Summer 2016 PE Recruiting
Does anyone know when the process will start?
Mod Note (Andy): bumped this thread since the convo is still going
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Last year it began in mid-february.
http://www.wsj.com/articles/SB10001424052702304071004579409614212162956
around end of Feb, check this http://www.wallstreetoasis.com/forums/summer-2015-pe-recruiting?page=1
According to the this morning's GoBuyside email, information sessions began today.
this just pre-MBA summer analysts/associates?
I believe these are for full-time associate positions after investment banking stints.
even sooner than last year... gotta be ready
People are saying right after President's Day Weekend. Chance that some fund jumps the gun and kicks it off prior to the weekend.
What is the best resource for people seeking new opportunities?
According to GoBuyside...
Point 72 Asset Management: Interviews AEA Investors: coffee chats Pamplona: coffee chats Odyssey: information sessions / resume drops passed ABRY: information sessions / resume drops passed Carlyle: breakfast event Golden Gate Capital: information event Warburg Pincus: breakfast TPG special situations: Dinner Towerbrook Capital: coffee chats
I am not familiar with GoBuyside. Is it anonymous to join? ie: do I have to worry about my firm 'noticing' me on GoBuyside?
It's not anonymous, but I don't think you have to worry about your firm noticing you on the website. Almost everyone at my firm has a profile, and the only recruiters on there are buy-side recruiters.
In general, if you're not in on these pre-process events, are your chances of interviewing slim? How do you get on the invite list? Do firms get resumes from headhunters this early?
I've heard that if you don't hear from these firms by the time their events have started, your chances of interviewing are slim. These shortlists are typically composed of headhunter recommendations and recommendations from current employees, so yes, I believe headhunters do get resumes this early.
It's partly based on groups and more specifically sometimes based on rec's (e.g., someone at the PE firm hits up a buddy or second year analyst who's already committed to the PE firm and asks who they should be looking out for.) HH's can certainly have a say too, though I am not sure how deep into their processes they've already gotten.
Does it happen the same time in London?
Recruiting events have begun and below are the events/interviews we can confirm: Ares Management event Clayton Dubilier and Rice coffee chats Silver Lake coffee chats Pegasus event Iconiq Capital event Maverick Capital event Advent International event TPG Capital dinner Bain Capital event Vector Capital coffee chats AEA Investors coffee chats Pamplona coffee chats Odyssey information sessions / resume drops passed ABRY information sessions / resume drops passed Carlyle breakfast event Golden Gate Capital information event / coffee chats Warburg Pincus breakfast TPG special situations Dinner Towerbrook Capital coffee chats Point 72 Asset Management interviews
Sincerely, The GoBuyside Team
Thanks for the info. Out of curiosity (and I know it has been covered before, but would like to hear the latest answer), does cold-networking work to get invited to these events? Or is it more so just group, rec's, and HHs as mentioned above?
All, take the gobuyside list with a grain of salt. They have misreported certain firms. For example, the ones I know they messed up are events/interviews with Carlyle, Warburg, Point 72, and Maverick. Or the HHs could be lying to me. Just be aware that the list may not be fully accurate.
I understand that. However, they only made the revision well over a week after they first published it. Second, for the other firms, as I said, either the headhunters are lying to me which could very well be the case or gobuyside may be improperly reporting. Could very well be because I don't fit the mold for the elite firms, won't lie about that. However, I have heard the same sort of sentiment from other people who have already went through the process in years past.
Does anyone have a sense for the geography of these meetings? I would assume mostly in NYC... If you're in SF looking to stay in SF have the meetings kicked off for that pool of analysts as well?
GoBuyside is legit. Traditional headhunters are typically not as well informed as GoBuyside (although I expect many of them to be somehow already registered on it) and can definitely be dishonest.
anyone have a contact at gobuyside?
BAMS!! Seems like this weekend will be packed...
What other resources for PE recruiting would you recommend in addition to gobuyside?
Anddd Interviews have started. Cerberus and some others kicked off last night.
Yup. Manic weekend ...
.
Good luck guys. Heard these firms have started:
Advent Bain Golden Gate Pamplona TPG CD&R Berkshire Ares Warburg Carlyle American Securities Lindsay Goldberg
Brace yourself. It is happening.
btw.any european candidates? seems like getting invited is hard because of the interview logistics and Visa...
Good luck everyone! another early year!!!
Lots of mega funds have sent out offers this past week
Can confirm, received two large cap offers last Wednesday. One of them is done with recruiting and I'd assume the other is too given they had to fill the spot not taken and probably did with ease.
Also, just want to dispel the notion that if you aren't invited to the dinner event/coffee chat, you're out of the process - that wasn't my experience at all.
Just out of curiosity, are you at a BB or an EB? Congrats on the offers btw!
Thanks, I was pretty pumped. I'm at a BB. I'll likely make a post about my recruiting process to hopefully shed some light on how similar/different it was compared to what some posts on here will lead you to believe.
For reference my $5B AUM MM Fund is recruiting the next 2 weekends.
Forgive my ignorance, but if I had a final round with a firm last week and still haven't heard back, am I for sure dinged, or is there the possibility they a) are checking into my background or b) have me on a waitlist in case someone declines an offer? Not sure what the convention is, but I was told by HR that I would definitely receive a call with an outcome, even if it was a rejection.
A two week delay, given the speed of the PE recruiting cycle, is fairly reliably a ding.
Yep, in my experience I found out within 4-6 hours whether I was moving on to the next round/getting an offer. Things usually move quickly, unless you're recruiting off cycle.
Do MM PE firms leave spots open for 2nd year analysts ? When does this recruiting happen?
My firm usually leaves 1 spot open for an off cycle hire. Not every year but probably 2/3. Not necessarily for a 2nd year analyst. Just fill that spot within 12 months of the start date.
Does your firm still look at 2nd year analysts? Or is it 1st year only?
Generally speaking:
If you recruit for the first time as a second year, your chances of getting an interview are as good or potentially even better than if you were a first year. You will have to explain why you have not recruited as a first year but this should not be hard.
If you are a second year who has tried to recruit as a first year but was not successful, your chances are worse because headhunters see you as a liability. This is assuming that you are recruiting via the same headhunters in your second year.
The summer 2016 cycle has already ended for most top PE firms. Only small fish left looking for candidates.
anyone know what's going on with hf recruiting
Are there any PE firms recruiting still? Looking for the MM PE firms? Thoma Bravo, Francisco, Silver Lake, Accel-KKR etc. Is it better to recruit as a second year if these guys are done?
Anyone have any info on the recruiting timeline for the major growth equity funds (i.e. Summit, TA, TCV, JMI)?
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