Looking at this team currently for a role in NYC. Any insights into the team culture, interview process, and comp would be highly appreciated. I have worked with a few former Macquarie infra PE guys on deals and they have always been pretty good, but I have no insight into their PC shop, so any insights / anecdotes are appreciated.
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From a mandate perspective, they can technically invest across the cap stack but will largely focus on vanilla sponsored DL deals (think regular DL shops but with anchor capital ie balance sheet). Pretty sweaty from what I heard but the firm does have a strong “promote from within culture.” Macquarie is also HUGE on making you take their psychometric exam to gauge your IQ/EQ so ensure you score well as they’ll benchmark you against the data collected within the firm. Won’t look good if you score under the curve.
Okay that’s interesting. Thanks for the info on deal flow- the psychometric test seems weird to me. I guess they have this on top of a modeling test? I’d be coming from an infra group that is pretty heavy on modeling so not at all concerned there but it’s been a while since I’ve done those weird psychometric tests
The psychometric exams are always a little tricky, IMO. Given you can’t “study” for that format, I would simply advise to do your best, be consistent in your responses, and pray.
Thanks! Also wondering what would the final interview look like at principal finance team? Would it be mostly behavorials and background check?
All principal finance teams are effectively in-house buyside/investment roles but with B/S capital acting as the “anchor.” As such, I would expect technicals during the in-person SD (anticipate brain teasers too given some interviewers will try to “sus” you out). In terms of background checks, that’s more or less a must for all FO / high finance roles.
Is this for Principal finance or Macquarie Asset Management? If it’s for Principal Finance prepare to join a sweatshop, can’t speak to the asset management side
Why is it a sweatshop
Permanently shortstaffed, top heavy (lots of VPs), clunky monitoring (and a high volume of it). You’ll be doing plenty of late nights and weekend work.
LOL good to know. Not interested in going to a sweatshop even if some may say it’s the promised land
I mean look, it’s a great opportunity and will open a lot of doors for you, but you will get grinded for those 2 years. Most juniors do their 2 years and get the hell out, some without anything lined up.
What % of deal flow is equity/more opportunistic credit vs. down the fairway direct lending? Insight on base and all in comp at Associate level? Do they award carry as you progress, or no carry given it's B/S investing?
No carry but comp is on par with MF at the junior level (and the seniors I know always said they were compensated very well). They just lock up most of your comp in stock that vests over x years so they’re able to write comparable paychecks.
as for strategy, the US team can legitimately do it all, but probably 80% direct lending if I had to guess. They just closed something like a $500m EV full buyout last year,
Interviewed there till last round will say just convo re deals with different levels of people - very chill if you know your deals WELL. Lots of brain teasers though which really surprised me but fairly easy. No timed modelling test.
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