PE Associates - what do you actually do for PortCo work?
Associates, I’m wondering what PortCo work looks like on the day to day, excluding looking for and executing add-on acquisitions. What exactly do you do in that area and do you enjoy it? Or is it a more boring part of your day (like having to do pitches or BD work instead of actual deals in banking)?
Interested in this too
A lot of internal reporting - essentially taking information from various management data and repackaging it for LPs / internal valuation purposes. Also do some analyses related to budgeting / forecasting, though the majority of this is handled by portco FP&A. There are some ad hoc exercises that come up, though routine reporting is ~80% of the work at my fund
This is very insightful.
Do you think that with the advancement of AI some of (not all of) the reporting work will start to erode? If a large amount of it could be considered “routine,” I would assume that it will begin to be automated over the next few years?
Exactly this. Worst part of the job IMO
hell
financings, managing exit processes, lender reporting , liquidity forecasts for cash strapped portco's, budget/performance review, valuations. ad hoc analyses, commercial contracts negotiations, insurance renewals, etc.
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