Successfully finished my Associate stint in PE with No Deals LOL
No platforms, no add-ons (all my portcos underperformed).
Given the state of the market, what are the odds I could lateral PE firms with no deals completed? LMAO…
What a strange 2 year experience.
What jobs do people get with that kind of experience? Not planning on business school either.
Did you not close any deals or did you not work on any deals?
Closed over 10 refinancings lol, but no M&A deals closed. All fell apart due to external factors (luck)
Okay but did you make it far in any processes
Pretty common these past few years. Associates not getting basic skills. Mid-levels not getting deal execution reps.
Even pre-2021 the "average" pre-MBA associate had maybe 1 closed deal in a 2-year program (particularly if they weren't at a tech-oriented fund that was slinging deals left and right).
Yeah I wouldn’t worry too much. Pre market slowdown your average PE associate at a MF/UMM maybe had 0.7 platforms closed. If you can articulate the transaction process and investment thesis well people won’t hold it against you. It’s not like you’re competing against an army of other associates with a ton of closed deals anyway
In your view, would something like private credit be a good alternative to get deal reps? Assuming similar lack of M&A next 1-2 years, but more volume credit-side
It’s not your fault and there’ll be tons of others with limited experience. Maybe move downstream a bit
Talk up your experience putting out fires. Everything is burning down, your experience is very relevant.
How was deal flow and screening? Maybe spin the value creation as a differentiation
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