I'm working in Equity Research at a BB (MS/GS/JPM) for my summer analyst stint in the coming summer. As time progresses, I am realizing more and more that I could enjoy PE/VC down the road. I do have a passion for public markets but the opportunity in earlier stage PE or VC is exciting and is something that i do not want to rule out in the future.
I just want to know if you ever see anyone make this transition and if they do, how did they? ER -> IB -> PE or does the direct jump from public to private happen?
I've seen it happen. The hiring was very strategic in nature as the ER person has industry expertise in a particular sector that the PE firm was focusing in. Unfortunately, the role has veered towards more operational work for portfolio companies vs deal evaluation/execution.
Not common. But sure it could happen. Like the above poster, if you specialize and focus on a certain sector that a PE or VC firm is really focused on, it could make sense.
Agree with the above two. I’ve seen ER guys jump to sector specific PE funds.
Any chance you guys can clarify what the sector focus was? Was it something fairly esoteric like financials, oil & gas, etc?
Let's say you covered ecommerce or marketplaces. Or video games, esports. Or fintech.
Private Equity - Possible to transfer from ER to PE? (Originally Posted: 10/27/2012)
Is it possible to transfer from equity research into private equity?
I think it's more common to go from ER to hedge funds?
If you are looking to go into growth PE, ER gives you better exit ops. If you're looking to move into a buyout fund, banking is the clear way forward, as deal experience makes a difference. If you're looking to go into special situations or distressed debt funds, you're better off starting in restructuring.
Yes.
I haven't seen this yet but another poster has stated that ER > HF is more likely. Private equity is very transaction/execution oriented, which fits bankers and even consultants since the former transacts and the latter knows which sector/area to transact in.
Equity research is a bit of a different animal but anything can happen. At very small PE shops you'll see that not everyone did a traditional route.
This
Would a CPA be attractive to a PE firm?
Yes to small shit shops the mega funds want bankers only
LOL
ER to PE (Originally Posted: 01/31/2017)
Hi guys, I have an interview with a tier 1 PE firm coming up and hope to get some advice over here. I come from a background in equity research, what would be the best way to position myself and explain my interest in private equity?
Thanks!
Have you had the interview yet? How did it go? In ER myself and would like to transfer to PE. I just came out of a process where I was ranked 2nd among 300 applicants and didn't get the offer, only because the 1st guy came from another PE house. They claimed we did equally well in the interviews and on the cases, but went with him due to being a small team and his CV would look better for potential investors/targets.
Equity Research to Infrastructure & Natural Resources Private Equity Team? (Originally Posted: 03/20/2018)
Hi Everyone!
I have an interview in the coming days with a well respected Canadian Pension Plan for its Natural Resources & Infrastructure group. I am coming from almost 2 years of Equity Research Experience in Mining. I have spoken to a few members of the group and they like my background.
If anyone has any insight, could you possibly fill me in on what the full transition would look like? Reading and Writing are the aspects of being in research I like the most, and I have been told I won't be doing much of that at a pension. Conversely, Research isn't really a place I'd like to be in next year because the long-term career prospects look very dim with MFIID II.
Any advice is greatly appreciated! Thanks!
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