London - PE analyst programs
I will graduate in 2024 and will be doing an internship at GS/MS this summer at a European office. My ambition is to join an analyst program at a private equity firm in London after my graduation. I have done some digging on Linkedin and found that the following firms offer analyst programs.
Clayton, Dubilier & Rice
CPP Investments
Neuberger Berman
Partners Group
Which other firms offer PE analyst programs in London? I'm not interested in credit / infra.
Are there any firms that are known to have better/worse analyst programs?
It seems that very few PE firms advertise their positions publicly. Should I try to network with people at the above-mentioned firms to get into the process or should I contact PE recruiters?
What does comp look like for PE analysts in London?
Not PE, but for instance Bain Capital Credit do offer an internship program, however offers are made based on availability from what I understand. I am also an undergrad and attended their online info session before applications opened and they were saying this year they won't give any return offers to interns. During previous years, they did give return offers to people who had had banking internships it seems.
*edit* this was for the London office. Info session was held in August 2022, and applications for the internship closed september 2022 (i think)
Is Bain Capital Credit not offering full time roles to interns only for the UK, or US too?
Bump
Last year they said the same but hired 1+ as FT. If you have other choices I d not risk though
KKR interviewed people for 2023 analyst programme (was in the process) but they didn’t end up taking anyone
Interesting info. Do you know if it was because they realized they didn't need the headcount or because no one was good enough?
both - some names were noted down for associate recruiting 2 years down the line - KEA ran the analyst process
They did, know 2 guys who got the offer for the Analyst program. BX still interviewing
BX still open for apps or too late now?
yeh that’s cap i’m sorry, unless it’s in growth equity, they’re capping u for sure
Out of all these, I guess Blackstone and CPP investments will be your best bets. Obviously Blackstone will be super competitive and I don't know if an internship at GS/MS (without any other internship at a well named Buyout fund) will be enough.
CPP hired few analysts for several investing roles starting 2023, which was in line with other major Canadian pension funds just hiring to grow their manpower in UK and Europe. I don't know if they'll be this bullish in the next 1-2 years.
Lastly, Ardian, Carlyle and most of the other mentioned ones usually have off-cycles, and honestly you'll need to perform really well to land a FT offer. And some people I know who were able to convert at these funds had to do extended internships like 7-9 months (rather than 5-6 months) and wait for any availability to appear. So I guess best option might be to apply for summer or off cycle at these funds next year sometime before you start your FT with GS/MS and then come back after 1 or 2 years of your analyst stint.
CVC also offers analyst positions (to its interns mostly)
You forgot a big one: GS MBD. Just want to add that I don't think Carlyle's and CVC's positions that were mentioned are for corporate private equity. However OP in your shoes I would not discount credit etc. as from these roles from a MF quite possible to move to corporate private equity as an associate at a different fund
KKR, BX, CD&R, and Silver Lake must cumulatively be 10 positions tops if that in PE for the whole of Europe
MS has investing divisions as well that take analysts, notably MSREI and infra
Can confirm CVC is for corporate PE
Do you know anything more about that program? Which headhunter, how many seats, when do they recruit?
Thanks for reminding me of GS, it seems like they take in quite a lot of analysts. What is the view on GS PE? It seems that most people use it as a stepping stone to join UMM/MF after 1-2 years.
Lol
decent fund sizes quite strong on the credit side, PE side they have corporate, real estate and infra, typically compete in mid market - internally sometimes have to pass up opportunities that conflict with IBD, so somewhat hamstrung at times (just like how blackstone’s advisory business clashed with their investing teams - eventually spun off into what is now PJT)
How close is Merchant banking Division to private equity in terms of skills required, job description & even a possible move from MBD to PE?
Who runs the processes at CD&R and NB? Also what about 3i, still relevant or have they closed their program?
NB is FoFs not buyout
Not sure if outdated or not, but I've read somewhere before that CD&R is Dartmouth lol
dartmouth sucks dick
You're correct. I was invited to the process of an internship at CD&R by Dartmouth. I agree that they do suck as their website for the application didn't even work. Of course no one responded on the technical support number or email either.
How about Astorg? Or any other MM firms???
bump
What other firms take analysts? Surely there must be more firms offering analyst positions given the number of PE firms in London.
Temasek and GIC seem to have one
What's the profile of the analysts?
are you German?
No, from another country in Northern Europe. Why?
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