Is this normal for PortCo work? Seems crazy
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This seems super excessive. Think for my portcos, what I'd do is help (not do, but definitely input) into points 1, 3, and 5 (for senior leaders only). I'd also spend time with the M&A team.
Did you join a very low deal volume shop? This isn't great for someone at the start of their career. You want as many reps as possible.
This frankly sounds insane. Is this normal at your fund or is it all just this one crazy principal? You should be somewhat involved / oversee most of these things but every one should be owned by the portco management team, especially for a scaled asset like that.
Agreed, this is totally insane. This should all be "done" by the portco with some oversight and input by you and the sponsor team. For reference, I'm on the Corp Dev team of a large PE-owned business (a bit larger ~$350M EBITDA), and with a 4-person Corp Dev team, we are generally responsible for creating all BOD materials with C-Suite/BOD input, and generally supporting some of the other initiatives you described.
Management should be able to draft their own talking points. This sounds like you are effectively writing them a script just for them to read it back to you. If they cannot communicate effectively with their own BOD about the business they are running on a daily basis, they should not be C-Suite.
Marketing materials should be prepared by the marketing org. If the sales org does not have the resources to effectively pitch large national accounts, this is a staffing issue and needs to be corrected.
Hiring should be done by HR, with some BOD input for key / executive hires. If they do not have the skillset to source key hires, you need to retain a headhunter for these roles.
Budgeting should be driven by the CFO (supported by business unit leaders and FP&A org), with some direction and input on your part.
FP&A needs to own weekly updates and reporting, with some initial direction by you on what is needed/expected of them.
Sounds like your principal is treating you like an outsourced portco resource. Maybe there isn't enough dealflow to keep you busy, but unless this level of portco engagement was highlighted in the hiring process, I can't imagine this is what you signed up for, and you should communicate that and potentially raise issue around resourcing needs at the portco level.
Your value add should be around strategy, capital markets and M&A (or other major capital allocation decisions)
Definitely not normal, is this the case for other associates as well or just you
We have portcos an extreme fraction the size of the one you just mentioned and I don't do 85% of what you just described...
Chrikey. This is wild
Hopefully you financed with private credit because this is debt you DO NOT want marked to market lmao
I thought you were going to say $2m or $5m in EBITDA not $200m in EBITDA. It's insane you are involved in sales...that seems like something that would require a specialist. Kind of weird.
I think this thread is a LARP and you’re lying.
This is insane.
I'm the Director of FP&A at the PortCo ($200M EBITDA) of a MF, and we do absolutely everything you mention above, the MF just reviews the final version of documents and gives their input/comments.
Sorry to say it, but you are not an investment proffessional, you are an FP&A subconttactor lol get out of there
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