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Career Resources
Really early this year...we're still scrambling over here. Goddamn Centerbridge
Centerbridge is first up today or your firm Centerbridge is still scrambling?
Centerbridge and Apollo launched interviews.
We're scrambling because Centerbridge jumped the gun
Omg it's starting!!
I will never understand this madness. There are about 900 qualified candidates for every 1 position at the mega funds.
have any others joined the fray?
H&F started interviewing today.
Ares has started up as well, even though they're not included on the GoBuyside list
Are you positive on this? They have contacted candidates already?
Ares is on the GoBuyside list.
Yeah, they are on the latest iteration. Hadn't seen the latest email when I posted
Silverlake, H&F, Apax, Centerbridge, Apollo are among the larger PE funds we've heard from
Good luck with the hunger games PE recruiting process first years!
for those of you looking to get the private equity interview Prep Package beta version - we have a few more spots left for beta users (you can read about how to reserve your spot for the version getting sent out on March 10)...all info in my last comment here: //www.wallstreetoasis.com/forums/new-wso-private-equity-prep-pack-in-the-…
crazy how early this starts every year...
Earliest start ever... I don't envy the first-year analysts. Good luck to all.
Carlyle, KKR, TPG, Bain and Leonard Green have started.
WTF WHY SO EARLY
You kids are 6 months into banking, why are you looking for other jobs? You're already at JPM/GS, etc. - aka the peak of finance. Think about your bosses - do you think they appreciate having someone who is so half hearted at work they are ACTIVELY LOOKING for another jobs at the same time???? Focus on your company profiles and PIBs. Do a good job at work, and the money/"exit ops" will follow
....because this the only time most of the PE firms/hedge funds interview? JPM/GS is hardly the peak of finance. And our bosses are encouraging us to get good jobs.
Yea - you definitely know what you're talking about.
anyone knows who is the headhunter for catterton?
Pretty much all of the MFs have launched at this point.
Heard Warburg Pincus is entering the scene and offers are being given out now
Went through this last year as well with success. Happy to help, especially given all the free advice I got on these boards.
How accurate is the info that gobuyside doles out? If it is accurate, that would be quite depressing haha
They've been very accurate based on interviews in my group. Maybe a few hours lag at most.
Agreed. Their list is usually both accurate and largely complete.
Yeah, recruiting season is usually when rubber meets the road for many people 6 months out of college. If the first time you're hearing about a firm hiring isn't from the firm's headhunter, someone at the firm directly, or from a senior banker who has a good relationship with the hiring partner/principal, you've missed it. For most people, megafund recruiting is over before you know it started. Unless you had a an informal interview over coffee or something with someone from a megafund, don't expect that if you wait around you'll eventually get that call from Blackstone or Apollo.
+1
This post is the uncomfortable truth. For one reason or another, it seems like there isn't great visibility into how the PE recruiting process works when you're coming into IB. Consequently, I think there are a lot of people who think that if they work hard and are a top analyst, they'll be noticed. For most of the incredibly successful people at the the BBs, it's the first time they will feel like they were completely ignored by a great opportunity. It's a harsh realization, but you have to keep your eyes on the road and move on. The truth is that there are far, far fewer PE slots than there are talented kids on the street so most people will have a harder time than they imagined. At this point, you just have to knock out the interviews you get and not worry about what you've missed.
very early process indeed. sucks
It's understandable that the MFs only interview the top candidates at top groups, but if you're a solid candidate at a top group at a non GS/MS/elite boutique BB, shouldn't you get some looks from some solid upper MM firms? Or are there enough good candidates at the GS/MS/elite boutiques to fill the ranks of the Lindsay Goldbergs, Silver Lakes, and American Securities too?
Also, it seems like there are some firms holding off on 2015 Summer recruiting until Spring 2015. To what extent is this true? I think this could be a big factor in deciding whether or not to accept offers. If you get an offer for Chicago at a random shop you're not passionate about, it would be a crap shoot to turn it down and recruit again next year.
