Search Fund Internship
Hi everybody, I received an offer for an interview for a search fund this week. This is my first time ever being interviewed for a search fund. What are some questions that I should expect? What are some ways I can stand out? Will I be tested on anything technical? Thanks in advance.
bump
I interviewed with a few search funds freshman year and each process was pretty different so it's hard to generalize what you should expect. To prepare I would spend some time learning more about the search fund model, what type of companies they target and their characteristics, and maybe think through a few industries that would fit these characteristics. Wouldn't expect anything technical and would prep the basic behaviorals if you haven't already. Best way to stand out is in the questions you ask.
M&I recently wrote a great article about search fund internships and there's a few questions you could use here: https://mergersandinquisitions.com/search-fund-internship/
good luck!
This was very informative. Thank you so much!
It really can be all over the place with search funds. Generally depending on your year and if they’re paying you or not they’ll just make sure you understand basic pe and financial terms (not very technical), how to use excel, and if youre comfortable chatting with adults and email correspondence. If you’re a freshman or sophomore I’d highly recommend avoiding a random fund thats unpaid vs a wealth mgmt internship at a bb or known group. Sure it can help with financial experience but everyone is aware that most of the work these funds toss to their interns is sourcing and data administration.
Odd, the finance club at my university (target) strongly recommended doing an unpaid internship to build experience. So if not an unpaid internship at a search fund, what should I do as a first year wanting to be competitive with no finance experience.
Disagree heavily. My first internship was unpaid for a search fund and it was a springboard and talking point of all of my other internships and I'm now interviewing for many PE and growth equity firms for full-time out of undergrad from a non-target. It is a great way to get exposure to PE investing, and I would highly recommend.
Hey, I'm looking into search funds, can you recommend how can I get to to a databse of them or how was your process like? I already use searchfunder.
- How to source an investment in their vertical
- Basic understanding of LBO
- Understanding of the search fund model
You'll also be asked how comfortable you are interacting with c-suite executives over email or zoom, so be prepared for answering that question with relevant experience.
Im sure you're familiar since you're already searching for these roles, but check out searchfunder.com if you havent and also read the Stanford annual search fund studies.
Searchfunds are a great place to get your foot in the door in private equity. That was my first internship experience (unpaid btw) and now I'm recruiting for some great PE and growth equity shops for full-time.
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