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Also curious about other front office roles within these big alt asset managers. Like RE and GSO for BX.
Nearly everyone is given a return, though not everyone takes the return. Although I do know of a few groups that gave only half of the interns offers (but these were situations where you had 3 summers for 2 full-time spots, etc.)
Reasons: very few MF summer front office/investing spots, so already self-selective and top-caliber. Or simply diversity/network/family connections in which case it was already desired for them to come full-time.
People not taking return: deciding they want a different industry/career, deciding to do entrepreneurship, going to a different MF fund/job, etc.
does WP have summers?
No
vista rescinded internship offers
Source and why?
This would be surprising, their portfolio overall is absolutely crushing it during covid
While still above benchmark, to say their portfolio is “crushing it” during COVID is a massive overstatement. Fund VII (2018 Vintage, $16B) is currently returning a -8.5% IRR...
Note: Obviously mark-to-market and there will be recovery, but not like this fund is performing at the level they want to be right now
The fund closed last june, you must not know how irr works if you are quoting that as a meaningful statistic. It takes ~3-4 years before you can tell how good a fund is. Vista has among the highest returns in the industry, look at their fundraising history it is wild. Software is proving again how resilient it is and Vista just happens to have a portfolio of elite software companies so no figure they are doing well during this. Bain capital and them just exited an investment at 5.3bn
Yeah this guy has no idea how IRR is calculated. The firm is known for never losing money on a controlled buyout, I'm sure theyre just fine.
which year was this?
Can you provide more info on Vista rescinding internships?
This is false, the return rate was basically unchanged from prior years.
What was the return offer rate? Also, the person said that vista "rescinded" offers as in some interns never hit the desk. Do you happen to have any info that could confirm or deny this
anybody know what returns look like for SA at HF (DE Shaw, P72, BW)-- those that take undergrads?
I've heard p72 is around 80%, but interested in hearing what the other two are at.
Heard it was lower this year
Analysts are hired with the intention of filling their spot. Rarely does headcount go down even 1 spot lower (e.g. 5 interns for 4 spots) but it does happen at some of the smaller funds with analyst classes.
Appreciate it, man.
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