You will definitely get some looks. You're overestimating the proportion of upper-MM firms that have launched. You're inevitably not going to get interviews at every non-MF. Silver Lake runs a $10.3bn fund (KKR's latest is $9.0bn), in pretty much every respect, it would be in the same category as Apollo / BX / Carlyle / etc. American Securities and LG are just two of 60+ upper-MMs in the same size range.
I would be quite surprised if a great portion of the rest of the pack doesn't launch on Monday. When the time comes that you get an offer somewhere, you should have a good idea of the situation. Until then, your guess is as good as anyone's.
How do you get access to the GoBuyside list? Do you just sign up on their site?
I feel like you hear more about the success stories of people getting into PE rather than about the people who try and fail. But regardless, it does seem like if you are in a relevant group (good M&A deal flow) at a reputable shop (either BB or elite boutique) and you worked hard to get ready for recruiting, you may not end up at a top shop (in terms of AUM or reputation), but you will land something, even if you have to try again multiple years. Can someone shed some light on how much more difficult it is to recruit in the Spring of your second year? Thanks.
By my count, there are about 80 funds >$2.0bn, only ~25 of them have launched, and 10 of those are the absolute largest funds (KKR / TPG / Carlyle / Apollo / Apax / Bain Cap / Warburg / Silver Lake / H&F / BC). No need to feel like it's over yet.
Thanks for the encouragement! Those numbers are a little more reassuring. Hopefully things play out on Monday!
Could someone post that go buyside list?
.
With Blackstone, Warburg and Advent launching this morning, all the MFs have gone by my count. And to think this process hadn't even started Thursday afternoon.
Forgive me if this has already been answered but do PE firms require college transcripts? If so, is it submitted as part of your application or as part of your background check after having received an offer from a particular firm?
My guess is it varies by firm but would love to hear input from those who've gone through the process. Thanks!
They won't be checking this stuff during interview season, but prior to your start date they will run background checks and potentially ask for transcripts just like IB. Just don't lie and I can't see what the concern is.
Are peoplr only getting 2-3 hrs notice before these interviews??
God this sucks. Got emails 3PM, wanted to fly me across the country for early AM interview. Ridic.
Given the rapidity of the start this year, people are hearing about interviews on the same day. Generally, though, most funds will give notice at least the night before.
2 hours notice is outrageous though...
Hey, you don't have to interview if you don't want to! This process will move forward, with our without your participation, so you just have to be extra flexible and always keep tabs on your phone.
Agree with NorthSider. You're more than welcome to voice your outrage and demur unless you receive adequate notice. Your absence wont event register.
The harsh reality is that they'll interview somewhere between 150-200 candidates to fill 4-8 seats. While every single person in that pool may not be worthy of an offer, the quality among these candidates is pretty deep and there are dozens of highly qualified candidates that will be rejected.
Went through the process last year (in a mid-tier group at a mid-tier BB). Ended up working out and got a MF offer, but not during the initial wave.
If you are a top-ranked analyst in your group at a BB, you WILL get looks at MFs, upper MMs, etc. You have to remember that these firms that are going now may not fill their classes in the first go -- lots of times, the candidates are not up to par, so they have to go back into the bucket. Just do everything you can to prep now, so you'll be ready when you get the chance.
GoBuyside list for reference below.
Interviewing (Scheduled/Conducting): Advent International American Securities Anchorage Capital Apax Partners Apollo Management Ares Management Bain Capital BC Partners BDT Capital Berkshire Partners Blackstone D.E. Shaw Group Carlyle NYC CD&R Centerbridge Citadel Farallon Capital General Atlantic Glenview Capital Halcyon Asset Management Hellman & Friedman King Street Capital KKR Asset Management KKR Menlo Park KKR NYC Leonard Green Lindsay Goldberg Marcato Capital Monarch Capital New Mountain Capital North Run Capital Oaktree Capital Reservoir Capital Slate Path Capital Silver Lake Soros Private Equity TPG Capital TPG Growth TPG Special Situations Towerbrook Capital Warburg Pincus
Marketing Events: AEA Investors Bregal Sagemount Catterton Google Capital SAC Capital Silver Point Capital Stockbridge TA Associates Vector Capital Vista Equity Partners
Did anyone hear back from TPG regarding the final round tomorrow?
