I am starting a new job at a middle-market private equity fund soon. I have spent the last few years in investment banking in New York. I would appreciate any advice you may have about the transition from investment banking to private equity. They cover an industry that is new to me. I feel I should continue to work on improving my modeling skills.
Many thanks in advance!
There's a fair amount of literature around this already on this forum. labanker had a good post on how to move from Associate to VP.
Essentially the long short of it is
Brush up on technicals like modeling/accounting, but don't go too crazy. Each firm has slightly different practices so you'll learn on the job
Start respecting yourself more. You're no longer an analyst and your job isn't to get beat on all the time. You're still the lowest person on the totem pole and you'll have to do the lions share of grunt work, but with that being said, you will own models and data room processes and there won't be a lot of oversight, so take pride in that
Biggest thing is start thinking like an investor, don't just model to model or breeze through a CIM for the highest level numbers and info. Figure out quickly how the firm likes to invest, what has worked well in the past, and have an opinion on why you like/don't like specific businesses.
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