What to expect from a PE fundraising/IR internship ?
Hello everyone,
I have next week an interview for an internship inside an European PE fund which do Large Cap and mostly Tech deals.
It's inside their fundraising/IR division.
What I globally understood about the job is that their role is to DD the different funds and raise capital from the LPs.
I am not sure what I should expect from it as is seems to be a very niche job, and I wonder what I could do after that (basically the same thing in another big fund ?), as I would have to complete a second internship after this (both 6 months).
The big thing of this is that I'd get high exposition instead of doing repetitive process tasks and as the team has been rebuild recently, I would be the only intern, under the direct supervision of the global head of fundraising and IR (for EMEA, Americas, APAC...) which could be good as I could possibly benefit from the network of my managers to find another internship if I work well.
I also have another internship option as an ECM analyst inside an exchange (thing LSE, Euronext, FSE...), where I'd advise company pre and post IPO (two different teams but I'd do 50% of the time in one and 50% in the second).
Thank you and have a good day !
Ahoy there! It sounds like you're gearing up for an exciting journey into the world of Private Equity fundraising and Investor Relations (IR). Here's what you can generally expect from such an internship, based on the most helpful WSO content:
Due Diligence and Capital Raising: Your understanding is spot on. You'll likely be involved in the due diligence process of different funds, which includes analyzing fund performance, strategies, and market positioning. You'll also assist in raising capital from Limited Partners (LPs), which involves preparing materials, presentations, and possibly engaging with potential investors.
Exposure to Senior Management: Since you mentioned the team has been recently rebuilt and you'll be the only intern, you can expect to have significant exposure to senior management. This can be a golden opportunity to learn directly from experienced professionals and to make a strong impression.
Networking Opportunities: Working under the global head of fundraising and IR could provide you with an excellent platform to build your professional network. A strong network is crucial in finance, and this role could give you access to a wide range of contacts across EMEA, Americas, APAC, etc.
Potential Career Paths: Post-internship, you could indeed move to a similar role in another large fund. However, the skills you acquire in fundraising and IR are transferable to many areas within finance, such as business development, corporate finance, and other client-facing roles.
Skill Development: Expect to hone your communication skills, both written and verbal, as you'll be part of the team that communicates the fund's value proposition to potential investors. You'll also develop a deep understanding of how PE funds operate and how they attract and maintain investor relationships.
Variety of Work: Unlike some other finance roles that can be process-driven, IR and fundraising roles tend to offer a variety of tasks and projects. You might be involved in creating marketing materials, organizing investor meetings, or even participating in strategic discussions about how to position the fund in the market.
Remember, the key to making the most out of this internship will be to show initiative, be eager to learn, and not be afraid to ask questions. It's a unique role that can offer a breadth of experience and set you up for a successful career in finance. Good luck with your interview, and may the bananas of wisdom guide you to success!
Sources: [Experience] Road to PE - Investment Analyst in a MegaFund, What’s the deal with Investor Relations?, [Experience] Road to PE - Investment Analyst in a MegaFund, What to expect in PE interviews as an undergrad?, What should I expect for virtual investment research internship?
Interesting from the bot tbh
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