So it seems the megafunds have set a new early record for the recruiting cycle, kicking it off last week. It's my understanding that the megafunds (i.e. KKR, Blackstone, TPG, Carlyle) as well as some other large PE funds are pretty much done recruiting already.
Does that mean the middle market ones will start in a week or two, and all PE recruiting for 2012 start dates will be done by end of March? Thoughts?
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the large MM pe firms will start soon, if they havent already started. but i highly doubt that ALL pe recruiting will be done by March. there are smaller MM firms out there that start much later in the process depending on need.
Not all PE funds have formal recruiting... if they are looking for 1 or 2 analysts they may just reach out to a headhunter throughout the year whenever they need someone.
I want credible citations on the large funds actually being done. I'm not sure any of those 4 are done yet, tho I know they all started last week and hit it hard on the weekend
can't guarantee they're 100% closed, but do know for a fact that carlyle and tpg have given out offers.
All HHs have told me that MMs follow a few weeks after the megafunds. Based on the larger PE recruiting thread, It appears that some big-name MMs such as Leonard Green and New Mountain have also finished.
Also worth noting that last year it was TPG and Hellman & Friedman who kicked off the process. H&F isn't a megafund, but one can definitely call it a larger and elite MM.
It seems that Vector is about to start soon too.
KKR, BX, Apollo, TPG, Leonard Green, Bain, Warburg and Carlyle are all done recruiting. There could be others that are done as well that I am not informed about. But those are the ones I know for a fact are done.
I've also heard that the Boston firms recruit simultaneously... so if Bain is done, I would assume THL is done as well.
Do you know how many offers have been given out?
Do headhunters contact you at a MM or do you have to reach out?
I think there is a common misconception between firms that have given out offers and firms being "done" with recruiting. Historically, there have been waves of processes. Positions aren't filled up with the first set up candidates that walk through the door. I know for a fact that last year there were a good 3-4 weeks between KKR's first offer and their last.
KKR, Carlyle, and Warburg have given out some offers, but are still conducting some interviews as of today.
Confirmed that TPG and Bain are done with their classes. Apollo offers went out last week, and I think they are finished interviewing.
THL is not done -- final rounds are today.
Leonard Green is still conducting interviews for at least the next week.
[quote= Confirmed that TPG and Bain are done with their classes. [/quote]
Just FYI - Bain is not done - still recruiting - but mostly the MBB consultants at this point
Ohh ok, I'm referring to people I know that have received offers from these firms.
who represents thlee and the rest of the east coast firms? is it too late for someone on the west coast to get in the mix?
I was wrong about TPG -- they reached out to another wave of candidates today to schedule first round interviews.
i think most of the big firms are still seeing candidates. I know we are and several of the people we're talking to are telling us they're still in process with a few of the other big funds (although we have given multiple offers and have had a few acceptances already).
I can't imagine that more than 2 or 3 the big funds (and i wouldn't be surprised if none of them) are COMPLETELY done with interviewing this year and have completely closed their classes.
Most of the big east coast firms are represented by Amity, SG Partners, and CPI. Oxbridge might rep a few of them. The McKibben Group does a couple. Dynamics might have one or two although i think they are mostly HF search.
Yeah, Dynamics is more HF-focused. Oxbridge seems to have a stronger LA presence. Has anyone heard anything frmo CarterPierce? Have they even scheduled meetings with current banking analysts?
What about GS PIA? Where are they in their process? How does their recruiting usually work?
PIA was caught off guard and has not been able to put together its own process in time because everyone is at a management offsite. They do a lot of hiring internally at GS, not sure what their external process is like.
Is there any megafund that is still interviewing?
TPG is still doing some first rounds. Carlyle NY did more final rounds today and might be continuing over the next few days. Warburg is also still doing final rounds.
I know KKR Menlo Park did some first rounds in the last few days, so they are probably still holding final round interviews now as well.
GS PIA will presumably need to start interviewing candidates at some point...
tangent:
http://dealbook.nytimes.com/2011/03/09/a-grab-for-wall-streets-rising-s…
Can someone summarize going into next week who's still out there? I'm very curious to know. Hopefully Monday 3/14 people will have a clearer picture on what's out there.
Not much.
All the megafunds are pretty much done (i.e. either extended all their offers or very late in the process meaning if you're not already in the process, you're not going to be).
Most of the top MM firms are half a step behind them. So while a few of the megafunds extended offers last friday and early this past week, I expect that most of the top MM firms will be extending offers in the next few days (also meaning if you're not already in the process, you're not going to be).
In terms of whats left, likely the tier 2 opportunities (gone are all the megafunds, gone are all the top non-megafunds like providence, H&F, THL etc..., gone are all the top MM firms).
I obviously don't have a brids eye view of every PE firm and where they are in the process, but this is just what I gather from my own experience as well as what I hear from contacts.
Anyone know which firms or groups placed the best so far outside of the usual GS TMT and MS M&A?
cs la and Moelis la did solid like they always do.
Hi ledger123,
Can you shed some light on how the latest CS LA and Moelis LA classes placed?? You can PM me if you want - I'm interested in these 2 places - thanks!
Does anyone know how many slots most of the megafunds were recruiting for?
How about now?
I think its pretty much dunzo.
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