LA PE Recruiting Logistics
Current incoming FT analyst for LA interested in PE recruiting, but only for LA since I have family nearby and I have a couple of questions.
1) How does PE recruiting work in LA? Is on-cycle impossible since the offices are so spread out? If you have an interview in DTLA with Oaktree but then also one later with Clearlake in Santa Monica there is no way to talk with both from my pov.
2) Since LA has less associate spots, are all seats taken during on-cycle or is off-cycle more predominant since it is a smaller market and everyone knows everyone?
I have not seen many threads on how on-cycle works in LA or if it literally is the exact same for SF/NYC but any insight would be appreciated!
Depends more on the firms that have LA offices than recruiting for LA specifically. I’d recommend talking to HH as you’re prepared and mentioned strong interest in LA opportunities and they’ll send stuff your way. As someone interested in the West Coast, I’ve gotten a few random shops in LA (Corp Dev, Butterfly Equity, etc.) but also have done my diligence and targeted HH that cover pretty good - great firms with LA offices - here’s a short list:
Do any of these shops take consultants?
Definitely have seen Marlin take consultants before
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Following
Recruited about 2 cycles ago specifically targeting LA (previously in strong Tech EB group). Interviewed with probably half of the firms listed in this thread and ended up with more than two offers (and now work in LA). Firstly, most of the firms have historically participated in on-cycle. When on-cycle started for me, LGP, Marlin, Oaktree, Ares, all participated, but few, if none, filled all of their spots during on-cycle. Know a few associates in my class at these places that joined off-cycle. A couple smaller, industry focused names have interviewed almost year round off-cycle (Butterfly).
That being said, with PE recruiting being accelerated to right after banking training, I think a few of the LA shops are scaling back on-cycle hiring in favor of analysts that have spent more time at the desk. Think Marlin hired a couple less last cycle and Clearlake didn't participate in latest on-cycle at all.
Assuming they do participate in on-cycle. Interviewing is indeed more difficult in the later stages since they pretty much have you stay at the office the whole day to interview, my advice there is to try to be on top of meeting HH early (being very well prepped for that call), finding ways to have a conversation with targeted fund professionals prior to cycle, and follow up if you haven't gotten a convo in so you'll be top of mind when the cycle kicks off. If you play your cards right, you should be able to get introductory conversations in before everyone else, at least enough for them to remember you as a competent candidate. If you're lucky enough to secure an offer, don't be afraid to shop it around - HH aren't afraid to play you and tell you false things to keep you in processes and you shouldn't be afraid to do the same. I leveraged an offer from one of these firms to get 1+ more from other funds in LA while only having 2 interviews or less with the others. Know plenty of other professionals that played the offer game to get 2-3+ offers without doing a single model test or super day.
Good luck, LA is an incredible place to be and I'm sure you'll find your calling here.
incredibly helpful, +1 SB
curious what you meant by this: "Know plenty of other professionals that played the offer game to get 2-3+ offers without doing a single model test or super day."
is it really possible to get LA offers without modeling in interviews? sounds like the people you knew played this perfectly
Yeah, not LA specifically, more so broadly. But one guy for example, did a deal with a well known MM sponsor, met the team early on, and essentially had a handshake agreement that he would get an offer once on cycle kicked off, never had a model test or super day. He leveraged this for conversations with other firms and mentioned his timeline which led to accelerated offers. He ended up at a pretty well known UMM, but know a few people who did something like this.
Are you familiar with any LA funds that are consultant-friendly? Does a CDD T2 consultant have a shot at any funds in LA?
Would connect with Carter pierce as their clients are LA heavy
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