Infra PE recruiting / prep
Anyone have experience with Infra PE recruiting? What sources/guides did you use? Trying to figure this all out before HHs start reaching out.
Thanks!
Anyone have experience with Infra PE recruiting? What sources/guides did you use? Trying to figure this all out before HHs start reaching out.
Thanks!
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What is your background? If you are an infra banker, your preparation would look really different vs. if you work in another sector. I switched from REPE and did the following:
Note I'm based in Europe so recruiting here is much less structured than in the US. I actually got one offer through a HH but accepted an offer from a firm that I contacted myself.
Expect infra interviews to be similar to corporate interviews. Infra PE funds have mandates to do corporate buyouts and they can and do compete in the same processes as traditional PE. A lot of the time they’re looking at classic LBOs acquiring 100% of the equity. There can be more infra-specific structuring, especially around midstream and some more real-estate-ish debt structures around data centers for example. But at the end of the day, it’s buying cash flow entities and selling them for IRRs. Returns targets generally lower, but top infra funds like GIP produce some crazy good returns (25%+ IRR) with enormous funds.