MBB to PE process
I'm a senior in college working at an MBB in NYC next year. I'm interested in moving to PE after 2-3 years and trying out the interview process this fall. I've tried to do some online research about the process and have found some slightly contradictory information (which was similar to my experience when I first began researching consulting). Does anyone have any experience in doing this? Or could anyone suggest some good, reliable resources for learning more about the process? Thanks!
Sure! Recruited to top fund on investment team AMA
btw— I think that if your goal is UMM or MF, MBB with DD experience is better off than most non-top IB groups. My rational is that everyone in banking guns for those spots and very few in MBB, but the amount of consultant seats is growing. Also just anecdotally within my friend group, I had a way easier time during on cycle getting MF/UMM interviews. Of course KKR and Apollo are off limits, but funds like Bain Berkshire H&F Advent are fair game
Out of curiosity, where you able to get rounds at: EQT/SLP/CG/CVC/TB/WP/Vista/TPG?
Here’s a good list of funds I would say are actively marketed to MBB;
https://www.wallstreetoasis.com/forums/listtop-consultant-friendly-pe-f…
Most of the ones you mentioned would require someone to actually learn how to LBO on par with a banker, and convince HHs they can pass interviews at banking only funds, but it’s certainly possible
For context I only had to do a paper LBO (almost all funds) and a take home 1 hr LBO (1 fund out of the 5 or so I interviewed with before signing)
How were you able to get interviews/ get noticed by recruiters- what sort of strategy would you recommend for ensuring interviews? Also, what resources did you find especially valuable in preparing for interviews?
All the major head hunters reached out to me. I told them I was only interested in UMM or MF. Doesn’t hurt to proactively reach out
From there they just sent me interviews the day it kicked off—
In terms of prep, make sure you do at least a few DDs and are able to talk to the investment thesis and where you landed. The exec sum is a good place to start. Know the basic details of the target (I.e. rev, GM, EBITDA, etc) as well as the market.
Less important is technicals, but make sure you know basic stuff like how to do a paper LBO. Never got accounting qs, but did get one that was walk me though X companies P&L, estimate the line items, etc.
I personally used the WSO guide, but honestly it was overkill for most funds except one that made me 1hr LBO
bump
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