How Do You Train PE Juniors When Banks Do All the Modelling?
I work at a mid-market PE fund where, a couple of years ago, we made the decision to only hire graduates or Analysts from our internship programme, rather than hiring Associates externally.
As we now typically have a financial adviser on each deal, I feel that our juniors are not developing enough modelling and analytical skills, as a lot of this work gets delegated to the banks. At the same time, they don't yet have enough experience to properly review or take full ownership of this work, as they have never really got their hands dirty doing it themselves.
How do you make sure this doesn't happen? Not having an FA involved would be inefficient, so that doesn't feel like the right solution. I also don't think hiring only very junior Analysts is the most effective setup for us, but there is not much we can do about that, as hiring Associates from banks is simply too expensive.
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