I currently work in the investment team of a growth equity shop that makes 20-30% minority investments in FinTech start-ups.
I find the investment process really interesting and love the DD aspect of my role but I never feel I'm actually getting my hands dirty. I think my dream job would be to work for a buy-improve-sell private equity firm so that I'd be able to get into the weeds of the business while actually running it rather than just in the investment decision.
Would love to hear any advice on what type of jobs/firms might be good for this and whether it is possible to make the jump from growth equity into whatever this might be!
Cheers!
Tech buyout has a stronger focus on operational improvement. Although of course given the nature of the strategy you'd only be looking at more traditional software vs. the flashy names pure growth equity tends to look at.
The grass is always greener on the other side. At an associate level, Buy - Improve - Sell doesn’t usually mean designing new strategies or helping to shape the success of the business, it means building out the reporting pack, figuring out why cash is missing, figuring out why X segment is falling apart etc. All general corporate FP&A work with PE managers. If you want to work on a turnaround story, feel the better place to do that is working for the company.
I second this. Working on a turnaround tech deal can be a major pain in the ass, particularly if the finance team is weak. At times you’ll feel like a bean counter for your portco. There’s also interesting aspects of portco work, but I found it is rarely as strategic as it may initially sound
Thank you this is all very insightful!
Alternatively, there are consulting groups out there hired for performance improvement at portfolio companies. Look at Alvarez & Marsal's PEPI group. They hire many ex-PE folks to staff their teams.
It's the minority stakes. Look for firms that take majority or 100% stakes
If you want to get your hands dirty, find a girl who likes thai food and invite her to take the pink train express
Join an operating team @ a PE firm with one. Lots of industry specific MM size funds have them.
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