Hey everyone, I'm in the application process for Pacific Lake, a PE group in Silicon Valley that operates on a "search fund model". I'm excited about the group because I've thought this could be a good fit post-MBA for me, so I get the chance to test the waters at low risk. I'm coming from an MBB consulting group with only one M&A project under my belt. I've got two questions:
- Any suggestions on what to study for the interview process? Do they care about DCF/LBO models as much as standard PE shops? How do I study for this?
- Anybody know what to expect in the role? Type of work, salary expectations, exit options?
Thanks!
most search fund positions are unpaid
This is for pre-MBA, post 2 year at IB or consulting, so I sure hope it's paid!
it has something to do with the search fund model (their operating budget is close to zero). I used to work for a search fund with close to $100 M “AUM”. All positions were unpaid. However, YMMV if it’s a bigger, well-funded place or a fund that invests in search funds
It looks like Pacific Lake is not a search fund but rather a group that invests in and advises search funds. I would advise reading up a little more on the industry before going into the interview. As far as technical skills, I would know answers to basic technical questions and how to build an LBO model, but I would be very surprised if a place like this had a super intensive modeling test in the interview process.
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