly political. Experiencing growing pains...
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Net worth of Private Equity associatesSo I graduated from a target in 2012 (no debt), immediately joined a BB in 2012, and made the transition to PE in 2015. My net worth today (I always calculate it the first of the year), is 263,000. Is this above or below average? What is your career track so far and net worth?...
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LBO modelling and PE interview prep resourcesHi all I was wondering if anyone had any recommendations for potential sources/courses that I can use to learn how to build an LBO from scratch myself and any sources for PE interview prep work that are relatively cheap, I'm a broke student in need. Thanks!...
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PE and IB Paid Advice and Lessons / TutoringHey everyone, I am a VP at a PE shop that focuses on infrastructure (renewable energy, power, utilities, etc) and am thinking of starting my own online advisory and tutoring business for both: 1) students interesting in the IB and PE businesses and 2) current junior bankers who need information or ...
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Equity financing and post-blockbuster-LBOI don't know deal count or a lot of specifics around stats for equity financings. But with growth equity becoming more popular, lots of non-LBO PE moves recently, and this cap on interest deductibility in the tax plan, what does the PE world have to say about the equity financings/deals happening in...

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