Big 4 infra financial advisory in Japan —> Infra fund
Hi everyone,
I currently work in the Corporate Finance department of a Big 4 firm in Japan, focusing on infrastructure financial advisory, with an emphasis on renewable energy projects. My role involves financial modeling, deal structuring, and related tasks, and mainly help Japanese buyer to acquire renewable energy projects in Southeast Asia.
The first question: I want to transition to a global infrastructure fund. Is this transition realistic given my current Big 4 background? Or would I need to go to IBD first to increase my chances of making the move?
The second question: I suppose Singapore and Hong Kong are the key hubs for infrastructure investment jobs in Asia. How do Mainland China and Japan compare in terms of opportunities in this field? Is there significant demand for infrastructure investment professionals in these markets?
Any advice or information based on your experience would be incredibly helpful!
Based on the most helpful WSO content, here are insights to your questions:
Transition to a Global Infrastructure Fund
Opportunities in Infrastructure Investment in Asia
Additional Insights
For more detailed discussions and personal experiences, you can refer to the following threads on Wall Street Oasis: - https://www.wallstreetoasis.com/forum/investment-banking/the-future-of-…</a">The future of Hong Kong high finance - https://www.wallstreetoasis.com/forum/hedge-fund/qa-2nd-year-equities-l…</a">Q&A: 2nd Year Equities L/S HF Analyst in Hong Kong
These threads provide valuable insights into the regional differences and the evolving landscape of finance in Asia.
Sources: The future of Hong Kong high finance, Q&A: Megafund Asia Private Equity, Q&A: Management Consultant and Value Investor, The future of Hong Kong high finance, Q&A: 2nd Year Equities L/S HF Analyst in Hong Kong
I would recommend doing a stint in IBD first, perhaps in a smaller boutique such as BDA (I have heard that some people there exited to infra PE) or a top Japanese firm (Nomura has a dedicated M&A team, Mizuho has a team that covers healthcare, materials, energy and chemicals).
Thanks for the advice, it really helps! I know IBD is usually prioritized over Big 4 financial advisory in corporate finance M&A, but does that also hold true for infra and energy M&A? I feel like those sectors are pretty different from industries like healthcare or manufacturing.
Do you think Big 4 advisory might have better chances in infra and energy M&A because it's a more niche area?
Looking forward to hearing your thoughts!
Happy to help!
The point you mentioned about energy & infra does seem true in my view as well, and I would think that your chances of breaking into PE could be higher than for generalist funds where an IBD background is strongly favored.
Your English also seems much, much better than that of the average joe working in finance in Tokyo, which would be a big advantage.
That being said, the rest should be highly dependent on what size the firm you are applying to is, and their hiring history. In my experience, larger cap American and non-Japanese Asian funds seem to strongly favor candidates with an IBD background, and in that case competing against those from American banks could be quite difficult, especially if the fund has had good experiences hiring from these firms.
Then again there are always exceptions, so it could be wise to discuss these with a third party. Do you know anyone from your firm who went into PE? Have you discussed opportunities with other agents from other firms looking at PE/IBD to get a third party opinion (the agents who are helping you right now may be a little biased since they get paid if you get an offer from a firm they referred you to...)? I would also recommend seriously considering applying to IBD just in case, as having done a stint in IBD, even for 2 years, will definitely expand your long term options.
Sorry for not being the most helpful, but hope I still managed to be of some help!
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