Advice Wanted - Career Shaping Up Weird
I recently joined a PE fund as an Intern and the fund has a good track record of offering full time roles to interns. I got the role through networking and my role is very nascent- it is a new role. Instead of getting exposed to live deals, I am focused more on doing high level research on name of interest with very limited information available. Deliverables include emails to seniors with a high level recommendation on if it makes sense to invest in the business relative to our fund’s strategy. I assess the business model and characteristics that make it a good buyout candidate or not. My role is not focused on financial analysis, it more focused on understanding business models and speaking with industry professionals to learn more about it if it is of initial interest. While I do enjoy the role, I am a bit concerned that I am missing out on financial analysis and deal exposure. For instance, I do not build models or work on power points. My role is more focused on looking at a business using whatever publicly available information and then doing short recommendation on if it makes sense for us to go knee deep in it. It is more origination oriented than execution oriented. I would really appreciate some advice from PE professionals on how useful this exposure is? I have previously interned in Investment Banking and very much enjoyed working on live M&A mandates.
I don't follow your question. This is literally exactly what PE interns often do (sourcing/screening work), and it sounds like you're actually pretty fortunate to have landed the opportunity.
If your question is whether you should go straight to PE for full-time, that's an individual decision, though I personally think the training from IB is worthwhile and trumps getting a headstart on PE through an analyst program.
Some interns in my fund are working on live deals and that’s what they focus on. I focus on sourcing / originating and from my understanding my role will not eventually translate into deal execution. It will remain focused on bringing in deals as opposed to executing them. Don’t get me wrong, I do like the work that I do, I just feel like I will end up missing out on more financially analytical experience / live deal experience in future
Ah got it. Was it clear when you were hired that you were onboarded to a separate business development team?
What year are you? Can you just do a banking internship next summer?
Whats the overall vibe you get from the team etc.
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