I am a senior from a Big 10 school and after a couple of months of recruiting, I was able to land a spring internship at a very small PE search fund (just the Director, a graduate from HBS and a handful of advisors). The position will involve deal sourcing and deal evaluation (financial modeling, due diligence) and will last until end of April/early May 2015.
I'm wondering if I will be able to leverage this experience in the future if my goal is to end up in IBD/PE. I think it's too late to end up with an analyst position at either one of those since my credentials aren't really that outstanding (3.3 in engineering, but good leadership experience) and it's late in the recruiting process. But I'd like to know if I will be able to land a position (either as an analyst or associate) after 2-3 years after undergrad with this experience. Currently, I have accepted an offer as a tech consultant for ACN and will most likely be doing that when I graduate. Any insight would be greatly appreciated. Thanks!
Anyone? I looked up a list of small/MM PE shops near me and I'll more than likely just cold-call/email them to ask if they're hiring for any analyst positions after I get a few months of experience in this internship.
Has anyone been through this and been successful?
PM me
HI Matrick, can you check your PM.
Hi Matrick, my apologies but WSO won't allow me to PM until my full 2 days are up. I have an upcoming interview at a search fund and would like to learn more about whether it is a worthwhile opportunity. Any other way we can chat? I don't want to reveal too much here.
My apologies Matrick, WSO won't let me PM until my full 2 days are up. I have an upcoming interview at a Search Fund tomorrow and would like to hear about your thoughts on this experience. I am currently not in school but I don't want to reveal too much here. Any other way we can chat? Thanks!
@so1id" How did it go with the internship? I'm currently at a search fund now, am getting excellent experience, but would love to hear what the perception of your experience was once you started interviewing for FT...?
I have a video interview coming up... But it is for the summer and I am from the South. From what I understand they do not pay interns. What are the pros and cons of this internship?
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I worked an internship at a search fund and have talked with others who have done the same. The Search Fund world, and the experience you will gain, is indicative of who runs the fund. There are a variety of GPs (or whatever title they choose to give themselves). GP's with a strong Ibanking background will tend to provide a typical 'ibanking' M&A/PE experience. The Search Funds with MDs (medical doctors) or other non-finance backgrounds typically won't provide the experience you are looking for. From my interaction with those funds, the modeling is limited and the due diligence is more qualitative to fit their background (they know what they want and target specifically what they want). Search Funds looking to make a debut investment to start a committed fund after tend to offer the experience you are looking for. All in all, I'd say to be aware of who is running the fund. Get to know them, their background, their network, and what they want to accomplish well. The fund I worked with has landed kids in top PE and Ibanking firms across the Country as well as landed me interviews with great PE funds.... largely through introductions from the Company's GPs.
Hope this is helpful.
Hey ThePiker - mind if i PM you for more info on this search fund you worked at? Interested in learning more about what to look for in a good search fund (or the specific one you worked at).
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