Q&A: London UMM/MF PE Associate

Question

Hi all,

Know some of these bigger posts are helpful for people and they have been helpful for me.

I have moved to the buyside in the last 6-12 months after 2-3 years of BB IB after studying at a target school.

I am working for a Large Cap Fund with multiple strategies and spend most of my time doing PE like deals.

I will answer most questions except questions around my background / specific to my fund for obvious reasons beyond what is already mentioned above.

Cheers,

PEM

Pan European Monkey · Accepted Answer

The interview had 8 rounds + a dinner (from what I have heard it’s maybe on the lower end) if I recall correctly - I would say the first 4 were to narrow down candidates followed by the case study following which it felt like I had the offer and it was on me not messing up with the senior folks and ensuring good fit / interest in the strategy.

My case study was a 4 hour one with a public company and I was asked what I would do with it. Sounds easy but obviously it wasn’t the easiest business (i.e. niche industry, lack of comps, accounting restatement).

Pan European Monkey · Answer

I probably work 9-11/12 on average M-W, 9-8 T-F (I try to sneak out by having drinks with friends on the sellside/buyside and justify them as networking on Thursday) and 3-10 hours on the weekend (mostly reading / getting ahead for the following week). I think am lucky that my team doesn’t care about when/where you work as long as you get things done (seems more the case on the buyside vs sell-side).

I would say however that you have better visibility on your schedule - some weeks will be super quiet and others where you’ll be crazy busy and/or traveling.

Pan European Monkey · Answer

1) I think its about truly asking yourself what interests you and what you want to make out of your next job rather than just thinking I want to go to a large PE fund with a decent name. I was specific in terms of fund strategy, industry, size, team dynamic that I wanted and made it clear to HHs / funds that I spoke to what I was after.

2) I don’t think it does, but you have to be fine potentially taking a pay cut / being brought back a year if you stay longer in banking but no-one will hold it against you.

Pan European Monkey · Answer

You can really recruit anytime so not a large consideration.

Process was fairly standard (and I say this after interviewing at multiple funds). Few interviews with the team, doing a case study, meeting few senior people, a lunch/dinner with some other members of the team, meeting more senior people and the offer.

My fund does hire MBB consultants but I think there is more scrutiny on their technical skills vs a banker (i.e. I’ve heard of some people having to do a modeling test on top of the case study).

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Q&A: London UMM/MF PE Associate

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Q&A: London UMM/MF PE Associate

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