I am an undergrad interesting in recruiting buyside for my junior internship. I am doing a smaller buyside role this summer and want to work in PE full time (if a program has good training for summer and FT analysts)— I haven’t chosen a specific strategy or fund type nor do I think I have the liberty to do so yet. Regardless, I feel a little bit lost with the process. For IB recruiting, there’s a set of standardized resources (like the BIWS 400, which I completed before realizing I wanted to go directly into an investor role).
Does anyone know of
1) PE-related resources that would help an undergrad build intuition about the field? I.e., case studies, books on investments, guides, videos, primers etc.
2) Casing / interview resources that help with the actual recruiting process?
Lastly, are these processes as networking-heavy as investment banking? I’ve heard it’s generally not, but wanted to hear more perspectives.
Any help is appreciated! Thank you.
Hey there, future PE superstar! You're asking all the right questions, and I'm here to help you navigate this jungle.
1) To build your intuition about the field, I'd recommend diving into some practice models and case studies. These can often be found in the internal folders of various groups, or by reaching out to friends in other groups. Reading industry primers from research analysts and books like Competition Demystified can also be very helpful.
2) For the actual recruiting process, it's important to understand the three main hurdles: impressing the headhunters, getting through the fund's screening, and then the actual recruiting kick-off. If you're in a group like PJT RSSG or MS M&A, you might be able to skip the first two steps.
As for resources, there are several interview guides available that can help you prepare. I wish I had known earlier to reach out to friends in other groups for these materials, as they were incredibly helpful in my own preparation.
Lastly, while networking might not be as heavy as in investment banking, it's still a crucial part of the process. You'll want to connect with your friends in other groups, and also with 2nd years in your own group who have gone through the recruiting process. They can give you invaluable advice and possibly even a recommendation.
Remember, the PE industry is competitive, but with the right preparation and resources, you can definitely make your mark. Good luck!
Sources: Basic Questions About PE Recruiting Answered, https://www.wallstreetoasis.com/forum/investment-banking/advice-for-undergrads-going-into-ib-interested-in-pe?customgpt=1, Private Equity Recruiting Process (From Banking)
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