PE Funds that promote AS > VP?
Hello. Would anybody happen to have a list of funds that offer direct promote (skip B-School) and how many of associates typically get offers?
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An increasing number of UMM and Megafund PE firms are promoting without MBA. Off the top of my head:
KKR Apollo Silver Lake Centerbridge Leonard Green Ares New Mountain Clearlake Vista Platinum
Many of these funds have raised larger funds and have room to add headcount and high performers are typically promoted. They prefer to promote within versus hiring from business school. When they do hire from business school, it is typically because none of the good associates wanted to stay.
Collectively, those firms have slightly worse business school placement than their 2 year program peers. Business school is often frowned upon and there are fewer senior people that can pull for you. The firms do not have a strong relationship with H/S because they are not consistently on campus hiring.
In theory, assuming you survive for four years..
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Does Apax fall in this category?
Rare to get promoted as a man (maybe 1/5-6) but I think they’ve relaxed b school requirement so 4 years as associate + senior associate and you get promoted. Believe they pay for b school so not sure why you wouldn’t take the time off and travel the world though
I'm actually interviewing as a lateral hire after 3 years of PE experience...does that mean I'll have to do 1 year before I know whether or not they put me through a career track? B school paid for sounds pretty appetizing...but not sure if I want to apply at this point vs. going straight thru. Let me know easier to PM...
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