GIC External Managers Department
Does anyone know anything about GIC's External Managers Department and whether it is a first good gig out of college? Also, is this considered a FO Investing job or more like some MO / BO role?
All it says on GIC's site about the External Managers Dept is the following:
- The External Managers Department is GIC’s internal investment function where we also award investment directives to external fund managers whose ability complements our own capabilities.
Thanks!
Yes this is a front office role. (there was a good rant on this forum on FO/MO/BO you should read)
This role is picking PE managers in line with GIC’s investment strategy. Combination of qualitative and quantitative work. Lifestyle should be better than a direct PE role, comp lower. Ability to move into a direct PE role is very low from this type of role.
A traditional IB role at a well recognized bank would be preferable to taking a role like this.
Thanks for your response! It was very helpful. Do you know what type of exit opps would be possible from this type of role?
My only options at this time is a BB ABL credit underwriting role and a big 3 credit rating agency for a credit analyst role given that I didn’t get a ib return and couldn’t find a full time gig.
Would you say that the GIC gig is better than the other alternative options that I have or would it be preferable to choose one of the other options for better exit opps?
Thanks so much!
Rating Agency Credit Analyst > BB ABL > GIC
Tough for me to see how someone will learn technical skills at the GIC role. Atleast at the other two you are picking up tangible skills that will be helpful in a direct investing role and will make the transition easier to better options — credit research at BB/Insure Co./HF or ABL to LevFin or network your way into equity investing (slightly harder)
Exit opps for Primaries teams, which leverages fund underwriting and network skills, are probably working for a FOF, IR for a fund, and placement roles.
Agree with the other poster that it is important to develop a good technical base unless you know for sure you want to do primary investing.
Can you develop a good technical base in secondary or coinvesting?
The technical aspects of this role are more on legal contracts. At a traditional GP role, the MDs and their lawyers are usually deal with this.
Modeling skills will be pretty light. Secondaries CF modeling of capital calls, exits and a discount rate to solve your IRR target. Co-invest, the model is provided by the GP. If you are doing genuine direct PE investments as an LP then you would build the model.
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