Energy Private Equity Questions From a Product Banking Analyst

I currently work in a product group - I spend 100% of my time on energy deals (upstream, midstream, and infra) but don't actually hold the pen on the operating model / comps. I am extremely interested in upstream energy private equity for a variety of reasons - chief among them is that I believe in and am passionate about the future of the industry and think there's good opportunity there. I would also consider another buyside role but like the idea of working directly with portfolio companies. 

My first question is given my background is not in traditional energy investment banking but rather a product group working only on energy deals, will my resume even get looked at by any upstream PE shops? I can't imagine Quantum or Carnelian will look at it, but I'm hoping some smaller shops may be willing to take a chance. However, I can also see the answer being that I will just have to go to an energy IB shop for an additional two years of banking following my analyst tenure at my current shop - while this greatly depresses me, I recognize it may be the only path.  

My next question would be as far as the recruiting process goes, does anyone have any further context on what the logistics or timing look like? Anything related to headhunters to contact or tips for getting my name out there would be extremely helpful.

Finally, as it relates to preparing for the recruiting process itself, would anyone be able to point me in the direction of a single-well template that I could practice on (or any other technical resources that are important for the process?) Through some networking calls, I've been told this an absolute need-to-know for the process, so even if it's a simple one-sheet excel, I'd greatly appreciate it. Also, any high-level overview of the questions asked during the process would also go a long way for me.

Thank you!

3 Comments
 

Based on the most helpful WSO content, here are some insights and advice for your situation:

Resume Consideration for Upstream PE Shops

  • Background in Product Group: While your experience is in a product group focusing on energy deals, it may still be valuable to upstream PE shops, especially smaller ones. Highlight your energy deal experience and any relevant skills you have developed.
  • Networking: Reach out to friends in other groups to gather prep materials and practice models. This can help bolster your resume and interview preparation.
  • Additional Banking Experience: If you find it challenging to get noticed by top PE shops like Quantum or Carnelian, consider gaining additional experience at an energy IB shop. This could enhance your profile and make you a more competitive candidate.

Recruiting Process Logistics and Timing

  • Headhunters: Take headhunter intro meetings seriously. They can provide valuable insights and connections. Keep track of your interactions and applications using an organized system, such as an Excel spreadsheet.
  • Networking: Craft a concise and effective networking email template. Always attach your resume and follow up with thank you notes and periodic updates to maintain relationships.

Preparation for the Recruiting Process

  • Technical Resources: Practice with single-well templates and other technical models. Reach out to your network to obtain these resources. Having a solid understanding of LBOs and being able to walk through case studies is crucial.
  • Interview Questions: Prepare for both technical and behavioral questions. Think about what creates value in an LBO (e.g., revenue growth) and be ready to discuss your deal experience in detail. Tailor your resume for different opportunities and be prepared to discuss your process and results.

Additional Tips

  • Stay Organized: Keep track of all your resources, documents, and interactions to ensure you are moving in the right direction.
  • Be Genuine: While technical preparation is important, being a real, normal person is equally crucial. Show your passion for the industry and your genuine interest in the roles you are applying for.

For more detailed advice and resources, you can refer to the following threads on WSO: - https://www.wallstreetoasis.com/forum/private-equity/my-pe-recruiting-p…</a">My PE Recruiting Process - https://www.wallstreetoasis.com/forum/private-equity/my-private-equity-…</a">My Private Equity Recruiting Process

Good luck with your recruiting process!

Sources: My Private Equity Recruiting Process, Advice on HF Recruiting, Non-Target Recruiting Guide Part I: Resume and Networking, Recruiting is straightforward?, My PE Recruiting Process

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

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