IB AN1 -> PE AN2 recruiting

Based on previous WSO threads, here's what you need to know about IB to PE recruiting at the analyst level:

1. Recruitment Process:

   • Headhunters: Most candidates from BB or EB banks get connected to headhunters like CPI and HSP. The first step is impressing these headhunters.
   • Fund Screening: After headhunters, the next step is getting through the fund's screening process.
   • Interview Performance: Once you make it to the interview stage, performance is crucial. Top firms like KKR, GTCR, Apax, SLP, and WP London have been known to poach analysts from IB to join their analyst programs.

2. On-Cycle vs. Off-Cycle:

   • On-Cycle Recruiting: This is a structured process where recruiting kicks off at a specific time, and candidates need to be prepared for intense competition.
   • Off-Cycle Recruiting: This is less structured and can happen at any time, but the process remains similar in terms of impressing headhunters and performing well in interviews.

3. Specific Firms:

   • KKR, GTCR, Apax, SLP, WP London: These firms have been noted for recruiting IB analysts to join their analyst programs as AN2s. This indicates a trend where top PE firms are willing to bring in talent at the analyst level, not just at the associate level.

For more detailed advice and personal experiences, you can refer to the WSO forum thread titled "Advice for undergrads going into IB interested in PE" available at the following URL: [https://www.wallstreetoasis.com/forum/investment-banking/advice-for-und…).

Sources: Advice for undergrads going into IB interested in PE, https://www.wallstreetoasis.com/forum/investment-banking/advice-for-undergrads-going-into-ib-interested-in-pe?customgpt=1, Does anyone have insight into what it is like to recruit from a newer boutique (Liontree, Dyal, M Klein, etc.)?, Confessions of a former second year IB Analyst, Confessions of a former second year IB Analyst