Infrastructure Private Equity
I was hoping to hear about some alternative paths to infrastructure private equity outside of the typical 2 year IB analyst window. Does an infrastructure project financing role on the sell-side help make that leap or do you have to sort of hop into an IB associate role along the way? Other thoughts on the matter appreciated
Bump, interested as well.
Edit: Anecdotally, I looked up the backgrounds of some analysts/associates at some infra investors (mostly pension funds, World Bank/IFC, and some insurers), and almost all had previous experience at a BB or similar working in project finance lending/advisory.
Depends fund size, reputation, geographic location.
I find that, in my region at least, that intrastructure PE funds are alot more forgiving in terms of hiring outside of IB compared to corporate PE.
Paths that I have seen into Infra PE are: - Project Finance from Commercial banks - Infrastructure/Project finance lawyers - Corporate Finance/M&A at Infrastructure corporates/developers - Big 4 Modelling/Valuations (infra pe funds love the modelling skillset at Analyst level as infra models are very modelling intensive) - In the rare case have also seen engineers transition over
Sorry about the later response here. My response will be UK focussed, but you can get very good paid training cources from specialist PF model advisory shops like DWPF, Operis, Corality & the big 4. These are quite expensive, but there is some decent free materials online on the following sites:
1. Ed Bodmer: https://edbodmer.com/project-finance/
This guy's website is insanely useful, he basically gives a 101 including videos of everything there is to know about building PF models.
2. Corality: https://financialmodelling.mazars.com/online-resources/tutorials/
Lots of useful blogs about specific PF issues, very very useful.
I can share some materials with you too, just drop me a PM