Currently interning at a BB in NY, and have a superday this weekend with Bregal Partners for full time 2023. Does anyone have any experience or insight with them as a firm, or their superday process? Any insight would be greatly appreciated!
Trending Content
Career Resources
Bump
When did you apply, waiting to hear back
This one threw me off a bit cause I started as an analyst at a firm similar to Bregal (actually a bit bigger, a lot of Bregal people exited to my firm) and I never would’ve thought a BB kid would’ve entertained the idea of switching over to MM PE. Just left that firm for a UMM, but happy to impart whatever I know about the interview process at my firm, can’t imagine it’s much different.
Interested, can you share?
Yeah so in general MM PE analyst interviews will focus on LBO and Debt mechanics for the technicals and largely ignore those multi step accounting questions that you might’ve prepared for during banking. Especially if you already have some experience doing banking at a reputable firm no one is going to care about your accounting skills. Prep for those is just going to be your general guide questions, when I used to interview kids I’d literally pull shit off the BIWS LBO guides.
You’ll get asked about any deals you’ve worked on, the current state of the financing markets, state of the industries that Bregal specializes in, maybe have a sense of leverage reads for the industries they invest in. Some of these might be a bit too niche but for a strong interviewee I would say all those questions are fair game and while I wouldn’t expect perfect answers having a good sense of the markets is expected.
That being said, I still would be surprised if the majority of your interviews weren’t behavioral, especially at the superday stage. The whole point of these MM PE analyst programs is to get kids interested in investing, and if they can’t nail technicals perfectly that’s fine because we can teach anyone how to walk from EBITDA to FCF, the job isn’t rocket science. So have a good story, a reason why you want to leave banking, a reason why Bregal is the place you want to start your career and you’ll be fine. Also know the companies Bregal owns and have like a general idea of what each of them do: I cannot even count the number of kids I’ve interviewed who couldn’t name a single Port Co on our website, it instantly cuts your credibility if you’re harping about how much you love the firm for 20 minutes and then fall flat here.
What made you want to leave your MM shop for an UMM firm?
I think its because there was a fundamental disconnect with where I wanted to go vs. where the firm was going. I'm pretty ambitious (as are most people in this industry) and you can only do so much when you're investing out of a $2-3 billion fund and we'd constantly have deals come across where we'd need a $700M - 1B equity check. For obvious risk management reasons the firm can't take that on that entire amount and co-investing was hit or miss and we lost out on some bids because the firm couldn't raise enough capital. That being said, I really like their investing style which is why the UMM I joined is a firm we regularly co-invested with and I've been working with people here since I finished undergrad (that also made the lateral process really easy). Maybe one day I'll go back, but I'm 24 and wanted to see how the game is played in the big leagues.
How many interviews did you have before the superday?
I had 2 before the superday, how about you?
Ive had three but haven't heard anything about the superday
Illum et ab eum laboriosam iure sit commodi. Culpa perferendis excepturi ipsa aliquam qui nihil. Facilis ipsam officiis fugiat illum. Id sint voluptatem sunt.
Libero vero beatae in enim. Voluptatem incidunt quaerat facilis dignissimos ratione.
Sed quas sapiente magni quisquam. Praesentium est iure possimus delectus eaque totam vel. Qui rerum perspiciatis ut. Harum quam voluptatum eveniet occaecati sed quam. Eligendi consequatur quia laborum quaerat itaque enim. Quisquam molestiae voluptatibus accusamus doloribus incidunt optio doloribus. Qui animi sint consequatur.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...