If you don't hear back for the next round within 12-18 hours after you leave the building, that's usually a bad sign.
I have been hearing that a lot of firms are currently focused on the GS/MS/elite boutiques right now, and to the extent that they can't find qualified candidates, then they'll turn to the lower BBs and other banks for talent. To what extent is this true?
Has anyone heard back from Apollo yet? Post first round..
They've given out offers already, as has Bain.
My understanding is Apollo/Bain have given out one or two offers, but still have spots available and are continuing to interview. Correct me if I'm wrong
As of 2/23:
Interviewing Advent International American Securities Anchorage Capital Apax Partners Apollo Management Ares Management Bain Capital BC Partners BDT Capital Berkshire Partners Blackstone D.E. Shaw Group Carlyle DC Carlyle NYC CD&R Centerbridge Citadel Eton Park Farallon Capital General Atlantic Glenview Capital Halcyon Asset Management Hellman & Friedman JMI Equity Kelso King Street Capital KKR Asset Management KKR Menlo Park KKR NYC Leonard Green Lindsay Goldberg Marcato Capital Monarch Capital New Mountain Capital North Run Capital Oaktree Capital Reservoir Capital Slate Path Capital Silver Lake Silver Point Capital Soros Private Equity Stockbridge TPG Capital TPG Growth TPG Special Situations Towerbrook Capital Valinor Warburg Pincus
Marketing Events AEA Investors Bregal Sagemount Catterton Google Capital Maverick Capital SAC Capital TA Associates Vector Capital Vista Equity Partners
Insane. Heard Apollo and Centerbridge gave out some offers.
Do you know which firms those analysts came from?
GS and BX
The crazy thing is that my fund is bringing people in this week, I've reached out to multiple people from my old firm asking not only if they're interested, but if they know anyone in their office. No takers. I guess I didn't have a sense for the urgency of this when I was recruiting, but my recruiting cycle was way longer than normal I guess.
And a huge breath of relief.
Anyone have any insight on timelines for some of the lower middle market funds? Do they generally run in conjunction with the MFs or is the timeline later?
typically later / variable since they hire more sporadically since Investing Professionals team is typically much smaller than a Megafund (some years 2 associates, some years 0)...
This thread gives me anxiety
any advice to break into this industry at an unpaid boutique firm?
Anyone recruiting out here in Asia? started with 2 MFs, 2 potential MFs may start soon, and a few Asia/China-focused funds in different brackets
Not much on MIRA, Macquarie Infrastructure and Real Asset fund, yet they are one of the biggest alternative asset management firms w/ 50bn$ EuM and 100bn$ AuM
Is Infra PE out of the picture for most bb potential recruits ? If yes why not, it looks interesting and the pay should be similar to attract solid profiles.
AUM isn't the be all end all
Infra PE pays substantially less than traditional PE. Biggest reason is that (a) its not as prestigious (b) there's a much lower return hurdle (c) the variability in returns is far far lower... its very unlikely you're going to hit a monster CoC like you occasionally do in PE. So in some its less competitive talent-wise and its less profitable a business.
Do you think once in infra fund (GS, MS, Macquarie, ...) , it is possible to move to a MF ?
Thoughts on Infrastructure arms of MFs-- KKR/Carlyle in particular as well as Kraftwerk (Silverlake)? How different would you expect pay on these vs. traditional PE groups at the firms?
Does anyone have the latest list of recruiting firms from GoBuySide? Would really appreciate it if someone could PM it to me....thanks in advance!
Wait so recruiting for summer analyst positions occurs this far in advance? What about people looking for MBA summer internships, are they supposed to start the process before even starting school? D:
This has nothing to do with Summer Analysts.
1) Both pre- and post-MBA PE positions are Associate roles (except the few firms that recruit straight out of undergrad) 2) This thread refers to the recruiting cycle for full-time Associates beginning in Summer 2015 following the completion of their 2-year IB stints
Any rumors on when this year for 2016 start?
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