I’m currently a second year in IB in an industry coverage group, and I’ll be starting in PE this summer as an associate at an upper middle market industrials team. I currently have very little knowledge of industrials and want to get sharp on the major players (both investors and companies), business models, and anything industry specific I can learn. I understand that most of my learning will happen on the desk, but I’d appreciate it if anyone has thoughts on how to best become informed.
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Bump as I'm also very curious
Worked in industrials PE without being in an industrials specific IB group - honestly you don't really need to do that much prep in advance, you'll pick it up along the way. If you do want to try to learn about industrials businesses broadly before starting, reading some initiating coverage reports on larger companies like Danaher, GE, Honeywell, etc. would probably be helpful
Not trying to hate but how did you get an offer into an industrials specific group without industry knowledge? Did you not get asked about this during the process? (e.g., Why industrials?)
I did on-cycle and traditional PE recruiting out of IB. If you are in any strong IB group that holds its own pen on models and is an EBITDA-based industry (Consumer, Tech, Industrials, Consumer, Healthcare, Business Services, etc) you can recruit into PE groups that do any of those aforementioned industries. In my experience it’s only certain Tech or HC focused funds that will prioritize those backgrounds.
have a few primers, feel free to pm
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