TA Associates
TA Associates Interview Help Needed! I have an interview with TA Associates (Boston) coming up and would appreciate any help / advice on their interview process. What's their modeling test like? 1-hr LBO model? Or is it more like a consulting case study? Can someone send me any examples? Thanks.
How did this go? Is TA full for 2024?
Is this for 2023 or 2024?
How did it go?
Bump - curious about this
Bump
What are hours like here? Interested in tech / services group
Bumpy
Bump
Incredible how little information this thread has yielded.
Have heard WLB is in line w MF buyout
Damn, thought growth generally had better hours than buyout. Although, TA does some buyout too?
Are these guys even really growth equity investors anymore? Seems like they lever up profitable businesses so closer to growth buyout strategy?
Definitely growthy buyout focused
Anyone have info on model test for TA?
goddamn this thread is way too dry for an email that clearly everyone got
Didn’t get an email - their process is starting?
Can we get an overall update on TA? What’s their associate recruitment process like? And update on culture / performance of the firm?
On the returns you need to google it my man - getting rid of hurdle rates typically means you’re crushing it. If you’re curious sounds like SC published returns you can go find online I bet.
https://www.buyoutsinsider.com/no-hurdle-no-problem-for-ta-associates/
While don’t work in growth my understanding is it’s going to be sourcing heavy (think expectations to make a certain numbers of calls and send emails per week which is all tracked). Need to surface best deals and if you get one on the line you do the execution work. Very cutthroat culture is what I have heard but for the right type of person who is naturally good with management teams and selling could be a fantastic fit.
I couldn't actually find anything on returns for TA from any pension fund data.
But yes, very cold sourcing intensive - although they do it via a 'thematic' angle.
TA XI (2010) has a net IRR of 27.7%, TA XII (2016) has a net IRR of 41.5% and TA XIV (2019) has a net IRR of 56.8% with net MOICs of 3.85, 2.44 and 1.3 respectively
I do fund manager research covering PE/PC and I've been through their marketing materials. Not going to list out anything but to put it simply, a 2.5x net MOIC is a very meh vintage and have had multiple 3-3.5x over the years in their flagship. I'm still young and only doing this a few years but I've seen basically all the brand name funds discussed on here at some point and TA is one of, if not the best I've seen. I'd lean with the latter
did they start?
What does WLB looking like? Very interested in their platform just really trying to escape the current sweatshop culture I am participating in as an analyst
PE is mostly always the same sweatshop as banking in most cases (exceptions exist but usually true). From what I’ve heard, it’s definitely eat what you kill environment and they track how much you are sourcing (basically given a list and have to make certain number of phone calls a week, etc.) and you are also responsible for execution as well (think they’ve done processes like exiting portcos without help third parties like banks, which means more for associate).
WLB is not going to be different in most cases, so it comes down to whether you want and believe you can succeed in that type of environment (ex: you’re done with work at 6, and technically don’t have any deadlines but probably need to make sure you’re doing enough research on the space and staying up to speed, finding new companies to introduce yourself, etc). Always will be work to do.
Went through process in fall — very easy relative to buyout processes.
Multiple deal walk throughs, basic valuation questions, some nuanced question on tech (was interviewing for tech)
Final rounds are heads of groups (partners) — very fit based to see if you’re “the guy”.
What kind of tech related questions were you asked? Also, was the valuation related questions a paper LBO?
Can I pm?
Bump - any chance I could PM with qs?
Hey, really interested in this fund and wanted to know if I could pm you about the process?!
Are associates putting in 100 hour weeks here? Understand if deals are live but how much autonomy do you have as an associate? Could I log off at 5 and hit the gym / grab dinner or do you need to grind 6 days a week like in banking?
Bump
Update on culture here?
Know a few people there and have worked with them a bunch - my perspective on culture / WLB etc:
As others have mentioned, their returns are great. They are the epitome of “boring” investors who somehow find slept on companies in fly over states and do tons of add-ons. They’re tech heavy but not at all in an “over-pay” type way. Love finding unbanked deals.
The secret sauce is basically running a sourcing sweat shop. They like to say it’s “thematic” but much like anywhere, it’s doing tons of market mapping and then calling everyone on their map. When I was recruiting a while back they shared the average calls an associate makes a year and it was a ridiculous number. But with all this sourcing they’re able to maintain really strong views of a given market and do smart platforms and also high-value add-ons because they just know every company out there.
On culture, they work hard, but from what I’ve seen sourcing is a bit more self-directed and you aren’t usually going to be getting comments at 11pm. They do have a big class though and not a lot of VP seats, so apparently it can get pretty competitive. That said, there’s a bonus for every single associate anytime one associate sources a deal (and it’s a significant amount - maybe 8k or something?) which is kind of a cool
How do they balance sourcing with execution vs. portfolio? Feel like this is a huge challenge.
Do associates not work on portfolio and have buyside help on execution?
Sorry to chase, curious on the question on daily split.
anyone heard back for in-person interviews?
Did you already have the first few rounds?
Anything on the culture in Business Services group?
Which office? Have superdays / interviews happened this week?
Bump any offers out?
Heard process starts next week
Did you hear that from cpi?
did you have a superday? Thought they’re wed/thur
Pretty sure they’re just first rounds?
Bruh heard offers are out already
Anyone know what type of questions are asked during the superday?
did you hear back for superday?
Bump what’s going on here?
Anyone get called back after this morning?
Which office / group? Was it the case study or just interview?
bump
bump
Anyone get called back after today? Or hear back?
I personally haven’t yet and thought I had a good day.
Me too
which group?
bump
What is their case study like? Do they have you take modeling tests?
Bump anyone hear anything
Bump, anyone hear anything? Seems that everyone in this thread hasn't heard but if someone else has, would be nice to have some closure so we're not wondering over the weekend.
Delete
cmon don't tease me like this, what did you say before the delete? I assure you that if you've heard back, others have too and they won't trace it to you. Just no one commenting has heard back so give us some peace of mind.
Delete
What did your process look like?
Has anyone heard anything??
Bump
Bump
Is it safe to assume they filled?
I can say with confidence they are still filling spots
Has TA gone dark on everyone from the last superday?? What’s going on
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